FIRST WOOL SALE.

Wairarapa Age, 30 November 1936, Page 5

FIRST WOOL SALE.

NOTABLE PRICE INCREASE IN AUCKLAND. advance of sixty per cent. ON LAST SEASON. JAPANESE BUYING DOMINATES MARKET. AUCKLAND; November 29. A sensational advance in prices occurred when the first wool sale for the 1936-37 season in New Zealand was held in Auckland on Saturday. Rates rose about 60 per cent, in comparison with the average values of last season. There was a practically complete clearance of the 21,590 bales offered for sale, and with the estimated average return of about £2O per bale, there is every indication that wool is returning to its former proud position as New Zealand’s “golden fleece.”

Not since the 1928-29 season, when an average price ot 14.9 d per lb. was obtained over the yeaty has there been such an amazing sale in Auckland. Right at the start of the Urftion. prices rose with a jump to the utter amazement even of a majority of the buyers, and thfiy were fully maintained throughout the day. The dominant factor in the sale was intense competition from Japanese buyers, xuey stormed the market, and, operating apparently almost without limit, set a pace which was far too hot for Bradford.

The official repart on the sale estimated that Japan took half the catalogued quantity, but individual brokers were inclined to think that this was a conservative estimate

On the estimated average of 14d lb and £2O per bale, the' return to wool growers in the Auckland Province from the opening sale should be in excess of £430,000, compared witk £240,154 obtained at the opening sale last year, when the average prices were 8.27 d lb. and £l2 2s per bale. If the opening rates are maintained throughout the season, and if the total clip for New Zealand is taken at 500,000’ bales, the Dominion’s wool cheque for the season should easily bear comparison with that of 1928-29, when the total value was £12,217,000.

Growers attended Saturday sale in large numbers and the expressions on their faces left no doubt as to tlteir reactions at finding the highest valuations placed on their clips exceeded by a considerable margin. WOOL-BROKERS’ REPORT..

The Auckland Wool-Brokers’ Association reports as follows: There was a full bench of buyers and while bidding was somewhat erratic, it was spirited at times, though confined to a certain section of the trade. There was exceptionally strong competition from Japan for fleece wools, but the Japanese bearers took all lines suitable for their requirements, amounting to about half the catalogued quantity. The Contingent secured" the bulk of the oddments, while local mills competed keenly for super half-bred lines, most ot which, fell to their bids. The best price rear Used was 26d for a line o. seven bales' of super half-bred and while all gradesshow a substantial increase on last season’s rates, the extreme prices paid: were confined to two buyers. What was practically a total clearance was effected under the hammer, only one or two isolated lots being passed in some catalogues. The range of prices was as follows, November 1935 prices being shown in parentheses for purposes of comparison:— Southdown A, 19id to 2<Hd (131 d to 14}d); Southdown B, 16ld to 19d (lljd to 12Jd). Half-bred, 56/58: Super, 23 Jd to 26d (14jd to I5Jd). Average to good, 19d to 23d (12Jd to 13}d); inferior, 17d to 18}d (9Jd to lid). Half-bred, 50/56.: Super, 17d to 18Jd (12Jd to 14d); average, Isd to 16jd (9Jd to lOJd); inferior, 14d to 14jd (Bjd to 9Jd). Extra fine crossbred, 48/50: Super, 16Jd to 18d (10}d to Hid); average, 15d to 16Jd (Bid to 9Jd); inferior, 13 jd to 14jd (7jd to BJd). Fine crossbred, 46/48: Super, 16d to 17d (9d to lOd); average, 14Jd to 15}d (7Jd to 8}d); inferior, 13d to 14jd (6Jd to 7Jd). Medium crossbred, 44/46: Super, 16d to 17d (8d to 8Jd); average, 13id to 15{d (7Jd to 7Jd); inferior, 12d to 13id (6d to 6}d). Coarse crossbred, 40/44: Super, 15d to 16d (7Jd to 8Jd); average, 13 jd to 14jd (7d to 7Jd); inferior, 12d to 13id (sjd to 6jd). Strong crossbred, 36/40: Super, 14d to 15d; (7Jd to 8Jd); average, 12Jd to 13Jd (7d to 7Jd); inferior, 12d to 12 Jd (aid to 6id).

Hoggets: 56/58, 21d to 24d (14}d to Isid); 50/56, I7Jd to 20Jd (12Jd to 13Jd); 48/50, 15Jd to 17d (lOd to 12d); 46/48, 14d to I6d (BJd to 9Jd); 44/46, 14d to 16d (7Jd to Bid). Lambs’ Down: Crossbred, 12d to 13Jd (8d to »Jd); fine, 14d to 15id (7Jd to 8Jd); medium, 12 jd to 13{d (5Jd to 7d); seedy and inferior, 6d to lOd (4}d to 6d).

Bellies and pieces; crossbred: Good to super, lid to 12Jd (Bld to 7Jd); low to medium, 9d to IOJd (4Jd to 6d). Halfbred, bellies and pieces: 15d to 17d (84d to Did). Crutchings: Medium to good, lid to 12id (Gid to 7id); inferior to seedy, 9Jd to lid (4Jd to sid). Locks, crossbred: 6d to B}d (3Jd to 4jd).—(P.A.)