THE WOOL MARKET

Southland Times, Issue 19492, 5 March 1925, Page 6

THE WOOL MARKET

INVERCARGILL SALE LAST NIGHT’S AUCTION PRICES SHOW A DECLINE Considering the somewhat . unsettled nature of the wool market at Home, it was but natural that the second wool sale of the season to be held in Invercargill should, in common with the recent sales held in northern centres, show a falling tendency. Therefore, it was but natural that last night’s sale, which was held in the Municipal Theatre, should prove no exception to this rule, and though the prices realised were on the whole lower than those obtaining at the previous sale held in January, yet they compared quite as favourably, especially in the lower and medium grades of wool, with those obtained at the Christchurch sales last Friday. Taken as a whole the values obtained were from a l|d to lid per lb lower than the January rates secured at Invercargill, but, then it has also to be taken into consideration that the quality of the wool offered on this occasion is slightly inferior, being heavier and more greasy, with a corresponding alteration in value from the buyer’s standpoint. OPERATIONS OF THE BUYERS. A great deal of interest was evinced in the sale by the general public and the dress circle of the Theatre was for the greater portion of the evening crowded with spectators who, however, were disappointed if they expected to witness any exciting interludes, as the sale was devoid of such, and moved along quietly with but an occasional outbreak of spirited bidding from the occupants of the benches. The attendance of buyers at • this sale was fairly large and was representative of the Bradford, Continental and American markets, while the operators for Dominion and local firms were present in strong force. The bidding during the earlier portion of the sale was fairly brisk, but as the auction proceeded to its close it lagged somewhat, and the overseas men were content in the majority of cases, to allow the local representatives to take the lots offering. The Bradford buyers operated fairly extensively and they secured the major portion of the higher grade wools, while the Continental representatives also made their presence felt when wools suitable for their requirements were under offer. American competition was almost silent, and hardly a line was sought for that market. The representatives of the local firms operated fairly extensively and a fair proportion of the wools suitable for scouring, etc., passed into their hands. SETTLING DAY. Prior to the commencement of the sale, Mr R. A. Anderson, on behalf of the brokers, mentioned that the “prompt” date fell due on March 18, but if the waterside strike should extend beyond that date the brokers had agreed to extend the “prompt date” until a vessel could be dispatched from the Bluff.

The sale was commenced promptly at 8 p.m. and was carried through with the utmost despatch by the auctioneers, with the result that the proceedings terminated shortly before 11.30 p.m. —contrary to the expectations of a great many. THE CATALOGUE. The offerings on this occasion were greatly in excess of those for the corresponding sale of last year, but then it has ; to be borne in mind that a fairly large | quantity of wool was carried over from the I January sale. The total number of bales ; offered for ‘the -season, however, when com--1 pared with last year shows a slight increase. It is anticipated that about 70 per cent, of last night’s offerings were disposed of under the hammer, while the remaining portion was passed in. The values obtained for the different classes of wool fluctuated considerably, and do not permit of anything like a fair comparison being made with the i Christchurch sale last week, though it is agreed that they compare favourably, especially in the low and medium wools which were firmer and were dearer, in many cases up to a Ad per lb more in the wool than those at Christchurch. Halfbreds crossbreds and fine hogget wools, however, commanded the keenest competition of the sale, and some fairly satisfactory prices were secured. The top price of the sale was secured by Messrs Dalgety and Co. for three bales 'of halfbred wool at 26d, while Messrs Wright, Stephenson and Co., obtained 254 d for ten bales of re-classed super halfbred. The order of the sale and the offerings of the various mercantile firms were as follows:—• Bales. J. G. Ward and Co 262 J. R. Mills and Son 247 Henderson and Co 109 Dalgety and Co 1278 National Mortgage & Agency’ Co 1635 J. E. Watson and Co 384 N.Z. Loan & Mercantile Agency Company 393 Southland Farmers’ Co-op .. .. 1909 Wright, Stephenson & Co. . . 2698 Total 8915 THE HIGHEST PRICES. Some of the highest prices obtained were as follows:—J. G. Ward and Co. X.B.H. fine, (8 bales) 21d; Halfbred (3—bales), 21fd. J. R. Mills and Sons halfbred (2 bales) 21]d; halfbred tine (2 bales) 21^d; fine crossbred (6 bales) 20d. Henderson and Co., threequarterbred hogget (re-class-ed, 3 bales) 2 lid. Dalgety and Co., fine hogget (re-classed, 8 bales) 20d; crossbred hogget (8 bales) 22£d; halfbred ewe (4 bales) 23|d; three-quarterbred hogget (3 bales) 23|d, half bred (3 bales) 26d. National Mortgage and Agency Co., threequarterbred ewe (5 bales) first Romney ewe (8 bales) 204 d; crossbred ewe (7 bales) 20£d; first halfbred ewe (6 bales) 24d; crossbred lambs 22Ad; Merino (1 bale) 22jd. J. E. Watson and Co. halfbred ewe (5 bales) 20Ad, halfbred, bellies (4 bales) 1 204 d. N.Z. Loan and Mercantile Agency Co., half bred ewe (re-classed, 5 bales) 22|d; fine crossbred hogget (4 bales) 2(Hd; quar- ■ terbred (re-classed, 2 bales) 22|d. Southland Farmers’ Co-op:—Half bred ewe (5 bales) 23|d; three-quarter bred ewe (6 bales) 21d; first hogget (7 bales) 20Jd; halfbred hogget (3 bales) 23d. Wright, Stephenson and Co. —Halfbred ewe (6 bales) 22d; fine crossbred (7 bales) 20d; crossbred ewe (7 bales) 23d; super halfbred (10 bales) Merino (re-classed, 1 bale) 23|d. RANGE OF PRICES.

The following table shows the advance in prices when compared with, the March

The next sale is to be held in Dunedin on March 9, after which sales will take place in turn at 15maru, Napier, Wanganui, Auckland and Wellington, after winch the majority of the overseas buyers will return home. __

sale, 1924:— 1924. 1925. Merino— d. d. Medium to 27 22 to 232 Halfbred— Super Nil. to 28 Medium.. .. .. 25} to 27i up to 24 Inferior 20 to 244 up to 21$ Three-quarterbred— Super Nil. 20 to 21} Medium 195 to 22 18 to 20 Inferior 18| to 16 to 17} Fine Crossbred — Super — 21} to 22} Medium — 20 to 22 Medium Crossbred — Super 20 to 244 20} to 21} Medium 17 to 19 J 18 to 19} Inferior 14 to 16$ 14 to 16 Coarse Crossbred — Super 18 to 19J 18 to 19 Medium 15i to 17J 17 to 18 Inferior.. .. 13 to 14 13 to 15

Crossbred Hoggeta— Super 21 to 23 Medium 19J to 21 181 to 20} Inferior 15| to 18? 16 to 17 J Crossbred Wether— Super — to 22 Medium — 181 to 211 Pieces— Halfbred 211 to 22J to 181 1st Crossbred . . 191 to 201 141 to 16 2nd Crossbred . . 144 to 18$ 13 toll Inferior 111 to 121 9 to 12 Bellies— Halfbred — — 1st Crossbred .. 16 to 18 13 to 141 2nd Crossbred .. 14 to 15$ 12 to 13 Inferior Hi to 131 8 to 10 Crutchings— 1st Crossbred .. 12 to 13j 9 to 101 2nd Crossbred .. 91 to 11 6 to 8 Locks 8J to 12 6 to 9 Necks— Crossbred, firsts — to 161 Crossbred, seconds — 13 to 15