WOOL SALES

Timaru Herald, Volume XCVIII, Issue 170140, 17 February 1921, Page 7

WOOL SALES

THE LONDON SALES. By Electric Telegraph—Copyright. Australian and N.Z,. Ca'olo ossociaiion LONDON', Feb. Jo. The Wool Realisation Association is now generally called “Bawra.” A full meeting of tho Colonial Wool Merchants’ Association unanimously adopted the sub-committee’s proposals, cabled on February lltli, except that late arrivals, ex the Ayrshire, Surrey, and City of Edinburgh, aggregating 7085 bales, aro not included. Strong feeling existed that it would be unfair to sell Jfawra wool in Enp-land only, and coniine the Australian sales to free wool. It was also contended that in any scheme to regulate the proportion ottering- of llawra and free wools in future London saics, account must bo taken of sales of Bawra wools at Liverpool, Hull, Antwerp, and elsewhere. [The cable referred to was as follows: There will he 120,000 bales of Government ;>pd free wool offered at the sales commencing on February 22nd. A subcommittee of the "Wool Merchants’ Association has arranged that all free arrivals till February 11th will be available, and reoommeuded adherence to valuations based on the closing prices in January. The association will consider the proposal on February 15th.] CHRISTCHURCH PRICES LOWER. Per Press Association. CHRISTCHURCH, Feb. 16. There was another big offering at the fourth wool 6ale of the season. In tho early stages competition was frequently dull, though the buyers’ benches were full. The offering totalled 20,693 hales. Up to noon the indications, were as follow’: —Medium and inferior linlfbreds Id to ltd lower than at the January sale; crossbreds Id lower: threequarterbreds from par to 2d lower, best halfbreds and best threequaxterbred pieces a shade better; second pieces from par to id lower; medium merinos lower. The highest prices realised were 14|d for four bales or halfbred. • The fourth Christchurch wool sale commenced this, morning. The offering was 21,784 bales, compared ; with 20,693 at the last sale a month ago, but up to the adjournment to-night at eleven o’clock,, half of the lots offered were passed in. The range of prices so far as the sale has progressed is:—Super merino 14d to 20d, medium 12d to 14d, super halfbred 14d to 16id, medium 9id to 13d, inferior 8d to. 9}d, super threequarterbred 9d to lid, medium 7d to 8-M, inferior 4d to 6£d; super cross bred' 7d to lOd, medium 5d to 7d. inferior 3d to sd: best halfbred pieces 9d to 12£d, medium 5d to Bd, crossbred pieces 3Jd to 6d; locks 2d to 4d. There was a full bench of buyers, and competition was keen for all good lines, merino especially meeting with keen competition from Continental buyers and local mills. Best lialfbrcds jvero keenly sought after, as also were good light crossbreds, tut wasty and inferior wools met very little animation. Bidding was most, irregular nIL through the sale, especially for inferior crossbred. Taken all round the sale indicates a firm market for wellgrown merino and halfbreds, with a falling tendency of from Id to 2d on all inferior lines. The sale will he continued to-inorrQW. (Special to tho “Herald.”) At the- fourth wool sale of the season, which commenced this morning, there was an offering of over 20,000 bales. There was a full bench of buyers, and at least one operator directly representing French houses. Competition.was distinctly weaker than at the previous sale. The American demand is falling away considerably. Consequently. bright fine wools, which were deeply sought after at the earlier sale, fell away in a particularly marked manner. Pieces of better classes were fairly keenly sought after by both Dominion mills and for the Continent. Crossbreds were very dull of sale, ancl though brokers had digested tlioir value in view of the weaker tendency of the recent Northern sales, a fair quantity of wool, was passed at the auction. Competition was never animated, and the sale was at times irregular. Up to the afternoon the market was lower for threequarterbreds by -Id to 2d, this class suffering most. "Medium and good halfbreds were about pi per lb lower, but super lots were practically on a par with the last sale, although they met with a dragging and erratic sale. Crossbred pieces were lower in sympathy with fleece wool. Ha I Hired pieces showed practically no change, being firm at the sale. Merinos were easier. A line of super first combings, hogget wool, from Menclipp Hills, was passed in at 201 d, the lest wool from this estato being either passed in or withdrawn. Inquiry from France was mainly for bellies and pieces- The. quality of the wool was generally up to the standard of sales hold in February, but was not the quality represented in the super linos, as ac earlier sales.