WOOL SALES.

Poverty Bay Herald, Volume XLVIII, Issue 15774, 15 March 1922, Page 7

WOOL SALES.

GOOD COMPETITION. Elec. Tel. Copyright-United Press Assn.i Australian »'"* N Z Cable Association., LONDON, March la. ■U the wool sales there was a moderate selection. There was good Home and Continental competition for all sorts at full late rates. , •

AUCTIONS AT NAPIER. NAPIER, last night

Although the wool offered for the fourth s;ile of the season, which was held to-dav, had not the lustre of that presented at previous sales, competition was, nevertheless, keen. The bench of buyei, was representative of most sections of the trade, but, as better class wool did not figure on the catalogues, tha local woollen mills were not represented Verv little super wool was offered, but 'the demand for inferior grades was more marked than usual. A particularly striking feature of the sale was the demand for pieces, bellies, and scouring sorts, prices for which ' were weil maintained. Continental and 'Bradford buyers were prominent in .'procuring lower grades. The quantity of the lambs' wool offering was very limited, and the quality did not offer much.inducement to buyers. A greater portion of the lambs' wool sold was for Canada, Continental buyers holding back. The bulk of the 11,623 bales offered was back country wool and seedy and log stained, and consequently of low quality and heavy, and, on'the whole, it appeared that prices were down slightly. About 20 per cent, of the total offerings was passed. American competition was completely lacking, lots that would haive be :n suitable for them being ignored. It is estimated that lambs' wool fell fully Id, due chiefly to the fact that French buyers had completed their orders previously. The, official range of prices is:—

Fine half bred : Super 13d to 14d ; average lid to 12id. Medium halfbred : Average to lid ; inferior to 9^d. Fine crossbred : Super BJ,d to 9d; average 6d to .Medium crossbred: Super 9d; average 6d to Id ; inferior to s£d. ■ Coarse crossbred : Super 6d to 6^d; average 5d to s£d ; inferior to 4sd. Low crossbred : Super 5d to 6d; average 4d to 43d: inferior 3id to 4d. ' Hoggets: Fine 8d to 9d; medium to 7idj coarse 4d to 5Ad: low 4id to 4-'d. "

Lambs: Fine 6£d to 83d ; medium s£d to 6£dj seedy and inferior 3Jd to 4£d. Bellies and pieces : Crossbred, good to super 33<1 lo sd; low to medium 2d to 3i-d. • , : Crutchings: Medium to good '3d to 4]d: inferior and sootlv id to 2£d. Locks: Crossbred Id'to 2-id.

There was a considerable quantity of wool from Poverty Bay agents included hi the catalogue, one firm having' sent from the back country and the Coast about 1000 bales, while the shipment of other firms ' are estimated at close to 1000. Reports received from Napier, representatives of the local firms indicate that the better classes of fleece wool, about 44's to 46's quality, met with a disappointing sale, due to the absence of American buyers. These classes of wools realised generally from 6d to 7d per lb, showing a drop of a good penny per lb on recent levels. ' . For coarser fleece wools, there was apparently a keen demand from Continental and Bradford buyers and .prices were well maintained. The feature of the sale was the exceptional prices paid for good bulky pieces. Local brokers' report sales of these for 4d to per lb. Second crutchings, pieces and bellies did not meet with the same demand.

Messrs Dalgety and Co. advise receipt of the following wool cable from their head office, dated March 10:—"Wool sales continue. Merino, except short faulty pieces and bellies, are. higher, and prices are on a par with last sales closing rates. Crossbred wools, fine quality, 5 to per cent, lower. Crossbred wools, medium quality, per cent, lower. Crossbred wools, coarse quality, change, if any, is in "favor of seller. Crossbred wools, jtoqji demand, change, if any, is in sellers' favor. Slipe wools unchanged.