WOOL FIRMNESS

Taranaki Daily News, 16 January 1934, Page 7

WOOL FIRMNESS

STEADINESS AT AUCKLAND RECENT LEVELS MAINTAINED BUOYANCY OF THE MARKET COMPETITION WIDESPREAD EVEN OLD WOOL IN DEMAND By Telegraph—Press Association. Auckland, Last Night. Clear indication of the buoyancy of the wool market w§s provided at the second Auckland sale in the town hall. The upward trend of prices which characterised recent sales was largely arrested,. but levels, which were generally firm at the values established at Wellington a few days before, were from 25 to 30 per cent, better than those which ruled at the opening sale at Auckland in November. There was a steady demand from the full bench of buyers, with occasional periods of brisk bidding. The general tone appeared to indicate that the era of double-figure prices ushered in by the first sale at Auckland was firmly founded. - j . The catalogue comprised 25,206 bales, and there was a practically total clearance; in the case of one of the larger catalogues the passings amounted to only one per cent. Buyers spread their demand over all classes of wool, with the result that while there were minor fluctuations on latest Wellington rates there was at no time any quotable alteration. Coarser types of crossbred were inclined to be erratic at times, and in some instances prices were a shade easier than the corresponding values at Wellington. Preliminary estimates place the average price per lb. at approximately 12Jd. On this basis the price per bale would be about £lB ss. twenty-five pence privately. Top price was paid for a line from Messrs. Zimmerman Bros., Rangiriri, four bales of Southdown fleece bringing 24fd. a lb. The sensation of the day was the passing in of the Wait! clips (G. Gray, Cowe’s Bay, Waiheke) at 25d. The line comprised 25 bales of fine halfbred and was passed to the bid of Murray Roberts and Co., Ltd., which firm, it was reported, secured it privately at the figure offered. Germany was the outstanding individual competitor, and with Japan was responsible for most of the inquiry for fleece wools. Bradford operators, however, came into the market much more prominently than they did at previous sales in the Dominion this season and secured a fair proportion of the offering. French interests were the quietest, but, as is usual with them, they paid particular attention to lambs’ wool and piece lots. Twenty-five thousand bales were offered, but the quality was described by buyers as not nearly so good as that of the wool offered at Auckland’s ‘November sale, nor as good as the wool of similar class offered at the recent Wellington sale. Chief criticism was of faulty classing. A large proportion of the offering came from small farms and was submitted unclassed. In addition, the clip as a whole is heavier in yolk than in November. Among the top prices in the first catalogues were Southdown 23Jd, Corriedale 24d, fine crossbred hogget 20|d. “DEPRESSION LEFT BEHIND.” Auckland wool growers chuckled with delight as the keen bidding of excited buyers indicated that for them the depression has been left behind. An imposing bench of 60 buyers was faced by the auctioneer of the first catalogue, which started at 8 o’clock. The first lot offered was seven bales of crossbred ewe fleece, which a year ago might have brought 4d. To-day it sold for lljd. The opening sale of the season returned growers £329,694. To-day’s sale may yield over £400,000, so that with a third sale still to come the season’s cheque should come fairly close to the total of a boom year. Details of prices realised to-day for grouped lots, compared with the figures for the corresponding lots in November, are:—Medium crossbred 13 Jd (Hid), A crossbred 10id (Id), B crossbred 10id (6Jd), halfbred hogget 20id (15id), A fine crossbred hogget 20d (13|d), coarse ditto 13Jd (lOd), A Southdown 25? d (22Jd), B Southdown 22{d (143 d halfbred 18Jd to 22Jd (14Jd to 18d). A leading broker said a notable feature to-day was the wonderful demand for coarser and rather rough to average wools. These were virtually unsaleable a year ago, but to-day met with keen and widespread demand at good, payable prices. It was noticed also to-day that held-over wools sold satisfactorily. For example, the following prices were realised for a clip several years old: Fine crossbred 15id, medium crossbred 131 d, coarse crossbred 12d, medium B crossbreds 13d, coarse B crossbreds lOd, medium hogget 15d, first pieces lOd, bellies 9d, first lambs 16>d, second lambs IOAd. The range of values at pence a lb., with a comparison with last January’s,

is:— 1934. 1933. Super fine halfbred— 56/58 Up to 25 Up to 121 Medium halfbred, 50/56— Super Up to 21 10 to 11 . Average 191 to 20| 9 to 91 Inferior 17J to 19 7 to 9 Extra fine crossbred, 48/50 — Super 18 to 20J 81 to 91 Average 161 to 17J 8 to 81 Inferior 14 to 164 6 to 7f Fine crossbred, 46/48 — Super 15 to 16J 7 to H Average 13J to 15 6 to 7 Inferior ........ 111 to 13j 4 to 5 Medium crossbred, 44/46 — Super 13 to 15 51 to 61 Average 114 to 121 41 to 51 Inferior .. 8 to 11 3 to 4.1 Coarse crossbred, 40/44— Super 111 to 12 4 to 41 Average 10 to 11 31 to 4 Inferior 61 to 91 2 to 31 Low crossbred, 36/50— Super 10 to 11 — Average 81 to 91 3 to 3J Inferior 61 to 81 2 to 3 Hoggets— Extra super halfbred 20 to 211 — Half bred ....... 16J to 20 8 to 101 Fine 14 to 17 6 to 81 Medium 11 to 14 5 to 61 Coarse 91 to 12 31 to 41 Lambs— Down 14 to 14f — Fine, 46/50 121 to 161 6 to 7| Medium, 44/46 . 11 to 12 3 to 5 Seedy & inferior 51 to 12 1 to 5 Bellies and Pieces. Crossbred— Good to super 91 to 14 3 to 41 Low to medium 61 to 9 2 to 3 Halfbred 161 to 191 — Crutchings— Medium to good 61 to 81 21 to 34 Inferior to seedy 5 to 6j 1} to 21 Locks— Crossbred ...... 6 to 6j 1 to 14