NAPIER WOOL SALES

Stratford Evening Post, Volume II, Issue 424, 2 December 1933, Page 5

NAPIER WOOL SALES

I Prices the Same as Auckland j SLIGHT DECREASE NOT UNEXPECTED Press Association.— Copyright, j Napier. Dec. i. ! Prices which ware the same as at I Auckland for super grades and slightly I down for lower grades resulted at the { opening wool sale hold at Napier to-day. The slight decrease in the level which resulted was not altogether a surprise to most growers because Hawke's Bay i wool does not provide the same amourif |of fine halfbred wool but abounds in j fine medium and coarse crossbred.-.. j Prices, may be said to be 9? to 100 per I cent, better than they were a*< the March ! sale at the end of last selling season. S Compared with the rates v;iich ruled I at the December sale for tltf Hawke's j Bay district values for average to g3od ! wools show an advance of 8d to 8d on I 50/56's, 8d to 9d on 48/50, Gd to 7d on i 46/48, 31 d to 4}d on 44/46 and 3d to 4d ! on 40/44. ! From the start of the sale it was evi- ! dent the Continent would absorb a J greater proportion of the Hawke's Bay

I clip than at Auckland. Bradford was ! well represented amongst the large ! bench of 70 buyers and bid steadily on ! ail classes of wool. Buyers' rates were not so elastic as at Auckland but bidI ding was steady and maintained through- | out the sale. New Zealand mills purchased all classes of wool although they ! did not feature to any great extent in j the buying. j A feature of the bidding was the low ! starting prices, which, advanced rapidly I up to the buyers' limits, som? offering;; j starting at 6d and finishing at Is .aid over. No spectacular prices were paid I and it was evident that buyers were bidding low starting prices in the hope that they would be able to secure offerings at below market rates, but no opi portunitics were missed and where bids ! failed to realise brokers' valuations the J offerings were passed in. Only a small , percentage failed to reach the valuations, I which in many cases were exceeded. j Rises of 2 d were common on „ood types i of wools. The quality of the clip showed an imj provement in the get-up and there was ! an improvement in the quality of the i top lines, this being favourably comment- ! ed upon by several buyers. The fact | that there was less hairy wool included j was also praised. No deterioration was j noticed in the bulk of heid-over wools | and an anomaly existed in that some 1 hqld-over clips realised better prices than j new wool from the same vendors, j It is pointed out that to-day's sale j gives a better indication of the season's j realisations in the corning season than I Auckland did as the values to-day were j more steady and in the opinion of sev- ! eral represented a truer state j of the wool. A conservative estimate j of the rise on March values was S*D 10 I 95 per cent., this indicating that a return ! to normal prices will be on a mor - e steady basis. I The official range of prices is not j available to-night as the brokers do not j meet till to-morrow.