WOOL AT WELLINGTON

Taranaki Daily News, 12 January 1935, Page 19 (Supplement)

WOOL AT WELLINGTON

CROSSBREDS DISAPPOINTING. REPORT ON RECENT SALE. Reporting on the second Wellington wool sale on January 7, Dalgety and Company Limited state: The limit allowed for the sale was 28,000 bales, the total offering, after allowing for withdrawals before the auction, being 25,700 bales, out of which 21,950 bales were sold. The general character of the crossbreds offered was disappointing, super style wools being very scarce. Many clips that opened up as supers in previous years, this season lacked character, coloured and density, and in many instances carried dust. Hairy tip was also, in evidence. Since the last Wellington sale the market has not been better for a demand for crossbreds, as the southern sales catalogues are principally composed of medium to fine halfbreds. The selling season so far has been a difficult one, and although prices for crossbreds are thoroughly disappointing compared with last year’s average, it is pleasing to report that Bradford, the mainstay of North Island sales, came in solidly at Wellington and bought freely after being practically out of the market for the December rounds. The Wellington offering was a fair test, aS previous catalogues were of small compass. It was gratifying to note that competition was freer and pronounced from the start to the finish of the sale, with buying power on the benches to lift the offerings at defined limits. A heavy weight of wool has still to be disposed of. Up to December 31, 1933, about 140,000 bales had been sold by auction at November and December sales, whereas up to the same date this year only "about 75,000 bales, have been quitted. • : There are serious obstacles to negotiate, before the law of supply and demand will begin to function normally, and at the moment it certainly does not seem as if there is, or is likely to be any shortage of the raw article in the near future. It is claimed that artificial fibres flourish only when wool is bringing high prices, yet two years ago, when wool values were very low, the biggest firm of rayon manufacturers doubled its profits. This should be an indication to wool producers that artificial fibres are far from being a spent force. It was pleasing to see English buyers again well in the market, and their competition at the sale on Monday was most valuable for all types of crossbreds. They lifted a heavy weight of the offering. Japan was not much in the limelight. Japanese purchases were small, probably on account of reduced limits. Still, on certain wools Japanese competition was helpful. France was as usual interested in halfbred fleece, and the best class of bellies and pieces, and bought freely. Belgium also operated on a larger scale. Local mills secured most of the good lines of Merino and halfbred fleece and was also a keen buyer of free lambs’ wool and Merino pieces. Canada gave solid support for good spinning types of crossbreds. Growers met the market well and Dalgety and Co. Ltd. disposed of 86 per cent, of its offering at auction. Since the last Wellington sale was held other auctions have taken place at Christchurch, Timaru and Dunedin, prices, at the last-named sale showing a hardening tendency. It was found on comparing the ranges of prices that Monday’s values were well on a par with Dunedin. Compared with prices at the last Wellington sale the firm quoted as follows; Merinos and halfbreds, firm and in sellers’ favour; super style hoggets (Romney), firm and in sellers' favour; super Romney, 46/48, 48/50, id dearer; good top-making crossbreds, id to id dearer; ordinary top-making crossbreds, par, at times in sellers’ favour; bellies and pieces, good, very firm at late rates. Owing to the small offering of lambs’ Wool at the last sale a reliable comparison cannot be given, but this class of wool commanded keen competition, espc ;ially lots of good length and free from seed. The depreciation compared with last January is not pleasant to refer to, but the firm gave the following prices, the figures for January, 1935, being in parentheses: Halfbred, A, 23Jd (12jd); B, 19id (10id); A comeback, ewe, 22jd (12jd); A comeback, wether, 21d (lli'd); pieces, 18fd (9|d). Crossbred: A ewes, 13d (63d); B ewes, 10jd (sfd); A hoggets, 151 d (6|d); bellies, 9-}d (4£d); fine A ewe (super), 191 d (8d); B ewes, 16d (71d); C ewes, 13d (6id); super fine hoggets, 19d (9d); A ewes, 13id (6d); A hoggets, 154 d (7jd); necks, 15d (sd); pieces, llid (sid); bellies, 9id (4j(i); A hoggets, 16id (B.{d); B hoggets, llid (7id); fine crossbred, 16d (7id); B crossbred, lOfd (sid). The firm had in its catalogue some good halfbreds from Blenheim, the wellknown clips “Wyehills” (R. Rentoul) and i “EFH/OTI” (E. F. Healy) topping the market at 12fd and 12Ad respectively, with “Lakeview” (F. W. Hille) ll?d and llid. For crossbreds the firm made 9d for “Cinder/Hjll” hoggets (D. L. Younger) and secured top price for crossbred lambs “KJD/Pahflat” (K. J. Didsbury), 4 bales at For “Wyehills” halfbred pieces the firm secured 94d, Inter lots and binned wools sold under animated competition as usual.