BETTER THAN EXPECTED

Timaru Herald, Volume CXLIV, Issue 20932, 11 January 1938, Page 6

BETTER THAN EXPECTED

WOOL VALUES AT WELLINGTON TOP PRICE 16Jd By Telegrapn—Press Association WELLINGTON, January 10. At the second Wellington wool sale of the 1937-38 season—the first of the New Year—held to-day, prices were better than had been expected in view of the recent decline in the wool market overseas. Generally to-day’s prices showed a drop of about lid on those realised at the Dunedin sale on December 12, but they were a farthing to a halfpenny above those of the first Wellington sale on December 8. There was a better selection of good style wools offering to-day, and many of these lines showed a good advance on last month’s prices at Wellington. Lambs’ wool, of which there was a good selection, was keenly competed for and made from Hid to 161 d, the latter being top price of the sale. Coarse crossbreds of the preparing type and all sound wools of good length were at a premium and were from 2d to 3d above the last sale at Wellington.

Bradford and the Continent made the running and were the mainstay of the market. Dominion mills also bought well and paid good prices for wools suitable to their requirements. There were some orders filled for Canada, but Japan kept out of the market. The total offering was about 28,000 bales, of which approximately 77 per cent, was cleared at auction. Many passed in lots were sold later by private treaty. Before Christinas there had been six sales in New Zealand, prices showing a gradual improvement from the low level of the Auckland sale which opened the season on November 27 until the peak was reached at Dunedin on December 21. Since then there has been a marked decline in the Yorkshire market and in Antwerp futures, with a consequent easing in prices at the Sydney sales. Cabled reports from Bradford and the Continent at the latter end of last week were far from reassuring, and revised valuations on a lower level of values were issued by the Wellington brokers for to-day’s offering. Actually prices were better than had been expected, and for certain lines such as lambs’ wool, coarse preparing sorts and good lots, were well in excess of those realised at the December sale at Wellington. The offering included many well-known clips from Wairarapa and Manawatu districts, as well as from Marlborough and Nelson. Among them were many good style wools, but others were lacking in length and light in grease, due to the adverse growing season. There was a fully representative bench of buyers, among whom Bradford and the Continental sections were most active, with Dominion and Australian mills competing strongly for their requirements. Erratic and Dull at Times

The sale was erratic and dull at times, but during the morning it went at a fast pace, more than 1100 lots, consisting of some 10,000 bales, being disposed of during the first two hours, passings being relatively few. Where growers had not accepted the revised valuations of their brokers passings were monotonously heavy and bidding was inclined to drag. In one catalogue of just over 2000 bales the passings at auction amounted to a full 50 per cent. At the close of the sale, which lasted 6J hours, passings totalled 22S per cent., but many sales were made by private treaty.

Top price of the day was 161 d for a line of five bales of A Lambs branded AJB over Pahiatua, which was bought by Ross and Glendinning, Ltd. Range of Prices

The official range of prices realised at to-day’s wool sale, compiled by the Wellington Woolbrokers’ Association is as follows, prices at the first sale last month being shown for purposes of comparison.—

Dec. 8 Jan. 10. d. d. d. d. Merino— Average .. .. 121 to 14 121 to 131 Inferior - .. .. 111 to 121 12 to — Fine halfbred 56--58— Super 131 to 155 131 to 155 Average .. .. 111 to 13 12 to 13-1 Inferior .. .. 9 tollJ 91 to 113 Medium halfbred 50-56— Super 125 to 131 125 to 15 Average .. .. 11 to 124 Hi to 121 Inferior .. .. 91 to 11 104 to 11 Extra fine crossbred 48-50— Super 12 to 131 111 to 15 Average .. .. 104 to 12 101 to Hi Inferior .. .. 9 to 105 8-1 to 10 Fine crossbred 46 -48— Super 111 to 123 into is Average .. .. 10 toll 101 to 111 Inferior .. .. 9 to 97 85 to 104 Medium crossbred 44-46— Super ili to 13 12 to 15 Average .. . • 10 to 111 101 to 111 Inferior .. .. 81 to 9S 81 to lOi Coarse crossbred 40-44— Super 11 to 124 lllto 15 Average .. .. 10 to 10S 101 to lit Inferior .. .. 81 to 95 94 to 105 Low crossbred 3640— Super — to — 12 to 121 Average .. .. 10 to — 103 to 101 Hoggets— Fine 48-50 10 to 134 92 to 131 Fine 46-48 .. 10 to 125 10 to 124 Medium 44-46 95 to Hi — to — Lambs — Down 50-56 .. 12 to — — to— Fine 44-50 10? to 145 iii to 161 Medium 40-44 — to — — to 135 Seedy and Inferior 63 to 10 82 to 12 Bellies and pieces— Merino good to super .. .. 9 to 10 91 to 121 Low to med. — to — 8 to 10 Halfbred good t ;o super 91 to 10 81 to 125 Low to med. . 6 to 9 74 to 9 Crossbred good 1 to super .. .. 81 to 105 8itoll Low to med. . 6 to 81 61 to 85 Crutchings— Med. to good 71 to 101 81 to 111 Inf. and seedy 43 to 7 55 to 85 Locks— • Merino .. .. 51 to 61 45 to 61 Halfbred .. .. 5 to 61 41 to 61 Crosbred .. .. 45 to 75 54 to 72