CONSIDERABLE ADVANCE

Poverty Bay Herald, Volume LX, Issue 18181, 31 August 1933, Page 7

CONSIDERABLE ADVANCE

DUNEDIN WOOL SALE FINE SORTS WANTED ’ GOOD DEMAND FOR CROSS- < BREUS (Per Press Association.) DUNEDIN, this day. A supplementary wool sale was held yesterday, a representative'bench of buyers being present. The offering totalled 3902 bales, the bulk comprising crutchings, apd, with the exception of a few held-ovpr clips, fleece wool, mostly of the straggler nature and 'consequently heavy in l condition and seedy. * • '■ t'i From the outset the demand for finer wools- was much keener than at the clo?e % of last'scason. Prices for this, class showed a considerable advance,., good, half bred selling up to Hfd, which, compared with last season’s ’prices, shows an advance of approximately 35 per cent. On average and inferior half bred and also merino "the- ■porce'Hthgw'Af iihcri’A'm.'.WaW^.veil, greater, .amounting to 50 por cent. - Tftei'e was'a good demand for crossbred wools, but while prices were up V. 25; per ■cent higher -than lasjt seas bn’s results of' the sale were hardly up to expectations. With crossbred it was only in cases where any fineness was showing that comparatively highei prices were obtained. Compared, however, with the very low prices ruling during last season growers of crossbred wool ivould bp.pleased, with the advance in values.

There was a general demand, bidding coming from all quarters,- with France in particular bidding very keenly for fine-wools. - Dominion mills were keen for any lots suitable for their requirements. < ’ . ' .

Crutchings sold extremely well, best halfbred crutchings reached B£d. This,shows a considerable advance on last season’s rates, when 4|d was the highest price ruling for fine crutchings. There was a fair demand for crossbred crutchings; these did not sell so readily as the finer qualities, the highest price obtained being s}d. Otheri oddments on sale realised good prices, especially locks and stained pieces, all of which showed an advance of’ up to 50 per cent on last year’s values. RANGE OF PRICES ■ The official range of prices is as follows: Merino.-r Super, 'to 13$d; average, 10|d to 12d; inferior, 9d to lOd, Halfbred.—-Super,Jl3<l to 14Jd; average, lldtd 12id; inferior, 9.jd to 10|d. Fine Crossbred. —Super, 9Jd to average, 8d to 9d; inferior, to 7Jd. Medium Crossbred.—Super, 7Jd to BJd;. average, 6d-to 7d; inferior, 4Jd 'to s|d. Coarse Crossbred. —Super, <Ud to average, 5d to 6d; inferior, 3Jd to 4sd. Hitlfbred Pieces and Necks. —Good, 4|d to 7d; inferior, 3d to 4d. Halfbred Crutchings.—Super, Od to B}d; average, 44d to ssd; inferior, 3d to 4|d. ‘Crossbred Crutchings.—'Super, l 4Jd to 5Jd; average, 3Jd to 44d; inferior, 2}d to 3sd. LotsksA-Good, 3Jd to sd; inferior, 2}d to 34d.

EFFECT OF RISE

SHfcEP PRICES ADVANCE

(Fir Fins Association.)

CHRISTCHURCH, last night. The. sharp rise in wool values was. reflected in the store sheep prices at the Addjfigton saleyafds to-day, which increased 2s 6d to, 3s 6d a head on late rates, the advance in some cases being ss, good sound-mouth ewes making from 16s to 17s 9d, arid good three-quarter-bred ewe hoggets to 20s. The auction of fat sheep was a keen one, ewes passing 30s, as the result of the advance of 2s 6d a head in all classes. Extra prime heavy wethers sold to 33s , 7d, prime- 28s 6d to 31s, extra prime heavy ewes to 30s 4d, and prime 25s to 27s 66d

HARDENING TENDENCY SYDNEY WOOL SALES (Elee. Tel. Copyright—United Press Assn.) SYDNEY, August 30. At the wool sales 12,423 bales were offered, of which 12,098 were sold, and 2289 bales were disposed of privately. The market showed a further hardening tendency, values reaching the highest, point of the season so far. The chief buyers were Japanese, Yorkshire, French and Germans. An almost total clearance was effected Greasy merino made to 19d,

PROSPECTS OP FUTURE ENCOURAGING SIGNS ADELAIDE, Aug. 24. “Profits for the year ended June 30 amounted to £105,279, which is |slightly higher than in recent years. Speaking generally there are, from a 'purely Australian point of view, '.some encouraging signs,” said the chairman, Mr J. F. Downer, at the annual meeting of shareholders of Messrs. Elder, Smith and Company, Limited. Mr Downer said that prices for wool ,W,ere now 25 to 30 per cent higher than iii March last, when the regular selling season ended. That improvement was important, particularly as it was based on the demand for wool having .overtaken the supply. During the wool year ended June 30, 1932, production in Australia was more than 300,000 bales greater than the preceding year. In the following year there was an increase of about 100,000 bales. In the same two years thero was also increased ’production.in South Africa. Nothwithstanding those’ increases, the market -held fairly well, showing strong consumption. Present indications pointed to a shortage of about 300,000 bales for the' coming wool year. This, together with a considerable "'reduction in South' Africa," would have" an important bearing .on future prices, especially for fine wools, which were chiefly supplied by Australia and South Africa. Mr Downer said the best advice obtained from -consuming countries was satisfactory. In • Britain there had .been considerable impetus during the past year in manufactures, due to some extent to the operation of the British tariff. It was anticipated that when the new season began the mills would have absorbed nearly the whole of their stocks. In fact, there were practically no unsold stocks of wool left anywhere. For the ’past three years production -of wool in America had practically met the. requirements of that country, but with an improvement in employment figures increased consumption might reasonably be expected. It was, therefore, probable that America would be compelled to import a little from -abroad.