LONDON WOOL SALES.

Otago Witness, Issue 3662, 20 May 1924, Page 16

LONDON WOOL SALES.

SOUND COMPETITION WITH excellent values. (From Our Special Correspondent ) LONDON, March 26. ine sales in Coleman street are being continued under very favourable conditions, mid there is not the least cessation in the demand for wool or the attendance of buyers. There is, however, a. marked absence of American competition. the erratic nature of operations on United fe.ates account being to-day very much in evidence. It is well known that stocks are below normal, and yet Boston dealers in particular are still offering- to sell decent parcels of both merinos and crossbreds to Bradford and other buyers. Before the end ot the season it is just possible we may see some °f their purchases of superior merinos sent back to Coleman street for re-sale, for by July the London market will be Very bare of merino offerings. We are not surprised at America lying low, for that market is very much like Bradford—below London and colonial selling centres. It does seem strange that wool should keep on the top of all other successive stages of manufacture in regard to prices, and yet that is a fact. It does seem a strange piece of business for anyone to pay more for raw wool than it is worth in the combed or spun stage, and yet wool is fetching to-day relatively better prices than anything else. That i 3 one of the abnormal features to which Mr Harry Dawson referred a week ago, and th© further one gets away from the raw material the more disappointing are the prices obtainable. And yet London carries on as if all was lovely in the garden, there being not the slightest reserve in competition, or the slightest weakening in prices. The sales are due to finish next Tuesday, and this will complete one of the shortest series ever known at this time of the year. SOME GOOD PRICES FOR MERINOS. There continues to be a very marked absence of merino clip offerings, but plenty of speculators’ lots. Viewed from this standpoint the sales are disappointing, and one would have liked very much to have seen a better display of straight lots. Perhaps the biggest clip so far offered is one from Western Australia marked Boolathana / J & C B, comprising 617 bales. It was good 64-66’s quality, and the top line would give a clean yield of 48 per cent. This made 301. d in the grease, which works out at clean. The next lot of AA combing comprised 67 bales, offered in two lots, the first making 30d in the grease an. the other 29jd. Together they would give 46-47 per cent, clean yield, which works cut at about 63-id clean for the two lots together. Then the next lot was somewhat heavier, and there was a marked fall in the price, this making 26d, or 58d clean. In the case of the fleece, some excellent prices were forthcoming, the first lot of 14 bales touching and with a yield of 45 per cent, this means 61d clean. Two more good lots were sold at about the same price. We thought the backs stinking dear, 28 bales making 28d, which works out at 65d, and the next lot 63d clean. Perhaps one buyer may give a higher yield than another; but the necks seemed more reasonable at 26d, the yield here being estimated at 43 per cent. In the case of the super pieces, these also made 26d, and gave 43 per cent, yield. A 47-bale lot of AA pieces made 22W. or 54d clean. There were quite a number of lots, all of which sold exceedingly well. The summer lambs had been carefully classed, but were taken in, the first five bales of super lambs commanding a bid of 2Sd, the next lot 27d, and 10 hales 25d; but they were all passed in. This clip had been very carefully classed, and a word of credit is due to the owners for the splendid way in which they had got up their wool. Another leading- West Australian clip was marked Murgoo, this also being splendidly grown, and commanded very good competition. It was decidedly lighter than the previous clip, and, being a Murchisongrown clip, was in splendid order. Of course, it was in the greasy state, the wool being shafty and sound. The AA combing E cleared the deck at 35id, the quality being good warp 66’s and the yield 54 per cent. The next lot of A combing E made 34d, which was a little heavier at 51 per cent, yield. Then came the BB combing at 34d. 52 per cent, yield. Then followed AA fleece at 34d, A fleece 33|d, and 10 bales of fleece W H & E. II at 324 d. The backs made up to 32d, necks 30d, another lot 32id, pieces 31d and 29id, and even the lambs touched 28d for the first lot, followed by 10 bales, which were taken in at 23£d bid. This was a splendidly grown clip, Mshlv creditable, and sold magnificently. On the same day a Aerv satisfactory New Zealand merino clip (Dumgree) was catalogued, which went almost entirely to the home trade. This is a Marlboroughgrown clip, and came in for splendid coinpetition. It avus superior Avarp 64’s. in nice condition, and made exceedingly good figures. The top line of super merino combing hoggets touched 36d: same price for 34 bales of AA combing E. Then folowed three lots of combing at 35d; BB combing hoggets 32d, pieces 28id, bellies 27£d. and halfbred combing 294 d and 28Jwl. Surely there can be nothing Avrong with a market like that, particularly in view of the fact that these wools were slightly fatty, but exceedingly sound and well grown. Of course, the absence of burr and seed was greatly in their favour. Queensland has only been represented in a middling way, one of the outstanding clips being A P Co./Noondoo / N. These were big lots, and the Australian Pastoral

Company, who own the clip, is to be complimented on the well-grown character of the wool. The first few lots were good super 70’s to 74's quality, the first lot of 71 bales of A combing E touching 32d, or 69d clean. Then followed another 70 bales of the same wools at 314 d. Then came 70 more bales, which made 32£d, and which works out at 69d clean. Then came 139 more bales of B combing E, which made 30jd for Germany, or 63jd clean. Dor the O combing E 30d and were made for 101 bales while 41 bales' of A lambs made 28d, which will cost 5s clean. Ot course, this was largely a question of quality—in other words, these wools were best suited for the Continent on account of quality, and certainly * realised very big figures. BIG PRICES FOR CROSSBREDS. W hen we come to crossbreds there is little to be said except that they continue to meet an excellent market, and one that shows not tne slightest sign of giving way. Of course, the home trade is taking the bulk of the offerings, but all the same .Trance is securing some very nice parcels ot the shorter stapled wools, and the full opening advance of 5 to 74 ner cent on fine crossbreds, 10 per cent, ‘oil medium, and 10 to 15 per cent, on low qualities is in evidence. Scoureds and stipes are often 10 to 15 per cent, higher. The market is very steady, with a healthy and satisfactory demand for wool. Among tne New Zealand wool was a very useful lot branded Te Puru, the clip evw dently having some Down blood in the staple. The first 14 bales of fine crossbred H, which showed very good 62 8 quality, and would give a clean yield of 74 per cent., sold at 254 d in the grease or 34jd clean: six bales of very good 50’s made 24d in the grease or 32d clean. Then came six somewhat heavier bales, the B combing making 21d or 2?d clean, eight other bales of good 48’s with a clean yield of 78 per cent, selling at 19d in the grease or 264 d clean. Another lot which made 22d in the grease was good 48’s quality, and at this price the clean cost would be 28Ad. Among the slipes some figures are being paid that stagger one when we go back 12 months and see the difference there is in to-day’s prices compared with the corresponding series a year ago. For instance, some slipe super Leicester wools made 22id, but the wools were more like three-quarterbreds, being good 46 b quality. Wien came seven bales of slipe super Lincolns, which were 44’s and made 20id. We frankly say that these New Zealand slipes are fetching relatively better figures than corresponding qualities of home pulled wools. Some slipe threequarter bred of the same mark made 25id, and another lot of- Leicester sheen’s wool again made 22d. Some fair quantities of second-hand crossbred lots are being offered, which cannot but he realising a handsome profit to the owners. For instance, good super 50's greasy fleece wool is selling up to 23d, and a good line of six bales of 52’s wool made 24d, other lots of 50’s somewhat heavier, selling anywhere from 20d to 22d. Judging by the limit of some of these wools, it is patent that selling brokers are well pleased, which is taken to reflect the attitude of the owners. SALE OF A BUTTER-FAT CHAMPION. The Southland Ayrshire breeder, Mr A. M. Weir, of Edendale, who bred and tested the champion butterfat producing cow of the Ayrshire breed, in Ivanhoe’s Fancy, 724.011 b in 365 days, has recently sold an eighteen month’ old son of this great cow for a record price for a bull of the Ayrshire breed, the purchaser being Mr Quinton Donald, Featherston, Wairarapa, who maintains several dairies on the good lands of the South Wairarapa. An unusual circumstance attached to the purchase was a condition that the bull, which was actually purchased at the time of the Southland Metropolitan Show last November, should not be delivered until after his breeder had used him for the entire season. It was only on this condition being agreed to, that the purchase was consummated. a< Mr Weir wishes to use the son of the champion producer witn the best of his own stock. The bull, which is stated by competent judges to be one of the best types of dairy bulls in New Zealand, has nowbeen safely delivered. The sire of this high priced bull, was a previous champion at the Southland Metropolitan Show, and his dam was also a great champion, and finally was sold and exported at a record price. The sale of this bull at a record figure i.« a further tribute to the growing popularity of the Ayrshire breed, representatives of which have lately made many fine butterfat records. In Mr Weir’s herd, for example, a half sister to this champion cow has produced 6461 b fat. and other members of the same family are making great records this year These cattle are also testing well, as Ivanhoe's Fancy has an average test for the year of 5 per cent, butterfat. and another of her half sisters. 5.2 per cent. It is unfortunate, seeing the progress this breed is making, that the proposal by Ayrshire breeders, to import 12 of the best young milk-record bulls from Scotland, has meantime been shelved owing to the restrictions placed on home bred stock, on account of foot-and-mouth disease. Messrs Wright, Stephenson & Co., Ltd , who report having made the above sale, announce, however, that the above enterprise will be proceeded with later on. when the outbreak of this serious disease is quelled.