COMMERCIAL

Stratford Evening Post, Issue 39, 20 February 1929, Page 8

COMMERCIAL

WELLINGTON WOOL SALES.

WELLINGTON, Last Night

The wool sale which opened tonight proceeded according to expectations, and those' expectations were not very optimistic. It was generally understood that prices would fall, tffor that was freely spoken of prior to the sale, but no one was prepared to predict the probable decline. Everyone interested in the market knows now and The knowledge is not very cheering. “The Bradford top market is demoralised, and no business is passing except at extreme concessions.” So runs a cable mesage from London, and the state of the Bradford market is being reflected in the sale.

There was an all-round drop in values and it 4s evident that buyers have had their limits reduced since the sale held in Wellington in January. But the Wellington experience is no worse than that of Christchurch, where prices receded quite as much. There was the usual full attendance of buyers and the bidding was free, becoming very aniimalted for particular! lots. In the opinion of experts, while the condition of the wool was satisfactory, it lacked that special qualification which is defined as “style.”

Notwithstanding it (he alleged demoralisation of the Bradford! top market, Bradford representatives were very prominent in the bidding and secured fair quantities. Continental representatives wore notso prominent. Merino and halfbreds were very much neglecjted, and sales were made at comparatively low prices. This is due to the vagaries of fashion, which has 'turned from line wool fabrics in the opinion of a competent wool valuer, who had seen and valued a good deal of wool.

The drop in prices last evening may be summarised as follows; Fine crossbreds, down 2id a lb; good average crossbreds, down 2d; shabby and inferior crossbreds, down lid to 2d; lambs’ wool, down 2d lambs' wetol, dowm 2d to 3d. The result of the sale as far as it has gone is that prices are well below the January level, wi|th a very remote prospect of any improvement.

SYDNEY SALES.* SYDNEY, February 19. At the wool sales to-day 11,614 bales were sold. Competition con tinned keen in all sections and .prices were firm at late rates. Greasy merino sold at 30id per lh. loan and MERCANTILE report

(Special to “Post”) WELLINGTON, Last; Night. , The N.Z. Loan and Mercantile; Agency Co. report “the fourth wool .sale of the season commenced this eening when a. total offering of 27,300 bales was submitted of which bur catalogue comprised 3200" bales. There was a very full bench of buyers, including representatives from Bradford, the Continent, America, and Japan as well as Dominion mills, local fellmongers and scourers. Bidding at no time could be described as animated, but competition was goon, though at tubes erratic. It was apparent right from the commencement of the. sale that buyers were operating under sharply defined limits. Prices as compared With the last Wellington sal© wore about twopence lower lor crossbred, threepence to fourpence for merinos, twopence for lambs and on 0 penny to on© penny halfpenny for bellies and pieces. The wool for this sale open, ed up heavier in condition than that, for the previous sale and can he described as suitable for top making with a few lots of superior wools included/. Consequently Bradford buyers were much, larger operators than at the previous sale at this centre. Taking conditions of trade at Homo i into consideration the market is quite as good as could he expected, jtnd we are pleased to report having disposed of ninety-five per cent 61 our catalogue.

STRATFORD SALE. Th 0 Farmers’ Co-op report that a medium, yarding came forward for their Stratford sale yesterday. Aped cows made Ids, 4-th Romney rams £2 2s, store and forward cows £1 10s to £G 15s, fat (rows £7 15s to £B' ss, works bulls £5 7s 6d to £O. The N.Z. L. and M.A. Co. Ltd. report a. fair yarding, everything liemg sold uncler the hammer, hat cowa made £7 10s to £8 Us, good forward conditioned cows un to £6 12s Od. poorer sorts up to £4- 10s, bulls. £7 ’ 5s to £7 15s, springing heifers £7 10s, wearier heifers £2 10s to £4 < s Qd. TIIK ATiiLKTE 1

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