DISAPPOINTING SALE

Taranaki Daily News, 28 November 1934, Page 7

DISAPPOINTING SALE

AUCKLAND WOOL PRICES PASSINGS MORE THAN ONE-THIRD. RETURN TO GROWERS MUCH LESS. COMPARISON WITH LAST MARCH. By Telegraph—Press Association. Auckland, Last Night. At the first wool sale of the season to-day it was estimated that probably the general average over the whole sale would be between 6d and 6£d a pound, or an average per bale of from £9 to £9 7s 6d. On this basis Auckland growers will receive about £90,000 from the proceeds of to-day’s sale. Last November's realisation was £327,000.

The word “passed” came from the woolbroker’s lips with monotonous reiteration as he offered the first of New Zealand’s wool clip to about 60 buyers representative of every important consuming country. The buyers were there, and there was plenty of good wool. The only obstacle to satisfactory business was the question of price, and this proved well-nigh insuperable. Auckland brokers had fixed their valuations on the present London parity, but farmers could not forget last year’s handsome returns and they put their reserves well in advance of the brokers’ figures, trusting to luck that a last-minute change in the market might favour them. Where the buyers stood in the question of valuation was unknown, but it soon became clear that their limits were not only below the farmers’ reserves, but in many instances below the brokers’ valuations. It could be seen that a number of buyers were simply not interested. Bids came slowly, and some lots attracted no bid at all. Howevei 1 , as the sale proceeded there was rather more life in the bidding, and occasionally even some keen competition for particular lots. Buyers had no fault to find with the quality and presentation of the clip. The Japanese buying was chiefly of finer grades, crossbreds and hoggets. “WORST OF A DECADE.” Summarising the sale, it may be described as the worst in a decade, that is, when the high percentage of passings is considered, although from the point of view of values the range is still higher than in March of last year, when rock bottom was reached at £5 3s 2d a bale. It seems, however, that Auckland growers will have to revise their ideas of values and recognise the handsome returns of last season as merely a pleasant interlude or windfall that may not be repeated. The total of 17,791 bales offered was decidedly smaller than the average at this sale in previous years. Many farmers elected to hold their wool over until the second sale, the prevailing opinion being that'Germany would be a stronger competitor later in the season. The top price of 15d a pound was paid for five bales of half bred from Waiheke Island. The presence of German and Japanese representatives in the market did not lead to any great competition from these sources. Passings are estimated at 40 per cent. The following report on the sale has been issued by the Auckland Woolbrokers’ Association: —

The New Zealand wool-selling season opened with the Auckland sale. The offering totalled 17,638 bales, and there was a full bench of buyers representative of all the wool-consuming countries. German buyers operated very carefully within restricted limits, France competed keenly for skirtings, while Japan took fine crossbreds. Bradford was the largest buyer, with limits up to London parity. Bidding was irregular and slow for the most part, with occasional animation. Prices showed a marked decline from those realised at the Auckland sale held in March last, and about 42 per cent, of the offering was passed in. One specialty line of five bales of super halfbred brought 15d, and five bales of halfbred from the same clip realised 13d. The range of prices was as follows, March, 1934, prices being shown also for purposes of comparison:— Nov. 1934 Meh. 1934

Corriedale — Pence lb. Pence lb. Super to 11} — Average 8J to 10} — Southdown— Average 8J to 10! 131 to 15} Medium halfbred (56’s)— Average 9 to 10 14 to 16 Inferior 6 J to 8} 11} to 13} Coarse halfbred (50’s) — Super 8 to 8} —• Average 7 to 75 — Inferior 6 to 6} — Extra fine crossbred (48/50) — Super Average 74 to 8J 6 to 7J 11} to 12} Inferior 44 to 52 8} to 10} Fine crossbred (46/48) — Super 62 to 71 — Average 52 to 61 9} to 11} Inferior 4} to 5 7} to 9} Medium crossbred (44/46)— Super 6 to 64 — Average 5 to 5} 7} to 8 Inferior 3 to 4 5 to 7 Coarse crossbred (■ 40/44)— Super 5 to 54 Average 4 to 42 6} to 11 Inferior 3 to 3} 4} to 6 Low crossbred (36/40)— Average 4 to 5 5 to 6} Hoggets— Extra super halfbred 14 to 16} 12 to 14 — Fine 8A to 9 9 to 11} Medium 7 to 84 7 to/10 Coarse 51 to 6} 5 tp 7} Lambs— Down 12 to 15} ■—• Fine, 46/50 64 to 81 8 to 12} Medium, 44/46 .. 7 to 10 — Seedy & inferior 3J to 5J 6 to 8 Bellies and pieces, crossbred— Good to super .. . 4} to 54 5 to 11 Low to medium 3 to 4 3 to 4} Crutchings— Medium to good 4 to 5 5 to 6} Inferior to seedy 3 to 3} 3} to 4} Locks — Crossbred 2 to 21 3 to 4