THE WOOL SALE.

Timaru Herald, Volume CXXIII, 17 December 1925, Page 6

THE WOOL SALE.

Bidding Keen and Spirited.

SALE EXCEEDS ANTICIPATIONS. The iii’s t wool sale of the season for South Canterbury was held in Tiniiirii yesterday, and it may be said to nave been a good saic, though prices were not so high as those winch ruled last year. Tlie top price yesterday was 22 pence, which was obtained for Mr.F. H. Smith’s “Waratah” extra super merino. Last year the sales were held in the Caroline Bay Hall, but it was iound that there was insufiicient room there, and this year saw a return to the former selling iiiace —the Theatre Royal. There was an alteration in the stage arrangements this year, the buyers’ benches being erected in semicircular torm facing the auditorium, while the auctioneers’ rostrum was erected in front of tne tiers of buyers’ benches, and as each buyer’s seat was clearly labelled with the name of his firm, in red letters, there was no room for disputes in “picking up” the bids. More accommodation that usual had to be provided for the buyers by reason of tlie larger number present. Perhaps there were not so uia ny onlookers at this year’s sale as usual, but there were a good many, the number being hard to estimate because tlie audience was a continually changing one, people going in or out according to which catalogue was being offered, and according to what part of it they were interested in. A broker who was at the tale and who was also at the recent Christchurch sale, said that yesterday’s sale did not drag like the Christchurch sale, and to this extent the Timaru sale was better than the one held in Christchurch.

in view of the collapse of the franc, it was expected that tli© French buyers would not be operating yesterday, but this anticipation was a' mistaken one, for France bought almost as keenly as any other country, especially bellies aud pieces. Bradford bought more freely than at Christchurch, and secured the bulk of the good wools. Colonial mills bought more freely than at the Christchurch sale. ii is satisfactory to note that there was no lack of buyers at tho sale, about forty operating in all, Colonial ‘mills as well as Home and foreign buyers being well represented. . And what is more to the point the bidding did not drag; for many lots it was quite animated; and the fact that very few lots were passed indicated that the wool is wanted, and that growers are prepared to meet the market. Of -e of nearly 11,000 'balds',” the passings only amounted to less than one per cent. The wool was cleaner aud brighter than last year, though not so well grown. ”1 think J will ‘bury’ my wool for

--"••r or two,” said one wool grower, who expressed confidence in the restoration of tho market- to tho abnormal prices of former days, but the consensus of opinion seemed to be that there wou’d he no return to the fabulous prices which many said never had any and that tho sooner thev got used to tho no\y level of prices the better. Rather than hold their wool, most growers seemed to fake the view that it would bo better to accent the prices now offering, in which case they could “turn the money over” several" times while they word waiting for the market to recover. Moreover, there were those who said, that reasonable prices, so long as they are stable, are better than exceptionally high prices which lack stability, and while they are going create a false impression of land values and lead to trouble all round. me trouble is, not that wool values are low, but that they are much lowoti than they were last year, and growers naturally find it the reverse of pleasing to have to accept cliequos for their wool this year representing littlo more than half the value of those which they received last year for the same quantity oi wool. “Values were too high, in any case, and the sooner we get bapk to real values the better,” said those who had wool to sell; and vyliilo ttctunl growers admitted tlia-t tlicro was a good deal of truth in this, they did not find it an aere'eabje fact to admit. “When we used to get round about ninepence per pound we used to think it a jolly good .price, and it paid us well,” said some of those who were at yesterday’s sale, but who are now out of the business. Since those clays, however, there has been a big increase in the cost of production, and the price that paid well then will not pay at all now. As to the actual cost of production, this is difficult to estimate on farms used hot))'for wool and grain growing, as it is almost impossible to assess tho value -of the timo given to each, hut on sheep runs used •exclusively for the growing of wool and meat it is calculated that wool cannot be produced to-day under twelve to thirteen pence per pound. Yesterday’s sale commenced at 9 a.m. and concluded at 1 p.m. A feature of it was the keen demand and good prices obtained for farmers’ Strong halfbred, three-quarterbr'ed and crossbred wocis. Bellies and- pieces and oddments commanded special attention, and Continental countries were particularly keen to secure these, as well as t-lio best lots of crutcbings offering. , . •That tlie sate did not mark such a big drop on last year’s closing values as was expected may be judged from the 1 ol—lowing :—Some halfbred which was passed last year at 20£d was sold yesterday at lold; some second halfbred ewe passed last year at 191 d s°ri J’ 08 " terday at 14d; comeback wether passed last year at 20d realised l?d, yesterday, and comeback ewe passed last year at 20Jd sold vesterday at lG^d. ■ •■oaipleic range of the prices obtained yesterday is as follows: Merino — i Extra super, 20id to 22d. Super, UJtl to 20d. Average, IG)d to 18£d. Jnl’erior, 14d to 16d. Corriethile — Super, ISd to 19:]d. Average, 15Jd to 18d. Jnlorii.’r, 12d to 15d. Fine Hail bred— Extra super, 18d to 20Jd. Super, 16d to 18d. Average, ltd to 172 d. Inferior, 12d to 14d. I Medium Halfbred — Extra- super, 16d to lS^d. Super, 14d to 16d. Average, 12d to 14d. Inferior. 10d to 12d. Coarse Halfbred — Extra super, 14d to laid. Super, 12Jd to 14d. Average, to 121 d. Inferior, 9jd to 10|d. Fine Crossbred — Super, 13d to lad. Average, lid to 13d. Medium, 9d to 10)d. Medium Crossbred — Super, 12d to L3d. Average, lOd to 12d. Inferior. Bjd to lOd. Coarse: Crossbred — Super, 11 Jd to 12)d. Average, 9d to lid. inferior, 8d to 9d. Merino pieces— Good to super, lid to 18d. Low to medium, 12d to 14d. Boite- ” Good to suiier, 13d to 14r.d. Low to medium, lOd to 12|d. lialfbred pieces— Good to super, 12d to lad. T,nw in medium, 8d to lid. Crossbred pieces— Good to siiner. Ski to 11 A cl. Low in medium, Gd to Bd. Crutcbings— Medium to good, 7kl to 12jd Inferior, -l-’d to 7d. Lock-'—-Merino, up lo SJd. Halfbred. up to 7d. Crossbred, up to Gd.