WOOL SALES.

Star (Christchurch), Volume LXVI, Issue 20425, 2 October 1934, Page 9

WOOL SALES.

Argentine Exports Much Lower. HEAVY STOCKS UNSOLD. NEW YORK. September 30. The Bueno? Aires correspondent of the “New York Times” says: Argentina’s wool year closed to-day with the largest carry-over for many vears. There is a stock amounting to 0.700,0001 b, unsold on the wool selling door of the central market at Avellaneda. compared with 390,0001 b at the end of last season. “Exports were 21} per cent lower than the previous season. The United States too- only 20.637 bales, compared with 47,988 in the previous season and Britain and Japan were the only markets which increased their purchases, the former taking 107.000 bales and the latter 11.286 bales.” BRISBANE SERIES. Values Up to 5 p.c. Higher Than Sydney. (Received October 2, 11 am.) * BRISBANE, October 2. At the Brisbane wool -sale, values were either firm or 5 per cent higher than the closing rates in Sydney last week. There was a good clearance of the 5039 bales offered, and the clay’s realisation was about £IOO,OOO. LONDON PRICES. Firm Tone and Sustained Competition. (Received October 2, 11.45 a m.) LONDON, October 1. At the wool sales. 7184 bales were offered, including 3713 from New Zealand. About 6655 Australian and New Zealand bales were sold. There was a firm tone and sustained Home and Continental competition at full rates. New Zealand lots sold as follows: Greasy cross-bred: Mohaklino (top price 9}d), average 7?d. Greasy halfbred: Ngaio Downs (top KHcI;. average lOd. JAPAN BUYS WOOL. Points From the Sydney Sales. (Special to the " Star.”) SYDNEY. September 23. Tapan bought heavily at the Sydney wool sales. Why? Not as Bradford hinted, “ because her stocks are low and she contemplated expanding her woollen goods trade.” “ Mere propaganda,” replied a Japanese buyer. “If wool comes down another 15 per cent our purchases will still further increase. At present they are all for home and immediate requirements. “ Our difficulty now is that we are getting orders from only one or two mills, and not. as generally, in the past, from manv mills. Market Shaky. “ Some of our mills have all they require for the present. They thought i they could buy here in the off season [ but. una'cle to get what they needed ' placed their orders elsewhere—some in - South Africa. “ The market is somewhat shaky, so everybody has to be cautious in | buying. [ “ Then, too, your tariff affects sales. | We can't dc trade, and if the money jis tied up. we can't buy wool as we I would like.” Going Slow. Germany is holding oif because, says | one of her buyers. “ the position is too uncertain. “ We have to go slow. Perhaps by December—well, who knows?” On the maintenance of the Queensland parity a Sydney expert said: “ The wool so far offered cannot be taken as the average for the season, because our best wools come in later; some lots auctioned this week were carried over from last season. “ Germany is not now in the market, and France. Italy and Belgium are only moderately in. In 1933 all countries were buying owing to world shortage. “ There is no need for undue pessimism.” One In Six. The woolgrower's viewpoint is that one season of high prices (1933) in six doesn't compensate him for the lean years. In October, 1932. the Wool Inquiry Committee estimated his costs to the point of sale (including interest) at 14d lb Since then rail freights, taxation, interest, brokers’ charges, Crown rents And wages have fallen, so that costs would now be less, but yet not sufficient to give a profit at certain prices. WHEAT INVESTIGATIONS. (Received October 2, 1.45 p.m.) WINNIPEG, October 1. wheat futures operations as requested by Mr .John M'Farland. chairman of the selling agency for the wheat pools, is seeking the source of the heavy selling: of futures during r-eent weeks in sac*"f itduced marketing and delivering by farmers. The - Free Press ” hints at “overseas skullduggery 1 and suspects tempts to torner wheat. Mr F’FarAires and’ Li verpool‘'futures' 1 markets. TINWALD STOCK SALE. (Special to the “ Star.”) ASHBURTON. October 2. Compared with tlu* Ashburton sale last week, a better tone prevailed throughout the Tinwald fat stock sale to-day, and prices were a shade higher. The yarding consisted chiefly of lightweight sheep, and bidding was more spirited than usual. Up to noon. 12. P. Cookson (Eiffelton) topped the market with two extra prime wethers at 25s 7d. Prices for other pens of fat wethers ranged from 16s 2d to 24s lOd. D. Latimer, Eiffelton, headed the fat ewe section with one at 23s 6d. the next best price, 23s Id, going to R. J. JlampVrh’ c u'lV' f l l’ f ° r a i;>Cn of four - The account of w. ll.' King, ’Winchmore, with pens at 19s 4rl to 21s lOd: s. H. Lill. Tinwald, 16s lfld to 20s Id: F \V Morns*. Lynnford. 15s 1d to 20s Id; •J. T. Wallis, Windermere, 17s lOd to 19s 4d ; F. P. Cookson, Kiffelton. 20s to 21s 1 Or]: .T. M’Dougall. Lismoro. 16s id to 19s 4d; and K. Campbell, Lagmhar. l<s 4d to ISs 10.1. There was a fair entry of cattle. One fat heifer sold on account of (1. Tait, Lowdiffc, brought £7 12s 6d. Enip t y <-o w s ren 1 ised £lss to profit £2 Is to £2 17s’ 6d?'Veifcrs* £2 to £2 Ids, steers to £4 1 Gs.