WOOL VALUES

Timaru Herald, Volume CXXXIX, Issue 20014, 23 January 1935, Page 8

WOOL VALUES

SLIGHT IMPROVEMENT NOTICED AUCKLAND AUCTION By Telegraph—Press Association AUCKLAND, January 22. Generally low prices prevailed at the second Auckland wool sale to-day, when about 80 per cent, of the catalogue of 24.840 bales was sold. An average of between sid and 6d per lb would represent approximately the value of the wool disposed of, which means that the average price a bale was a little more than £B. At the November sale an average of 5.628 d per lb for a return of £7/16/2 a bale was secured, the total realisation on the 11.299 bales sold being £88.250. With the disposal of about 80 per cent, of to-day’s catalogue, the aggregate return should be nearly £160,600 bringing Auckland’s income from wool for the season to about £250,000, compared with £783.149 from the first two sales last season, when the January auction alone brought in £455.455 at an average price of 12.12 d per lb and £lB/5/a bale. Top price to-day was 12Jd for seven bales of halfbred. The report on the sale issued by the Auckland Woolbrokers’ Association states that there was a full bench of buyers representative of all the wool consuming countries and local mills. Competition was keen within limits, and the bidding at times was animated. As compared with the *irst Auckland sale, prices showed a slight improvement, and all sorts were evenly competed for except lambs, which were not wanted and realised very unsatisfactory bids. Bradford, as usual, took the greatest weight of wool, and there was good support from the Continent Germany operated very sparingly. Local mills took the bulk of the pieces. Japan was in the market for suitable lines. About 80 per cent, of the offering was sold under the hammer. Range of Values. The range of prices was as follows, November, 1934. prices being shown for purposes of comparison:—