WOOL PRICES RISE

Southland Times, Issue 23141, 6 March 1937, Page 6

WOOL PRICES RISE

Third Sale At Auckland UNUSUAL IN MANY RESPECTS SPIRITED COMPETITION THROUGHOUT (Special to The Times.) AUCKLAND, March 5. After slight declines in the wool market at recent southern sales, values more than recovered at the final auction in Auckland for the 1936-37 season which was held in the Town Hall. It was a sale of spirited competition with a keen general demand for all classes of wool, and prices rose again to reach an estimated average of over 15d a lb or approximately £23 a bale. On these figures. the final sale of the season in Auckland should yield wool growers in the province something over £500,000. The sale was unusual in many respects. For one thing there was an unusually large proportion of lambs’ wool. One authority, estimated that there were about 6000 bales of this class of wool in a total catalogue of 22,252 bales, and this figure probably constituted a record ,for an Auckland sale. The predominance of lambs’ wool on this occasion is due to the late shearing, but there was animated competition. for wool of this class with values frequently above expectations. Another feature was that the January rates were achieved, and in many instances exceeded, for wool which was generally of poorer condition. Few Choice Clips

Choice clips from coastal stations and the islands of Hauraki Gulf hardly figured at all in the catalogues and the top price of lOjd was realized by 11 bales of scoured crossbred wool, graded Fine AA, and grown by the Native Department at Rotorua. This lot was bought by Francis Willey and Son, Limited.

From comments at the sale it appeared that Bradford was mainly responsible for the active tone of the market. Representatives of the great Yorkshire houses made a determined, and apparently successful, effort to secure good top making sorts and, as a result of their bidding, the rates for crossbred rose by at least Id a lb on those realized at the January sale. One authority stated that Bradford had dominated the market for top-making sorts and the Continent for lambs’ wool, while Japan had manifested an interest in the finer classes, although not to the same extent as in the early part of the season. “Bradford delayed buying at the start of the season,” he added, “and to some extent has ‘missed the bus.’ The Yorkshire houses are. now in the position of having to pay higher prices for a poorer class of wool.” The sale resulted in practically a complete clearance under the hammer. Passings were few and far between and, in the majority of instances where lots were passed, sales were subsequently arranged by negotiation. There is ample evidence that Auckland wool growers this season have not been persuaded to look a gift horse in the mouth. They have taken the wise course of meeting the market, with the result that wool stores will be virtually empty in the very near future. The auction started at eight o’clock in the morning and, after a few minutes of tentative bidding, buyers soon sensed the tone of the market. Thereafter the sale proceeded at a brisk pace. Often there were as many as 10 or 12 buyers on their feet at a time, each using his own individual technique of strident voice, waving arms and of ferocious grimace to catch the eye of the auctioneer. One French buyer was amazingly active and, on occasions, when he was out-bid for a lot in which he was particularly interested, he would hurl strange Gaellic maledictions at the inoffensive auctioneer. “A Great Finish” For the majority of sheep farmers in the province the sale set the final seal of success on one of the best seasons on record. “We hoped that prices might be at least firm on the Wanganui rates,” one farmer said, “but it seems to me that they have advanced by about Id to 2d a lb. It is. a great finish to a great season. High prices have come just at the right moment to save us from the full impact of rising costs.” Another farmer mentioned that he had set a fairly high value on his fine crossbred in January, with the result that it had been passed in at 16d. Subsequently he had been inclined to think that he had been a little too ambitious, but the wool sold yesterday at 16fd and he had reaped the benefit accordingly. The sale marks the close of the wool season as far as Auckland is concerned, although there will be further sales in the South Island and in other North Island centres. Local wool brokers and other experts suggested that there was every possibility of the latest Auckland rates being maintained until the end of the season.

Range of Prices

The following is a range of >- Southdown A 16 to 171 Southdown B 14 to 15J Halfbred, 5O’s/56’sSuper 18 to 19 Average 161 to 16 Inferior 15 to 16 Extra fine crossbred, 48’s/50’ to 174 Super Average 15 to 16 Inferior 14 to JL5 Fine crossbred, 46’s/48’s — 17 to 18 Super Average 151 to 164 Inferior 14| to 154 Medium crossbred, 44’s/46’sSuper 16 to 17 Average 15J t° 16 Inferior 14 to 15 Coarse crossbred, 4O’s/44’s — 151 to 161 Super Average 141 to 151 Inferior 13j to 141 Strong crossbred, 36’s—4O’s~ 161 to 18 Super Average 15 to 161 Inferior 14 to 143 Hoggets— 52’s/56’s— 17 to 191 5O’s/56’s— 17 to 19 48’s/50’s— 16 to 18 46’s/48’s— 15 to 17 Lambs Down— 153 to 18 Crossbred Fine 14 to 17 Medium 13 to 16 Seedy and Inferior 6 to 10 Bellies and Pieces— Crossbred, low to medium 9 to 11$ Crutchings— 13 to 153 Medium to good Inferior to seedy 9 to 124 Locks, crossbred— 8 to ?