PRICE OF WOOL HIGHER

Southland Times, Issue 23389, 22 December 1937, Page 6

PRICE OF WOOL

HIGHER

Rise At Dunedin’s

First Sale

BRADFORD BUYERS SET THE PACE

JAPAN REMAINS OUT OF THE MARKET

(Special to The Times) DUNEDIN, December 21.

The sixth wool sale of the New Zealand series held in Dunedin today was characterized by the best price level attained at a Dominion auction this season. The average price was about 13d a lb or £l7 a bale and the gross cheque payable to growers in the province should exceed £400,000. The average price for the four Dunedin auctions last year was 16.94 d a lb or £3 a bale, the total gross proceeds of the first sale of the year being about £600,000 for approximately 30,000 bales.

The clip had plenty of lustre and was free from breaks. Some of the wool that had been subjected to heavy rains from the last shearing until about the middle of the growing season, showed slightly thin but in the main the wool was well grown and sound in staple. Bradford operators worked hard and set a pace which many of their rivals were loath to follow. The chief opposition with which Yorkshire had to contend came from local mills who bid strongly for anything that suited their requirements. New Zealand manufacturers paid high prices for what they wanted, but one of the dominating factors of the market was the insistence of Bradford. It was estimated that Bradford took more than 25 per cent, of today’s catalogues. France was a buyer, but her operators were not buying as freely as usual and German operators bid very carefully and within obviously restricted limits. United States was in the market for small orders, but was far from an important factor in the day’s bidding. Italy and Belgium did not support the market to any appreciable extent and Japanese competition was non-existent. The higher proportion of fine wools catalogued today greatly assisted the average. One of the most satisfactory features of the sale was the manner in which growers met the market. Passings did not amount to more than five per cent, of the offering and they would have been greatly reduced if some growers had not placed too high a reserve on their lines. It is possible that many wool growers are gambling on a sudden re-entry into the market of Japanese operators. MARKET CLOSES FIRM Today’s market closed firm, but on certain lines there was a weaker tendency than was displayed in the opening stages of the auction. The Dunedin Stock Agents’ and Wool Brokers’ Association, in its official report, states that at the first sale of the season held today 24,000 bales were offered, of which approximately 95 per cent, were sold. There was a full bench of buyers in attendance, representing the principal consuming countries of the world. Competition was exceptionally keen, the Continent and Bradford operating freely. Local mills were a strong factor in the market and bought most of the wools suitable for their trade. Bradford buyers were more prominent today than at any previous sale held in the Dominion this year. Canada was also in the market for superfine halfbred. The selection generally was a good one, especially wools from the coastal, Tapanui and Roxburgh districts. However, some back-country clips showed an excess of dust and some early seed through the prolonged dry weather. The halfbreds offering were slightly more attractive than, those offered at the December sale last year and were slightly lighter in condition and generally sound and of good length. There was little difference in the condition of the Merinos.

The catalogue for crossbreds contained a big percentage of hogget wools which, through the season being particularly wet in the early part of the spring and also because of lack of feed were a little thin in fibre and in some cases showed weakness. The ewe wool, although a little lighter in condition, was fairly bulky and showed good colour as compared with previous sales.

Taking into consideration the lighter condition of the wool the market can be quoted firmer by Jd. One lot of extra super combing halfbred ewe and wether brought 2213, which is the top price for the Dominion sales. Tlie following is the official range of prices:— d. d.

PROCEEDS FROM SALE AT AUCKLAND AUCKLAND, December 21. The proceeds of the first Auckland wool sale of the current season held on

November 27 totalled £201,700, according to official figures issued by the Auckland Woolbrokers’ Association. This is less than half the total of £439,270 distributed after the first sale last season, and is also slightly less than the cheque of £240,154 received from the opening fixture of the 193536 season.

A total of 25,292 bales was offered at the sale and 14,920 were sold. The average price was £l3 10/7 a bale and 9.37 d per lb.

Merino — Super Average Inferior 15J to 181 13J to 143 111 to 123 Fine halfbreds, 56’s-58’s— Extra super 18 to 221 Super 16 to 171 Average 141 to 151 Inferior 13 to 14 Medium halfbreds, 5O’s-56’s— Extra super 151 to 163 Super 14 to 15 Average 123 to 133 Inferior 111 to 12 Coarse halfbreds, 48’s-50’s-Extra super 145 to 153 Super 125 to 14 Average 113 to 121 Inferior 10 to 111 Fine crossbreds, 46’s-48’s— Extra super 131 to 141 Super 12 to 135 Average 11 to 113 , Inferior 10 to 103 Medium crossbreds, 44’s-46’s— Extra super 125 to 123 ■ Super 11 to 12 Average — to 103 Merino necks and piecesSuper — to 151 Low to medium 10 to 133 Halfbred necks and pieces— Super 14 to 15.1 Good to super 11 to 131 Low to medium 91 to 103 Crossbred necks and pieces— Super — to 12 Average 9 to 10 Inferior , 71 to 81 Halfbred crutchings— Medium to good 9 to 103 Inferior 7 to 8 Crossbred crutchings— Medium to good 8 to 101 Inferior 5 to 71 Halfbred locks— Medium to good 51 to 63 Crossbred locks— Medium to good 4 to 6