THE WOOL MARKET.

Otago Witness, Issue 3511, 28 June 1921, Page 13

THE WOOL MARKET.

LONDON Y\ OOL SALES. Messrs Murray, Roberts, and Co. have received the following wool market cablegram from London: “Sales have closed with a good tone an\! good competition. With the exception of merinos, tire opening rates for winch are barely maintained, and coarse crossbred, winch has declined 5 per cent., the market shows no materia] change.” Tiro Bank of New Zealand has received the following cable advice from its London office, dated 17th inst. :--“The sales have closed firm, and withdrawals are practically nil. There is an active demand by Continental buyers, but Home buyers are quiet. Prices for practically all descriptions are unchanged compared with the opening of this series. The market is irregular for "medium and coarse crossbred. Current prices for wool of average condition: Coarse crossbreds 3640’s, _Gd to 6}d per lb; medium crossbreds, 44-46’s, 7d to 7}d; fine crossbreds, 50’s, lOd to lid; inferior merinos, common, 60-G4’s, Hid to 12d; super merinos, super, 65-Gi's 16d to 17d; halfbred, 36’s, 13Jd to 14>.d.” ’ LONDON MARKET WEAKER. LONDON, June 25. The wool position shows a decidedly easier tendency, the effect of the reduction of the bank rate being neutralisd by the result of the “Rawra” wool sales at Liverpool, where prices were about 5 per cent, below the London closing rates. The weakness is mainly noticeable in Yorkshire sorts, whereas Continental wools are well maintained. The trade apparently fears that the offerings here 0 f Australian in the next two months will lie more than can be absorbed. Best 64’s, tops, are now- offered at 42d, which is below the cost of production at the price paid for merinos at the last London sales. The demand for tops at Bradford is very slack, and in the face of the large prospective offerings wool has little hope of any appreciation in values. It will be a matter for congratulation if it does not relapse. Meanwhile the sale.-; of English wool continue to show a serious decline compared with 1920, and many of the farmers are holding their clips owing to the unsatisfactory prices.

AUSTRALIAN WOOL SALES. SYDNEY, June 21. At the wool sales there was keen demand for all grades, France and Japan operating freelj'. Prices were unchanged. HOBART, June 22. The wool sales showed a general reduction in prices. The top price was 15jd, compared with 30|d at the March sales. INVERCARGILL WOOL SALES. INVERCARGILL, June 23. At the Invercargill wool sales there was a fair attendance of buyers, but bidding was not a 3 keen as at the previous sale here in January. The bulk of the wool was bought by overseas buyers. The greater part of the catalogue was good to medium crossbred, very few lots of the finer qualities being offered. Choice crossbreds sold well, others were not so easy to clear. Following is a list of the prices realised: —Halfbred, medium to good, 7§d to 9ld; tliree-quarterbred super, to B|d; medium’, 6d to 7ld; inferior, 4|d to sd; quarterbred, medium, 6d to Sd; crossbred, super, 6|d to 8d; medium, 4Jd to 7d; inferior, 3d to 4d; pieces, medium to good, 2HI to sd; inferior, to 2d; bellies, medium to good, 21 d to 4d: inferior, lod to 2d. oamaru markets. (From Our Own .Correspondent.) OAMARU, June 25. Again there is little to report in connection with the local markets. In all departments business has been either slow or totally absent, and there does not appear to be any likelihood of an early improvement. Farmers are pretty generally busy breaking up land with a view to the spring sowing of cereals. The recent rains, have put the ground into good condition for ploughing, and teams are i to be seen at work in fields in all directions, though tile. weather still continues broken. The indications are that a very largely creased area will be sown with wheat, while oats are likely to be less widely sown than in recent years, the outwork for this cereal not being such as to encourage its growing except wlfere rotation of crops renders it desirable. The little flutter in oats recently reported lias been brought to an end, and the market is decidedly weaker. In part this has been brought about by the closing of tie Auckland market to South Island Cartons as a result of a Tasmanian invasion. White oats (Giants) from that State can, so it is reported, *be landed in Auckland, duty paid, at_ 3s Gd for A grade and 3s scl for 43—• prices that cannot be competed against by New Zealand merchants. Cable advice has, also been received that oats ha ,-e declined in the London market by 2s a quarter, equivalent to 3d a bushel, and this lias effectually arrested purchases for shipment Home. In the early part of tile week purchases were made locally at 3s for milling Cartons, 2s lid and 3s for heavy A’s, and 2s 8d for B’s, all net to growers at country stations. But these prices belong to the past, and there is now no disposition to buy except at tempting reduced prices. A little wheat, including one line of 300 sacks, came forward during the week, and! went promptly into millers" hands. There is still some barley, both malting and feed, on the market, but no business is reported. A lino of linseed changed hands at a country station at £ll net. Ryegrass seed is a bit firmer, but sale is reported. The potato market is pronounced easier, but any slackening is viewed! as temporary. SOUTHLAND MARKET REPORT. (Biton Our Own Coekespos-dext.) INVERCARGILL, June 25. Oats.—Since last report there is a somewhat depressed feeling as regards the future of this market, merchants generally being indisposed to pay rates of a week or so back, when prospects were held for further decrease in Homeward freights. Today it is difficult for growers to obtain over 2s Bcii per bushel on trucks at fairly convenient sidings, for A grade Cartons, while from the merchants’ point of view this is somewhat above the equivalent of prices which can be obtained f.o.b. from northern buyers. A certain spirit of rivalry exists between merchants and northern speculators, and if perhaps more than anything, die importation of oats j from Australia, is influencing the values. Chaff.—Fairly considerable quantities have been offering during the past fortnight, and merchants are fully stocked, and ■ disinclined to trad© at recent rates—£4 on trucks for prime quality. To-day’s values hardly exceed £3 15s for exceptional lots. ; Ryegrass.—The tone of this market is still buoyant, but a good deal of seed has changed hands during the week, from 2s Gd for 221 b seed from the mill, up to 3s 3d for seed weighing 261 b or thereabouts, of a nice appearance and well dressed. HIDE SALE REPORT. Messrs Wright, Stephenson, and Co. (Ltd.) report as foliovvs:—We held an auction sale of butchers’ Abattoir hides on account of the Otago Co-operative Tallow and By-products Co. (Ltd.), at Burnside, on Friday, 21th mst. There was a large attendance of buyers, and included in our catalogue were some lines of extra stout heavy ox hides, competition for which was exceptionally keen. The top price obtained by us for this class was 13gd for five hides weighing 761 b gross; other lota realising 13’d per lb and 12Jd per lb. In cow hides our top price waa 6Jd for 2b hides averaging 561 b gross. Values for extra stout heavy ox can be quoted Id per lb higher than recent rates, stout heavy Id per lb, and mediums Jd lb higher: while light-weights ruled firm at late values. We quote a few of our sales at per lb: —Ox hides: Five 761 b, 13gd; two 641 b, 13’d; 23 651 b, 1214; 16,761 b, ll|d; 24 651 b lljd ; 15 731 b, 11 |d; 26 631 b, lOJd; 27 621b’ ic|d; 34 621 b, lOJd; 25 631 b, 10Jd; 26 631 b, 10Jd; 24 561 b, 9|d; 20 561 b, 9Jd; 20 561 b, 9‘d. Cow hides: 28 561 b, GJd; 17 451 b, s£d; 8 371 b, 5Jd. It would also interest vendors to note a, few of our gross returns per hide, after the usual tare of 41b per hide has been deducted, as follows:—Ox hides: 5,761 b, £4 la 9d; 10, 761 b, £3 11s 3d; 15, 731 b, £3 (is lOd; 2,641 b, £3 6s 3d; 23 651 b, £3 2s 3d; 24 651 b, £2 19s 9d; 26 631 b, £2 13s 6d; 25 631 b, £2 12s lid; 27 621 b, £2 12s 7d ■ 26 621 b, £2 12s Id; 31 621 b, £2 12s; 6 711 b, £2 Us Sd; 20 561 b, £2 0s 2d; 24 561 b, £2 0s Id; 20 551 b, £2. Cow hides; 28 561 b, £1 6s 7d; 29 521 b, £1 Os 6d; 17 451 b, £l. We quote: Extra stout heavy ox, ! 2td to 13id; stout heavy, 11 Jd to 3 2fd; heavy, IOJd to Hid; medium, BJd to 9Jdlight, 6d to 7d; stout heavy cows to 6 6:1 ; medium, 51d to sjd ; light, 4Jd to 5Jd; yearlings, Gjd to 8d; calfskins, 51b to 12d ; heavier, to 9jd. SALE OF PEDIGREE JERSEYS. CARTERTON, J lino 22. A sale of pedigree Jerseys hero yesterday attracted a large number of buyers from all parts of New Zealand and from Australia. Ninety-three head of the famous Middle Run herd (W. H. Booth and Sons) were put up, and all were sold except four bull calves. Cows averaged £9l, heifers £7O, bulla £6l. The sale realised £6905.