VALUES OF WOOL.

Poverty Bay Herald, Volume LI, Issue 16671, 26 February 1925, Page 6

VALUES OF WOOL.

ST A TTSTIC ALLY IM PR EG X ABLE POSITION. “The quality and condition of the wools brought forward for such a late sale, were particularly good, many bright, ni i motive crossbreds being on offer, also,’’ slate Messrs. Dalgety aiid Go., regarding Monday’s sale at Wellington. “We submitted a good selection of all qualities, including some really good merinos and halfbred clips from Marlborough, our total being 4450 bales. “A pleasing feature of the sale was that, although the market has been a gradually falling one since the boom sales of November —which arc in reality to be regretted —competition was distinctly more general than was the case at the last Auckland and Wanganui sales, and it is hoped that a safe level of values has now been established, and that the market will remain linn. It would appear that prices for wool ruling throughout the Australasian and London markets during November and December were mi such a higli basis that manufacturers have been experiencing considerable difficulty in disposing of the manufactured article, and under these circumstances there seemed nothing for it x but that high prices of the raw material should recede, to a level on which business could be conducted. A decline from the inflated values of November was no doubt justified, bill we do not think that there is any justification whatsoever for anything in the nature of a slump in wool, which, after all, is wanted by all countries, and statistically holds an impregnable position. When otic reflects upon the prices obtained at to-day’s sale, it must be generally admitted that values are very satisfactory, and payable, even though the market for crossbreds must be quoted on the average 2Ad to 2d. down on Wellington January stile rates. Generally speaking, the wools which do not show the above decline are the good, bright, strong crossbreds aild straight Lincoln, and these can be quoted about lid. lower. Lincoln wool is in especially strong demand, and the quantity offering is very limited. “Good general competition was forthcoming from all sections of the trade, with Bradford as usual to the fore as the largest buyer. America, in the usual spasmodic way, was again in the market for the super Romneys, and bought a good percentage of the quantity offered. This section of the trade, no doubt, realises that the season is now fast, drawing to a close, and that catalogues of the few remaining sales will comprise mostly inferior to medium crossbreds, which are quite unsuited for the U.S.A. trade. German competition was not very pronounced, and their purchases were of small compass. This was regrettable, as the class of wool they require was in good supply, and prices for such suffered through lack of strong Continental competition. They, however, competed freely at times for bellies and pieces, and lifted a fair quantity of such wools. Italian and Belgium buyers were also reserved, and Franco, who is generally a strong buyer of good lambs' wool and super necks and pieces, was not at this sale interested to any great extent. “Super lambs’ wool was dull ot sale, and medium and inferior parcels were only saleable at low limits. At: times throughout the auction bidding on certain wools, principally super and medium crossbreds, was animated, and often buyers would put in their full limit at one bid. Bidding was certainly brisker and livelier than at Ihe last, three sales held in the North Island. Merinos and halfbreds did not meet, excited competition, and, as local mills were only small buyers, it was left to Bradford to do most of the bidding, and they secured a large quantity of the offering at prices well up to London parity. Throughout the world prices for these liner wools have suffered a sharp decline, and many growers have faced the position by accepting present ruling rates. Even at the lower values, present prices must, show a good return, but a depreciation of Sri to !)d per lb. within two months ijiust; cause the grower, who has not been fortunate enough to market in the early sales, to suffer a pang of regret. “We offered a large nuriiber of clips reclassed in our store, also many linos of binned wools bearing our special reclassed brand, and for such received excellent competition. We made some good prices for merino and crossbreds, a few notable sales being; Merino: Tnmmil .1, merino ewes, 28d; Redwood .1, merino wethers, 27 Ad; Eli in D, A merino ewes, 2Sd. Crossbred; Tupurupuru A ewes, 22d; WHB/ABW Romney ewes, 203 d; Yiillcylield A A Romney ewes, 22 Jd; AVAL, Romney hoggets, 22d; AVangaehu/HJ A A ewes, 21}d. Lambs; WH/ABAV, tine lambs, 24d; WP/H, line lambs. 23M1.”