WOOL AUCTIONS.

Poverty Bay Herald, Volume L, Issue 16607, 10 December 1924, Page 5

WOOL AUCTIONS.

THE NARIEIi SALES, STABILISING OF THE MARKET. AN EASIER TONE. v i/er lAiesa As&uciitUoi..; NAIMER, Hist night. The .second wool sale ui tlie season in .Napier opened tins evening, when annul of,GO bales of a total catalogue ol 2d,,ii? Mere offered to the usual i.encli oi buyers, a majority of whom appuired to ue lookers-on. Many buyers who took largo quantities at the first sale liard.y put in a single bul to-night, but two new operators helped to maintain tlm market to some extent. Otherwise it is thought the market would have shown a heavy decline. As it was, llcece wool, taken all round, showed a decrease on tlm last Napier sale up to twopence. .Scouring woo.s declined a penny and .super fleece wool was also easier. But, on the other hand, good pieces and necks met with keen competition from France and Now Zealand mills, and showed an increase on the previous sale’s rates.

Him lot of necks brought 24d. Lambs' wool showing any quality was keenly sought alter, and prices were maintained.

Southdown went as high as 34Jd, and half-bred to 32j}d. One. lot of hoggets’ wool readied 28jjd, hut tlie hulk of this ciuss sold at .several pence Jess than that anticipated. When only half a dozen buyers were now operating to fulfil requirements, it seemed that there might he a further considerable drop in prices. The bidding lacked animation ; in fact the auctioneer was provoked into such remarks as “Got to it!" “Come on or you’ll go Li sleep!”

(Special to the Herald.)

NAPIER, this day

Wiii’ii the second Napier wool sale lor Hie 1924-25 season opened last, night, a. total of over 2,S,()()() bales comprised iln* offering to lie sold, and of this aggregate .'I.IOO bales Were I Poverty Bay wool. Tlie recent, skyrocket prices had stimulated intense J interest in the sale, and the attendance both of growers and outsiders when the sale opened last evening was phenomenal. Early in the proceedings, however, it was obvious the bidding was not characterised by the elastic limits which marked the operations of certain buyers at last sale, and a falling off in the prices for crossbred wools was soon evident. Tho decline never threatened to be serious; in fact, more than anything it was probably a stabilising of the market following the bumper prices recently recorded, but nevertheless many producers were a trifle disappointed to find their wool realising nearly 2d per lb. less than did similar clips at preceding sales. Tlie falling-off was not spread over the whole range of prices. Certain super-wools were again keenly sought for, two hales of Southdown realising M4HI, while three bales of scoured hoggets brought 841(1. A ewes made as high as 29:}d; half bred to Ifflljd; lambs, for which the demand was good, 2!).jd; necks also were good at 24Ad. Even in these classes, however, prices were not always consistent with the above figures. The French, American and German buyers seemed hardly to he operating with tlie same freedom as at last sale. Bradford buyers took a large proportion of the offering, New Zealand scouring firms coming in when opportunity offered at generally easier rates. Summarised, the position after last night is that a decline of nearly 2d per lb was apparent on most of the crossbred wools. The decline is compensated for, to some extent, by the increases in tlie’ minor classes, but the tone of the market on the whole is undoubtedly easier. The sale continues at 9 o’clock this morning. As indicating the range of prices, tho following values were received for one fairly representative clip from Gisborne district: 4 bales HA 25}d, -hales B 24,1, 10 bales E 2iHd, 5 bales AE 2(id, 1.2 hales BE 2m}d, 10 hales OE 22d, 14 bales EE 22Ad, 4 bales bellies lfijd, 6 bales pieces 28!|d, 2 hales ED 23Jd. TO-DAY'S SALE. BIDDING LESS ANIMATED. (Special to tlie Herald.l NAPIER, this day. Prices at tins second Napier wool sale did not improve sis the sale progressed to-day, and it, is apparent that, the lofty prices registered at the previous sales are not to he repeated at the moment. Tin ee brokers’ firms disposed of their offerings last night, when the bidding showed a tiiedeney to he slow, though occasionally it livened up into a brisk crescendo of boisterous challenges. This morning’s bidding was even less animated, being .singularly spiritless, so that it was obvious buyers were operating under rigid limits. After last night the decline on nearly all classes Of crossbreds approached 2d per pound. To-day it was fully that amount. Buyers from the outset put. moderate prices on tiie offerings, and frequently were very slow in opening the bidding. Hawke’s Bay Farmers, Ltd., occupied ail the morning, disposing of an extensive catalogue, and choosing at random from the catalogue of crossbred wool, prices realised for ten lots were 20jd, 22-id, 23£d, 22|d, 20|d, 23-jd, 22jjd, 22d, 23dj and 21d. .Several lots were passed in but most of the producers were content to accept the judgment of the market. There were instances, as usual, of tlie superoptimist who believes his wool is priceless. The reserves in such cases were frequently greeted with laughter from tlie benches.

Pieces, bellies, etc., were sought by English and Continental buyers at prices ranging from 15jjd to 16|d. In one ra.se buyers hesitated to offer a starting bid for four bales of pieces. The auctioneer asked for 18 pence as a start, but the! best forthcoming was 14 pence. Thence the bidding advanced sluggishly to 16£d —a price not reaching the.seller's reserve.

American competition appeared this morning to practically non-existent, in direct contract to the conditions prevailing at last sales when America was buying freely under apparently elastic limits.

Bradford again took the bulk of the offering.

An example of where the wool went is afforded by the random selection of names of buyers, ten successive lots going as follows: Hill, Willey, Dawson, Burke, Willey, Burke. Hirst., Whittingham, Willy. OVer the above lot. coinorising an average selection of crossbreds. the range of prices was as under: 25/d. 25'd 23-Jjd, 22Jd, 213 d, 22 Jd, 23 jd, 23d. 23d, and 21d.

Cf the buyers participating in the. foregoing selection Francis Willev and Company, Walter Hill, Wbiltingham and Hirst are the firms generally operating on behalf of big English hitere-its. A notable feature was that one or two well-known buyers, oneratrd very little, and it- was only the entry of hitherto rather inactive eonmetitors which maintained 'prices as high as they arc. Buvers are, in general, a secretive breed, and do not talk much of their

activities. To your reporter to-day. bower, one prominent buyer nu<le i-hn iol - lowing interesting statement : "These I prices will bring farmers down to earth, but. there in no need for depression, because the lates ruling to-day unquestionably represent to the farmer a- highly satisfactory return per sheep on which a return of practically £1 per head will still he secured. This is an excellent, figure considering that the accepted basis of. profitable ret urn is £1 for ewe and lambs. The probability i.s that the present prices represent a welcome stabilising of tlie market, hut growers must realise that the wool market is sub. jeet to great find nations and is acutely sensitive to outside influences, international or political in character.” DALGETY AND CO. Dalgety and Co. report, as follows in regard to the Napier sale: This fixture commenced last evening, when three catalogues were submitted, the rale cumclmJing v.ell after midnight. Buying thiv.ugli mi! lliosaie lacked animal ion, and Bradfold buyers Imuglil most of (lie offering. It. was not ii eab.V that Amo. in,an inprosentativi's were duly opeiating to a very small exlent. French and New Zealand mill buyers kewdv competed for necks and pieces. Tim absence of American competition would account fur super and lino crossbred pieces being from Id to 2d lower Ilian last Napier sale- i] not at ions. There was a keen demand for lambs’ wool. At the close of the last Auckland sale prices for fine wool eased considerably, so tile Napier market is in sympathy with that movement. Medium and coarse crossbreds realised prices on a par with last. Napier rates. Tho following prices of local clips offering in our catalogue last night show clearly that the drop indicated above is only in (he finer Romney clips:—• On behalf of the Gisborne Sheep farmers’ F.M. and M. Co. wo sold the followin'/ clips: j Black, dot in circle: 7 hales A 24d. E AI over 3 triangles: 18 bales AH 26d ; 14 bales A 25d : 16 hales AE 26 : M; 7 bale.-, BIT 23Jd ; 6 hales B 23d; 19 hales BE 23d; 6 hales C E 22L1; 20'hales Ist pcs 18d : 8 hales bellies 16J<1 ; 4 hales 2nd j pcs 14jjd ; 3 bales seedv pcs 16] d. ' Glfindhu : 5 bales A 23j?; 4 halos B 22d. I Pakowhai (Black): 4 bales 2nd lambs 23Jd; 3 hales Ist lambs 271 d ; 11 bales | 2nd pcs 15jd; 8 bales bellies 15jd; 6 bales Ist pcs 17d : 3 bales R. rams 26d ; i 12 hales C 22JLI: 20 bales B 23d : 16 'bales I A 26jd. I Other well known brands offered were : I G.B. : 3 bales AW 24d ; 3 hales BH ! 24id. E.M./G : 8 bn Ns BH 23'd. ' Pukekiwi/LMD: 4 hales AH 24d: 7 bales AE 231 d ; 3 hales BH 19, 3 YI : 13 bales BE 21d ; 3 bales OE 20d : 5 hales Ist pes 17d. NG/O : 5 halos A ligts 23d ; 7 bales AE 23d; 4 bales pcs 35jtd. DD: 5 bales BIT 23R1: 9 halos xbd W 23jd ;18 bales xbd E 23d. L & S/Tnwa : 4 hales A H 24d ; 6 bales A 24Jd; 5 bales BH 23d; 12 bales B 23Jd ; 5 hales G 21d ; 6 hales Ist pcs 16.jd. McK Bro: 8 bales AA 231 d ; 4 bales A 22Jd; 3 bales B 21-id. LGB in block: 7 hales ATI 26id; 4 bales BH 23d. ASM : 6 bales ligts 24fd ;17 -bales xbd E 23Jd; 3 bales pcs 16d. GAC/O : 6 bales AH 23id ; 3 halm BH 19Jd ; 3 hales A. 23id ; 4 bales B 22-fd. OC7N: 4 bales BH 24d; 4- bales A and B 22gd. Rammi: 5 bales A Romney 22Jd ; 3 hales Ist pcs 16d. * ’ AB: 4 bales AH 23;]d ; 7 bales AE 22 jd. Kowahi-imi : 4 bales AE 25d ; 6 hales BE 23d; 3 bales 1)H 23d: 10 hales CE 23d ; 7 bales A pes 18;?il : 3 'bales bedim 16Jd. ('• bar: 5 hales D 19-jd. LONDON AND BRADFORD. (Elec. Tel. Copyright Ceiled Press Assn.i ■Australian and N.Z r t"l>k> Assoeiatmn. LONDON, Dec. 8. * At- the wool sales 9698 bales were offered. There was a moderate selection. Crossbred sold readily and prices were steady. Merinos were in demand, but the market was quieter-and prices were rather easier. Medium scoureds were frequently bought in, and slipes sold irregularly.

SYDNEY SALES

SYDNEY, Dec. 9

At the wool sales the competition was keen and the market firm. Super wools of specially fine quality realised extreme rates. Crossbreds of all grades made full late rates; greasy merino realised 51-jd, which was a record for an Australian market.