WOOL SALE

Southland Times, Issue 19462, 29 January 1925, Page 5

WOOL SALE

RECORD SOUTHLAND PRICES. GENERAL AVERAGE LOWER. BIG BENCH OF BUYERS. The largest number of buyers ever seen at a Southland wool sale occupied the wool benches, which were this year set up in the Theatre in place of the Victoria Hall. The catalogue was a big one, and many came along to view the sale expecting the usual excitement accredited to the wool sales. This year, however, they were disappointed as the buyers were orderly, and it was only very occasionally that any spirited bidding was heard. The sale was one of the quietest ever experienced, the big prices evidently keeping a number of buyers out of the running. PRICES LOWER. Comparing the prices offered, and accepted, at the sale, it was evident that they were much below those obtained at the earlier sales of this year, while they were just a trifle below the recent Dunedin sale. The sale was a difficult one to follow as values appeared to fluctuate in a remarkable manner, indicating that many buyers were devoting themselves only to particular lines and leaving the bulk of the catalogue to others. Competition was never keen, except for the finer crossbred and, even then, after the first outburst, bidding was confined to two or three buyers. The top price was obtained for some fine halfbred from the famous Nokomai clip, which was sold at 30d, but other half-bred came very near this figure. There was more wether wool offered and sold this year than at previous sales and this brought good prices, ranging up to 26$d. BRADFORD BUYERS ACTIVE. At least 75 per cent, of the wool sold went to Bradford buyers, the Continental buyers, having bought heavily in the north, did not operate freely and this was one of the causes of the slow sale. The opening catalogue passed a fair percentage, which was increased in the next two lots offered. Merchants’ valuations were at this time about 2d to 3d in advance of those of the buyers, but during the luncheon adjournment valuations were evidently readjusted as more lines were sold under the hammer. Towards the end of the sale prices eased again and several big clips were passed in. The carry over will be the largest experienced for many years and, unless there is a large amount of private selling done, the catalogue in March will be heavier than last year. RANGE OF PRICES. The following table shows the advance in prices when compared with the March sale, 1924: March. January. Merino— d. d. Medium- to 27 27 to 28 Halfbred— Super Nil. 28 to 30 Medium 25$ to 27.1 26 to 27 Inferior..— 20 to 24£ 231 to 25 Threequarter-bred— Super Nil. Nil. Medium 19|t022 20 to 221 Inferior—lBJ to 19J 174 to 19J Fine Crossbred — Super to 285 Medium 231 to 24.] Medium Crossbred — Super 20 to 241 231 to 25 Medium 17 to 19. j 20) to 22] Inferior— 14 to 16| 18 to 19$ Coarse Crossbred— Super 18 to 194 19) to 214 Medium 15$ to 174 18 to 19 | Inferior 13 to 14 14$ to 17$ Crossbred Hogget— Super 26 to 28$ Medium 19$ to 21 20 to 24$ Inferior 15$ to 18$ 17 to 194 Crossbred Wether — Super to 26$ Medium— 21 to 24$ Pieces— Halfbred 21$ to 22$ to 25$ Ist Crossbred 19$ to 20$ 19 to 23$ 2nd Crossbred 14$ to 18$ 14 1 to 18$ Inferior 11$ to 12$ 12$ to 13$ Bellies — Halfbred Ist Crossbred 16 to 18 16 to 21 2nd Crossbred 14 to 15$ 14$ to 15$ Inferior 11$ to 13$ 11 to 13$ Crutchings—--Ist Crossbred 12 to 13$ to 14 2nd Crossbred 9$ to 11 10 to 11 Locks ——— 8$ to 12 8$ to 9$ Necks—--Ist Crossbred 21 to 22 2nd Crossbred —.. 15 to 17 The following table shows the prices as compared with the Dominion sale of last week: RANGE OF PRICES. Following is range of prices:—l Dunedin. Invercargill. Merino — d. d. Average —~ 2/ to 29$ 27 to 28 Medium Halfbred— Super . 27 to 29 28 to 30 Average 24$ to 26$ 26 to 27 Inferior 23 to 24 23$ to 25 Fine Crossbred — Super • 25 to 2/ 2/sto2Bs Average 22$ to 24$ 231 to 24$ Medium Crossbred — Super 234 to 25 23$ to 25 Average ... —2ls to 23$ 20 to 22$ Inferior ... 18 to 21 18 to 19$ BROKERS’ OFFICIAL REPORT. FIRST INVERCARGLL SALES. The first sale of the season was held in the Municipal Theatre yesterday and established two records, viz., the largest bench of buyers that have yet attended and the highest prices ever realised at a Southland sale. New Zealand offerings are now regulated by the Wool Committee in Wellington. The high prices ruling, difficulties of financing, the greatly increased aggregate value of the clip, the exchange problem, and the greater rush for the New Zealand sales, inevitably affected the capacities of buyers and bankers to readily absorb and handle the offerings. To ease the position the Wool Committee have very wisely restricted offerings at each centre, and the volume of business being spread over a longer period will allow the trade more time to absorb the year's clip. So far as Invercargill is concerned, a substantial quantity is carried over for the next sale on March 5, and buyers and brokers alike view future prospects as quite sound. The quantities available will again attract a full bench of buyers.

Opinions regarding the condition of the offerings vary greatly, but generally speaking the high country wool opened up well as was expected after such a fine open winer, so greatly different from the hard winter of 1923.

The low country wools in many lots showed the effects of a short turnip crop followed by a long dry, dusty summer. Then, again, the demands of the fat lamb buyer have had an effect on ewe flocks. A great improvement in this respect will soon be manifested. High prices for young ewes, and extreme prices for wool must result in farmers keeping more of their best ewe lambs. In years gone by Southland hoggets showing a dash of Lincoln and Border Leicester with lengthy lustrious staple, were much sought after, and buyers now greatly deplore the absence of this class of wool. The increased popularity of New Zealand sales resulting in larger offerings at each centre places a heavy strain on the buyera’ time. Gradually small lots are disappearing from catalogues, and the time has now

arrived when all lots under fl bales must b« grouped in bins. Star lote can no longer be offered To the small grower this means better nrices, his parcel receiving added competition when included in a large shipping parcel. Buyers are very satisfied with the new arrangements made for holding the sale in the Municipal Theatre, the adequate accommodation in the hotels, and generally, the excellent manner the various catalogues were displayed in the stores. There is no disguising the fact that values generally have been declining since the sensational sales held at the opening of the series. At the Dunedin sale on the 24th inst., brokers reported a drop in prices of from lid to 2ld on their preceding December sale. At' yesterday's sale buyers’ limits were further reduced by an average of 5 per cent.,