RISE OF NEARLY ID IN PRICE

Southland Times, Issue 23677, 28 November 1938, Page 6

RISE OF NEARLY ID IN PRICE

Bright Opening To Season CROSSBRED IN KEEN DEMAND BRADFORD AND CONTINENT DOMINATE SALES (United Press Association) AUCKLAND, November 27. With the average prices nearly Id per lb above those ruling at the first auction last November, the opening wool sale of the 1938-39 selling season held in Auckland on Saturday was generally regarded as highly satisfactory. Crossbred wools were sought with avidity by a determined group of Bradford and Continental buyers. No official figure for the average price realized for the whole offering is available, but a reasonably conservative estimate placed it at approximately lOd per lb. This means an average return to the grower of approximately £l4 a bale and a first wool cheque of something more than £325,000 for the province. Comparative figures for the first sale last season were: An average of 9.37 pence per lb, £l3 10/7 a bale, and a total value of £201,700. The increased yield this year of much more than £120,000 will be most welcome by growers, many of whom stated on Saturday that, on a basis of existing costs, last year’s prices were definitely uneconomic. The top price on Saturday was 15d for two lots of halfbred wool from Waiheke Island. This wool almost invariably brings top price at the Auckland sales, and last year it was passed at 17d. A drop of at least 2d was a fair measure of the price offered for finer wools, and the competition from local mills for this particular class of staple did not appear to be as keen as in some recent years. There was almost a total clearance of the 24,241 bales. Sales were dominated by Bradford and the Continent, French and German buyers being particularly active. Only two Japanese buyers were present and their operations were obscure. Bidding all round was exceptionally keen. OFFICIAL REPORT The official report on the wool sale states that the first Auckland wool sale of the season opened with an offering of 24,000 bales. The wool opened up in good average condition, and prices for most lines showed an improvement bn the rates ruling at the first sale last November. Competition was very keen, with France and Germany actively engaged. It was difficult to determine whether there was any Japanese competition. Excellent clearances were effected, fully 96 per cent, being sold under the hammer. The range of prices was as follows:

The following table compares results at the opening Auckland sales for the past 10 years:— ' Average a Average

The figures for Saturday’s sale are only approximate. The first sale of the 1936-37 season provided a sensational start, for prices rose fully 60 per cent, on the average value of the previous year. In sharp contrast was the opening last year, when values dropped by 40 per cent, and only about a third of the catalogue was sold. Lots sold later by private treaty brought the final clearance to about 58 per cent., against 98 per cent, in the previous year. KEEN LONDON DEMAND FOR MERINOS LONDON, November 25. At the wool sales 7003 bales were offered, including 1584 from New Zealand, and 6180 were sold. There was a good selection, chiefly of Merinos, which met with a keen demand. Slipes sold at recent levels but greasy crossbreds were often in buyers’ favour.

Nov. 1938. Nov. 1937. Southdown A 9} to 10} 11 to 12 Southdown B 8} to 9} 93 to 10} Halfbred, 56’s-58’s— Extra super 14 to 15 15 to 16 Super — to 13 14 to 15 Average 12 to 12} 13 to 14} Halfbred, 5O’s-56’s— JSuper 12} to 13 13 to 14 Average 11 to lie11} to 124 inferior 9 to 10 10 to 11 Extra fine crossbred, 48’s-50’s— Super 11 to 12 11 to 12 Average 10} to 11 10} to 11 Inferior 9 to 10 9 to 10 Fine crossbred, 46’s-48’s— Super 10} to 11} 10} to 103 Average 10 to 10} 9} to 10 Inferior 8} to 9} 8 to 9} Medium crossbred, 44’s-46’s-Super 10} to 11 10 to 10} Average 9} to 10} 9 to 93 Inferior 9 to 9} 8 to 9 Coarse crossbred, 4O’s-44’s— Super 10} to 11 10 to 10} Average 9} to 10} 9} to 93 Inferior 9 to 9} 8} to 9 Strong crossbred, 36’s-40’s— Super 10} to 10} 10 to 10} Average 9} to 10 9} to 93 Inferior 9 to 9} 8} to 9 Hoggets— 52/56 11} to 12 11 to 12} 50/56 11} to 12 10 to 11 48/50 10} to 11} 9} to 10} 46/48 9} to 11 9} to 10} Lambs down— t ' M MM Im M M. M LriUobUlcU Hilt; — Medium - Seedy and inferior Bellies and pieces— Crossbred, good to super 7} to f}} 7} to 8} Low to medium 6} to 7} 6 to 7} Halfbred— Bellies and pieces 9} to 10 8 to 9} Crutchings— Medium to good 7 to 8 7 to 9 Inferior to seedy 4} to 6 5 to 6} Locks— Crossbred 4}, to 4} 4} to 53- -

bale per lb. d Value £ £ s d 1928 22 11 0 15.64 496,000 1929 15 9 2 10.95 238,125 1930 6 13 2 4.67 100,759 1931 7 5 10 5.06 103,131 1932 3 12 3 3.68 132,118 1933 13 8 ’2 9.7 327,694 1934 7 16 2‘,4 5.628 88,250 1935 12 2 0 8.27 240,154 1936 20 10 6 14.225 439,270 1937 13 10 7 9.37 201,700 1938 14 0 0 10 325,000