THE WOOL MARKET

Southland Times, Issue 19459, 26 January 1925, Page 6

THE WOOL MARKET

SECOND DUNEDIN SALE. PRICES SLIGHTLY LOWER. BRADFORD OPERATORS BUSY. (Per United Press Association.) DUNEDIN, January 24. The second wool sale of the Dunedin series closed to-day. London sales, according to report on Tuesday last, showed at the opening a depreciation of values compared with the November series of 7} to 10 per cent, on Merino 5, per cent, on fine and medium crossbreds, and up to 5 per cent, on coarse wools, and as this sale progressed it was seen that prices would not average up to those of the December sale. It was fairly evident after watching yesterday and today’s sale, that had the catalogues been unlimited, buyers would have more than filled the orders in hand, and large portions of the offerings would have been taken at lower prices by speculators or passed altogether. The bidding could only occasionally be said to have been keen, and the fact that the auctioneers could only average 230 to 250 lots per hour is an indication of the difficulty with which bids were extracted with a weakening market. This of course can be understood. While the statistical position of the market is undoubtedly Stronger than it has ever been, the slow trade which manufacturers have found following the high prices for wool in November and early December, has created a certain state of nervousness in financial as well as manufacturing circles. Nevertheless, although prices here can be quoted as generally lower all round by Ijd to 2id, compared with December, the average is still wonderfully good, and . should give satisfactory returns to growers. The bulk of the offerings were taken by Bradford, but Continental buyers were well to the fore and lifted considerable quantities. Some lines may have been taken for America, but they were not particularly noticeable. Local mills, who preferred to buy their supplies here if possible, were of considerable help on lots suitable to their trade, as was apparent in the December sale. The prices paid were at times somewhat erratic and buyers, brokers and growers are at a loss to understand the differences that are sometimes made. The offering on the whole was in good condition and comprised some of Otago’s wellknown clips, which on opening were found to be in excellent order. RANGE OF PRICES: Following is range of prices:—

THE LONDON SALES. GOOD SORTS SELL WELL. LONDON, January 23. At the wool sales there was a good selection, good wools selling fairly well, but on a lower basis than at the opening sales. Average and inferior brands were mostly withdrawn.

Merino— d. d. Extra super_ _ 33 to 35 Super 30 to 32} Average— — — 27 to 294 Inferior 22 to 26 Fine Halfbred— Extra super 33 to 361 Super — — — 30 to 32} Average— 27 to 28? Inferior — — 24 to 26:} Medium Halfbred— Extra super — — 294 to 31 Super 27 to 29 Average — — — . 244 to 261 Inferior — — — — 23 to 24 Coarse Halfbred— Extra super — — 26} to 30 Super — — — 25 to 26} Average — ...... — — 22 to 24} Inferior — — — — 20 to 211 Fine Crossbred— Super — — 25 to 27 Average — — — 224 ! to 24’ Inferior — — 194 to 22 Medium Crossbred— Super —.— 234 to 25 Average — — — 214 to 231 Inferior — — — — 18 to 21 Bellies and Pieces — Merino, good to super 21 to 29.1 Merino bellies — 18 to 26} Merino, low to med. , pcs 17 to 204 Merino, bellies — 15 to 171 Hbd, good to super pcs 20 to 271 Halfbred bellies — 16 to 22} Hbd, low to med. pcs 15 to 19 Halfbred bellies 14 to 153 Cbr, good to super pcs 17 to 211 Crossbred bellies 15 to 18 Cbd, low to med. pcs 14 to 16 Crossbred bellies — — 13 to 144 Crutchings— Medium to good 13} to 15 Low to infer, and seedy 9 to 13 Merino locks — 11 to 161 Halfbred locks — 11 to 143 Crossbred locks — 8 to 12