WILL LONDON FOLLOW?

Poverty Bay Herald, Volume LX, Issue 18257, 28 November 1933, Page 4

WILL LONDON FOLLOW?

AUCKLAND WOOL VALUES • * EVERYONE SURPRISED MORE EIRE OLD TIMES Auckland wool values yesterday took everyone bv surprise,. They showed a substantial inereaSePon Loudon realisations last week, and the question now is: Will London follow the lead set at Auckland? To-day’s cable news does not suggest that it did.

One of two Things must- happen this week: Either London values mum move up sharply iu sympathy v. itf* Auckland, or Auckland will be ignored and Napier rates will show a substar tial decline from those at Auckland. Stion, Gisborne growers should have confirmation of the Auckland values, and will be able to gauge more accurately what their wool will be worth at Napier on Friday. It is impossible to say at the moment just to what extent Auckland rates wore above London parity. To-day 's official range of values is a guide, but only to a comparative degree, for each centre has its own standards in describing counts and qualities. It is agreed by Gisborne brokers, however, that Auckland values are substantially ahead of those ruling in London last week.' INFERIOR {SORTS SOAR. At first, both growers and brokers in Gisborne were disinclined to believe the extent to which the market had risen at Auckland, and they did not disguise the fact that values were far above their expectations. Now that they have recovered from their initial surprise, they are revising their values of the wool entered for Friday’s sale ai Napier, although they are waiting for London’s confirmation. A perusal of the official range of prices shows some surprising values compared with March rates. Generally, prices were sai l to be double those in March, but iu some cases the difference is much, greater. For instance, medium crossbreds, 46/48’s, inferior sorts, realised lid to 2§<l last March; yesterday they were quoted at 91 d io 101. There are several other instances such ns this to show that at last inferior wools have a value. Inferior to seedy crutchiugs which were - selling at I|d down to Id last Alareh ■ had a range of 3sd to 4|d yesterday. These prices are returning nearer to : those of better times, and should do ; much to hearten the farming community, as well as business people. Wool 1 has at last a value. Last season, it ) was hardly -paying shearing and selling r charges; this season, if values do not decline as sharply as they have risen, . there should be a good surplus above , shearing, handling, freight and selling , charges, although the economist may A not call wool-growing a profitable undertaking, after meeting all farm costs, . until a further rise has taken place. 1 THE NAPIER OFFERING i i Brokers have catalogued 23,714 bales for the Napier wool sale to be held on A Friday. Tlie allocation was 26,000 bales. ! The wool is distributed among the ! following brokers: — /- Bales. Williams and Kettle, Ltd. . . 5,600 >- Hawke’s Bay Fanners’ Co-op. 5,000 Murray, Roberts and Co. .. 4.321 * Dalgetv and to. .. .. .. 4 052 t dePelichct, McLeod, Ltd. .. 3,200 1 Loan and Mercantile Agency . . 1,568 : Total 23,741 r '} The sale will commence at 2 p.m. t The offering will be mostly of light I clean wool of generally good quality, s It is lighter fleece than usual, owing i to the seasonal conditions, but the recent period of sunshine experienced in Hawke’s Bay has brought the grease up in the later shorn clips. Gisborne wool is being dispatched to Napier at present for the second sale on January 11. Much of it from the , Hangaroa and Tiniroto districts is be- - ing taken direct by motor lorry. !i J AUSTRALIAN SALES I PRICES AGAIN ADVANCE AVERAGE 0F,16.79d PER LB. (Elec. Tel. Copyright—United Press Assn.) (Received Nov. 28, noon) MELBOURNE, Nov. 28. The wool sales closed with prices on a level with the best rates of last week. ! Tlie average price realised for greasy wool sold during the week ended tiatur--1 -day was 16.79 d per lb., or £2O 8s 5d 1 per bale on an average weight ot 291.781b5. | 'Phe Brisbane wool sales opened with particularly keen competition. Values, compared with the closing rates in Syd- > ney last week, were very firm for all fleece wools, while skirtings were fully 5 per cent, higher. Greasy realised to . 25d, and scoured to 34Jjd. I The Perth sales opened with prices ! higher than at any sale since 1928. Practically a full clearance of 25,000 ‘ hales was effected. Prices ruled 10 to 1 15 per cent, above the October sale, and on a parity with recent Australian markets. The top price was for super merino. Scoured wools brought to 32 id. LONDON SALES RESUME MORE WITHDRAWALS (Received NovemTier 2S, noon.) LONDON, Nov. 27. At the wool sales, 9159 bales were offered, including 2485 from New Zealand, and about 750 l bales were sold. All best descriptions encountered-brisk competition, and realised full rates. Others were quieter, and there were some withdrawals, selling limits not being reached. New Zealand sales: Greasv halfbred, lutinga, top 17d, average 16|<I; greasy crossbred, Hekenga, l3Jjd, 10|d. At Bradford, business is quieter, but quotations are firm. THE DUNEDIN SALE • FURTHER RISE EXPECTED (Per Press Associa t ion A DUNEDIN, this day Local opinions are that the t.tago wool prices should exceed those secured at Auckland yesterday, because. While 90 per cent, of the northern offering was 1 crossbred, Otago will auction 70 per 1 cent, halfbred and merino,