BETTER THAN IN MARCH

Wanganui Chronicle, Volume LXXXIII, Issue 19998, 15 November 1927, Page 8

BETTER THAN IN MARCH

WOOL PRICES RISE Satisfactory Wellington Sale Marks Opening of Season It is difficult to give the reason, but the price of wool at the opening sale in Wellington yesterday rose fu.ty twopence a pound better than last March. Support came chiefly from the Continent. Bradford bought wool sparingly, and, in the opinion of some buyers for that market, the prices were far too high for it to make its weight fully felt. There was a full bench and the keenest competition was displayed. Just over 9000 bales were offered, the wool being very well grown and less wasty, though a trifle heavier in grease than a year ago. America procured some of the better condition and more stylish of the wools. Australia was a valuable buyer for wools suitable to the manufacturer there. Trance strongly competed for fleece wools and Germany also bought heavily.

GRADE BY GRADE

OFFICIAL RANGE OF PRICES ( Per Press Association. 1 WELLINGTON. Nov. 14. The following is the official range of prices for to-day's wool sale, which marked the „ commencement of the 1927-28 New Zealand series-

BROKERS’ REPORTS

VERY KEEN COMPETITION. [ Special “ Chronicle ” Service ] WELLINGTON Nov. 14. Brokers represented at to-day s sale report as follows on the market: — MURRAY ROBERTS & CO. The first wool sale of the season opened to-day to a record attendance of buyers. The total offering was 9000 bales, our offering being 1900. All sections of the woollen trade were represented and competition was keen from the outset, .particularly from French buyers. Bradford was after most lots, but for liner sorts were generally outbid by the Continent. German buyers were present, but were not bidding in their usual strength. America, as usual, was in the market for good super wools. Dominion mills secured most of the few merino lots and some of the finer crossbreds. Generally, the market was very excited for fine wool, and values, compared with the March salp were low, and coarse crossbred 2d higher, 2d for medium, and 2d to 2id higher for finer crossbred and halfbred. The following are some of the sales made: —A G M: Romney H, ISj-J-F.H.V. over Richmond: Romney H A, 17d. Romney E A. E.S. over Parorangi: Romney W A 171 d, Romney H A J9id, W B IWd. H B 17|d, W and H 16d. Te Mahora: Romney H A 18£d, W A 17jd. Rangitawa: Crossbred, 14d. E. E. S. over Mahua: Romney E H 18W. W 17J. DH/L: Crossbred H 17£d. E 16|d. Port Hardy: Super half bred 21 Jd, B halfbred 20d. Wellington: Super half bred 20Jd. A. A. H-: Crossbred 194 d, A H E 18jd, A A E 18d, A E lajd. Bitterley: Super halfbred. 22 bi. Ngahipi: Crossbred H A 17jd. G. V. S. over Totaras: Crossbred H A A 191-1, W A A 18J4, W A 16$d. W B 15’d. Sandsons over Parorangi: Romney A E 17Jd. B E 15$d, A A H 191 d, A H 18}d, B H 17|d. Rewa Rewa: Crossbred H A 17d. E A Ififd. LOAN & MERCANTILE CO. The first sale of the season was held U>-day. when the combined brokers offered catalogues totalling about ,9000 bales to a very full bench of buyers. Competition was very keen, the Continent eagerly competing for hogget wools, and prices showed an advance of abonr 2|d on last March rates. Local mills were competing strongly for fine wools, prices appreciating 2d to 3d above March rates. The brokers anticipated that prices would be high, mainly owing to the catalogue striking a bare market, and this having more to do with the exceptiona’, competition than the market warrants.

LEVIN & COMPANY. The first sale of the 1927-28 season was held to-day. The benches were overflowing with buyers from all consuming centres —Great Britain, the United States, France, Belgium, Italy, Germany. Switzerland, Japan, Canada, Australian and Dominion mills. Several new operators were present —a tribute to the established importance of the Dominion sales. They came principally from the Continent, indicating the economic importance to the grower and • onsumer alike of the marketing of wool near the point of production and thus eliminating unnecessary transit costs and at the same time enabling buyers to get their requirements first hand. The offering was 9021 bales, as against 11.179 bales for the November sale in 1926, the continued wet weather limiting receipts. Our catalogue was 2670 bales, comprised largely of excellent crossbred, principally from the Wairarapa and nearby stations. Recent indications have been in the direction of better prices, though the last March sale in Wellington was good and on the average has not been excelled. At the latest sales in London there was, however, been evidence of a shortage of stocks in consuming centres, and the demand recently for stipes in London and crossbreds and comebacks in Australia has caused a general feeling of optimism amongst growers and even buyers. It was anticipated, therefore, that the sale would set a new level of prices, but few anticipated that the rise would be as substantial as that which occurred to-day. Bidding was. from the outset, brisk, well distributed and keen, resulting in a total clearance of our catalogue. All the buyers seemed eager to secure supplies, and whilst Bradford was bidding very hard, most lots fell eventually into the hands of operators for the Continent, America and Australian mills. The two latter quarters were after the best lines of Romneys and Romney hoggets. Pieces and bellies and necks brought extreme prices for the Continent and Dominion Mills, and occasionally made fleece prices. Crutchings reached higher rates than at any period this year. Thp following is the movement of prices in crossbreds as compared with last: —Fine crossbred, 46/48’s, 2d to 2|d higher: medium crossbred, 44/46’s, Ibl to 2d higher: coarse crossbred, 40/44’s. 1 .‘.<l to 2d higher; low crossbred. 36/40’s lid to 2d higher. Bellies and pieces, 2d to 3d higher. DALGETY & CO. Dalgety and Company, Ltd., report at Wellington a large bench of buyers, animated competition, and a good selection of light conditioned wools. France and Australia were the largest buyers, their limits being ahead of English competition. As compared with last March rates fine wools showed 2d to 2id appreciation; medium to coarse, lid to 2d; average fine crossbred, 15d to medium, 14d to 15 sd; coarse, 12id to 14 Jd. FARMERS’ CO-OP. DISTRIBUTING COMPANY. The first wool sale of the season commenced at Wellington this morning, approximately 9000 bales being submitted to the largest attendance of buyers in the history of the wool-selling trade in New Zealand, over 80 seats being occupied. There were present representatives from the United Kingdom, U.S.A., France, Germany, Russia, Japan, local mills and Dominion scourers. From a grower’s point of view the sale was an exceedingly satisfactory one, a total clearance being effected at prices very much in advance of those ruling at the best sales last season, the forward movement being anything from 2d to 3d per lb. Unfortunately, practically the whole of the offering was taken by Continiutal buvers, who outbid Bradford on suitable lots. This feature of the sale must, we consider, be a matter for slight uneasiness, as when the heavier weights come on the market prices may have to come back more to "Bradford I levels. There are, however, indications of m ’ exceedingly keen demand until Christmas, and beyond that period we do no: i care to advance an opinion. Crossbred, IJd. CCD/C: Romney ewes, I 15}d. EEP: Hoggets, 17J-d. Job P: Hog- ' gets AA, 171 d. Bcnarty: Hoggets, 16|d. VH/W: Hoggets 17|d, W 17jd. JHD/j NGATAWA: Sup. Romney H, 18ld: i Various: Southdown, 22$d, hoggets A I fine, 17fd. WRIGHT, STEPHENSON & CO., LTD., AND ABRAHAM & WILLIAMS, LTD. ' A catalogue of 1470 bales was offered ! by us to a very representative attendance of buyers, all the benches being ‘ lull. Competition was spirited from the i outset, and we sold the whole of our > offering except one lot of crutchings, I under the hammer. ' Although bidding was general the Continent and France, in particular, dominated the market. America took • a few suitable lots, but Bradford operators were unable to buy any quantity lat their limits. Japan was bidding ■ keenly on crutchings and suitable fleece ■ lots. 1 Our offering was drawn chiefly from

the Marlborough, Wairarapa and Manawatu districts, and the wool, compared with last year, was much better grown and of a softer handling quality; this being the result of the milder winter conditions generally experienced. The continued wet weather has delayed shearing and the total offering was considerably less than at the first sale last year. i Prices, compared with the March [ series, showed an advance of 2d to 2+d | for finer wool and 14d to 2d for medium ‘and coarse sorts. I The sale may be considered a highly | satisfactorw one, the only disquieting factor being Bradford’s inability to operate at ruling prices.

d. d. Merino— Super . 251 to 26? Average to 24 Pi ne Half bred— Super . 22f to 26? Average . 194 to Medium Halfbred — . 204 to Average . 19 to 204 Inferior . 15? to 164 Coarse Half bred — Super . 19 to 204 Average . 124 to 14J Inferior .. . • •• • . 14 to 15? Fine Crossbred — Super - - . . 17 to IS? Average , J ■> to 171 Inferior . 13 to 144 Medium Crossbred— Super . 16 to 174 Average .. .. . . 14 to 14? Inferior . 12 to 13? Coarse Crossbred — Super .. .. •. •• • . 14 to 15? Average . 12j to 144 Inferior . 10 to 12 Low Crossbred — Super .. -- -• •• • . 134 to 144 Average . 114 to 1ST Inferior . • •• • • . . 9 to 11 Hoggets. 48-50 . 16 to 20J Fine . 15 to 184 Medium .. . • •• • . 144 to • / Coarse 14 to 151 Ix>w .. . . 12 to 14 Bellies and Pieces — Crossbred — Good to Super .. . . 13 to 174 Low to medium .. . . 84 to 12-i Crutchin gs— Good ■. •• •• ■• to 12? Inferior . 6J to bj Locks 61 to 84