A WEAKER MARKET

Wanganui Chronicle, Volume 72, Issue 291, 7 December 1929, Page 10

A WEAKER MARKET

WELLINGTON WOOL SALE CROSSBREDS LOWER IN VALUE (Special to “Chronicle”) WELLINGTON Dec. 6. The following is the official range of prices:—

Note. —. Merinos and halfbreds in November sales were insufficient to quote. Messrs Levin and Co., Ltd., report:— “The second sale of the 1929-30 season was held to-day. The total offering was ”2,355 bales. Our catalogue represented f 1,049 bales. The offering of crossbreds came largely from the Manawatu, Wairarapa ami Southern Hawke’s Bay. There was a fair offering of halfbreds from Marlborough and Nelson, and a littic Merino. “The wool generally was of bright colour, but the offering, with a few exceptions, Jacked fullness of staple and healthy lustre. Tender and wasty staples were much in evidence. The indifferent growth was entirely due to the unfavourable winter and spring. The defects affected the prices realised, particularly in the case of seme of the best super clips “Any of these super clips which showed good growth were eagerly competed for by American and Australian 1 buyers and sold comparatively well, bringing from 13d to 143 d. Those showing tenderness or a wasty staple fell down to the Bradford level of prices which was round about lid to 124. The intermediate wools, or average grades, were difficult of sale and irregular in accordance with their particular suitability for buyers’ orders and showed the greatest decline. On the other hand, wools which were shabby and dingy and short in staple met with a good Continental demand and only declined a halfpenny. To sum up. as compared with the November sale, faultless super crossbred sold at about par. tender and thin super cross- i breds declined a full Id. Average crossbreds declined Id to lid and shabby and dingy and somewhat inferior declined Ul. “Lambs wool was competed for by the local mills but French competition was lacking. This grade has also fallen on evil times and sold at lOd to 12d. Merino was difficult to sell. There was 1 -i very limited quantity offering, which sold at about 11 3d to 123 d for fair average quality. Pieces, bellies and crutchings met with a good demand from the Continent and sold comparatively well at November rates. There were considerable passings, growers not being prepared for the lower tendency in the market, which since the opening sale in November has been showing evident signs of weakness. Fine wools generally have fallen more in proportion than coarse crossbreds and to-dav the finest grades of clips j were selling cheaper than the coarser grades. This is probably due to the heavy weight of Merino unsold in the world and incidentally to the competition of artificial silks. The cheapness of wool may bring about inefeased consumption and the removal of the surplussagc. This is the silver lining, but it will require time to develop. The New Zealand Loan and Mercantile Agency (Jo.. Wellington, report: “The combined brokers offered approximately 22.000 bales, of which about 70 per cent were disposed of under the hammer. There was a large attendance of buyers, representing Bradford, America, the Continent. Dominion mills and local scourers. Bidding was erratic, Bradford competing keenly for suitable lines up to limits, whilst Continental buyers showed spirited bidding for certain linos suitable to their requirements. The selection of wool was lighter in condition ami better grown than the previous sale’s catalogue. “Comparing prices realised to-day with those Tilling at the November sale, halfbreds are on a par but crossbreds fare from a penny Io a penny halfp'nny easier.” The N«\v Zealand Farmers’ Co-op Distributing Co.. Ltd., report as follows:—“The second sale of the season was held yesterday when catalogues I totalling 22.500 bales were submitted bv 1.. .......

the associated brokers to a full bench of buyers, representing all sections of the trade. The wools displayed were generally speaking not up to the usual standard of the Wellington December offerings, being indifferently grown, tender and net as bright and attractive. Prices ruled at lower levels than was anticipated by brokers, consequently passings were fairly numerous. At no stage of the sale could competition be described as animated and super wools sold at about one half-penny per lb. raid medium to good at iron, one penny to one penny halfpenny per lb. lower than in the November sale, while strong crossbreds sold in some instances at par to one half-penny per jb. higher than in the earlier sale. Wc submitted a catalogue of about 1800 bales, included in which were some exceptionally choice parcels of fine crossbreds from the ‘Wairarapa, Feilding and Marton districts and these sold well up to expectations, but unskirted lots and those showing a fair amount of seed were to a great extent neglected. “Our principal realisations were as follows. Crossbreds: —Hogget 133 d to 14d, EA 124 d, first pieces 103 d, Waingaio hoggets 13Jd, EA 12ld, first pieces 114 d, 800 hogget 12d, MG/Raumanga 123 d. RFM/MV wether 123 d to 13id, J-D/Ngatawa hogget 13d, Rom super .13bl, R in circle, hogget, 13 jd, hare hogget 12Ad, various hogget 12d to 12.}d, Tinui hogget lljd, Oko hogget llhl, Ngatarahanga E lid to Hid, Hikoraugi E 12d, various crossbred super 12Jd, Ngahue E lid, Benartv E lid, T3S E lid. Cluny Hill E lid, FW/B E lid, T/KK Hid, KG hogget lid, ED/Opaki hogget .lljd, Wai repo hoggets H3d. CH/AWA E lid, AS/X E 113 d, Co-op. fine crossbred Hjd, medium crossbred 12d, Ahau hogget and E

Murray, Roberts and Co., report:— “At our second wool sale of the season to-day there was a total offering of 22,500 bales. Our proportion was 4250 halt's. There was an exceptionally large attendance of buyers. Our offering was representative of the Wairarapa, East Coast, Manawatu and Rang'd ikoi districts, also from the Sounds and Marlborough. Wc experienced good competition on all better class lines hut for shabby and ordinary average wools the sale was not at all animated and showed a decline of a halfpenny to threefarthings lower than November. I'nskirted bright wools suffered in a like manner. Pieces and bellies were in good demand and there was little change to report in these. Some realisations were: Moir X.B. wethers lOd, X.B. hoggets 103 d, X.B. ewes IQtd; Wakarua, Half bred A. A. 123 d, super fine X.B. A.H. 12d, super fine X.B. wethers llid, fine X.B. B.H. Hid, X.B. C.H. lid, X.B. C.W. llld, X.B. D.H. lid, necks ll]d, first pieces 9Ad, fine Crossbred H.A. l(J3d, fine Crossbred W.A. lOd, Crossbred B.H. 93; Wharehunga, fine Crossbred A. 103d,,' D.W.F., fine Crossbred B. 113 d, Crossbred C lid. 0.J.M., Crossbred 103 d. Bayview Crossbred IOAd, Merino 123 d. Hckenga Crossbred W lid, Crossbred H lid. E.E.E., Romney E.A. 123 d; Parorangi, Romney E.B. 113 d. R.R.8., super fine Crossbred, —. . Woodlands, A.A.W. 14Ad, super fine 'Crossbred A.A.H. 133 d, super fi.no Crossbred A.A.E. 13Jd, fine Crossbred A.W. .15Ari. JWR Crossbred hoggets 103 d, mixed Crossbred wethers 103 d. A.JW', Crossbred ewes lid; Mahoe Anikiwa, Crossbred 103 d. Messrs Dalgety and Company, Limited, report: “At the time of writing about half the catalogues have been gone through. The tone of the market can be described as being anything but bright. It was very soon recognised that the limits held by Bradford and Continental buyers were considerably below those that were current at the Wellington sale on the 14th November last with which the New Zealand season opened. It was anticipated that a depreciation in values, as compared with those ruling last November, would be recorded, but the fall at time of writing is heavier than expected. The offering for a December sale was rather disappointing, the wool being thin, off colour and rather badly grown.

“The quantity of super wools which is generally a feature of the December sale, was very limited but when any good lines came before buyers sound prices were obtained, a number being secured for the United States trade. The demand for the coarser styles of crossbred was comparatively good and any good bright lines of 36/44’s quality brought forth very keen competition, and prices paid for this style of wool were in many cases higher than for those paid for 46/50’s. This style of wool is becoming a ve-ry scarce commodity. “At the low range of prices offering as the sale proceeded Bradford was in the market taking fair quantities and German buyers were also operating fairly freely; the American trade had a few orders to fill for wool suitable to its requirements. All classes of skirtings met fair market, France and Germany being t>e principal operators. Passings were fairly heavy as the sale proceeded, but we have no doubt that many of the best lines will be disposed of by private treaty.’ ’ Messrs Wright, Stephenson and Co. Ltd in conjunction with Abraham and Williams, Limited, report: “At this series, we offered a catalogue of 3202 bales. At the opening of the sale it was evident that buyers’ limits had been considerably restricted and although there was a full bench in attendance and bidding was keen an well distri buted, there was a considerable amount of wool passed in. Latest advices from the consuming centres report a lack of confidence and a weaker demand, lr< spite of the lower values wool is stiff selling in the Dominion above Louden parity; as a consequence a big propor tion of growers is meeting the market It was unfortunate that lower prices brokers’ values had been sent out T -o growers. Most of the latter who aL tended the sale reduced their reserve! to facilitate business and a considerable amount of wool was sold privately after the auction closed “Our catalogue comprised consignments from Wairarapa, Manawatu, Rangitikei, Marlborough and Nelson and at auction and privately, we managed to effect a fairly satisfactory clearance. The feature of the sale was a keen demand for courser crossbreds. These arc becoming increasingly scarce and comparatively sold w'dl The woof. taken all over, was not nearly so attractive as last year’s offering at the same sale. As in November many clips showed the effect of t».e hard conditions prevailing during the last winter. Wc refer our clients to fhe official range of prices published in this issue. “Some of our best prices wereas follows: Crossbred hoggets: Tupurupuru 7 B/s at 12Ad, 8 B/s at 113 d, 10 B/s at lid; AMB-Waitawa 4 B/s at 12<1. H B/s at Hid; JJB 7 B/s at lid, 14 B/s at 11 Ad; Maranoa 5 B/s at Hid HU/Waikuku 8 B/s at 11 Ad B/s at 12d P.TM 5 B/s at Hid, AE 7 Bs at lid; Nerang 5 B/s at 113 d; Atahua/D 8 B/s at H3d; Sugar Loaf 7 B/s at HAd; RBM 4 B/s at lid; Kaiwaka 10 B/s

at lid; T and S/Tcwaro 5 B/s at lid; ! E Bros 6 B/s at 114 d; RAC/M 7 B/s 1 at H3d; K. 5 B/s at H3d; Mahara 4 • B/s at lid. DC/Rawea 4 B/s at 113 d; i Waiora 6 B/s at 123 d; Glenelg 6 B/s j at 113 d; GFN 12 B/s at lid; Oamaru ; nui 4 B/s at 113 d; WB 6 B/s at 12d; ■ Tangimoana 6 B/s at lid; Oete 7 B/s; at lid; EB/Titahi 11 B/s at Hid. “Crossbred: ABM/Waitawa 5 B/s ax ; 12d; K Bros 7 B/s at 12d; 34 B/s ui '■ s at lid; Tupurupuru 15 B/s at 123 d; ; 4 B/s at 12d; JO B/s at llfd; 49 B/s 1 at Had; Auntsfield 11 B/s at 113 d; CBRO/Haroto 7 B/s at Hid; 9 B/s at | 103 d; RW 6 B/s at 113 d; MB/Tawa 4 i B/s at 113 d. Waiora 4 B/s at HAd; 23 • B/s at lid; B/s at lOgd; Glenelg 4. B/s at 12d; 12 B/s at 22 B/s at : H3d; Oamarunui 10 B/s at lid, | Achdalieu 26 B/s at lid; AO/Lindaie : 13 B/s at 11 Ad. Challenge 8 B/s t 13d;! 08/s at 113 d; 9 B/s at HAd; 17 B/s ci j

Marino, 64/70, 60/64 — 14 A Dec. 6. One offered Super .. .. Inferior .. A'ov. -ii| to 12} 11 Fine Halfbred, 56/58 — Extra super 16} Super .. .. 14 to 15 Average iii to 13} Inferior .. 104 to 11 Medium Halfbred, 50 56— Super .. . . 13} to 14} Average .. 114 to 13 Inferior .. 94 to 11} Extra Fine Crossbred, 48/50— Super .. .. 13 to 144 12} to 14} Average .. 111 to 12J 10} to 1-1 Inferior .. 104 to 1 1 } 9} to 3 0} Fine CrossbredExtra super 154 Super .. .. 13 to 14} 12 4 to 14} Av<‘ra <r e 111 to 13 10} to 12 Inferior .. 94 to 11 9 to 10} Medium Crossbred. 44/40 — Super •. .. .12] to 13$ 12 to 14 Averag e .. .11 to 12 10 to Hl Inferior 9} to 11 9 to 10 Coarse Crossbred, 40/44 — Super .. .. 12 to 13} 12 to 13} Axerage .. 10} to in 10 to H4 Inferior .. 9 to 9} 8} to 94 Low Crossbred. 36/40— Extra super 13 to 134 Super .. .. 111 to Average .. .10 to 111 Hoggets— 48/50 .. .. 12 to 14 10} to 141 Fine, 46/48 12 to 14} 10 to 124 Med., 44/46 12 to i 2 .. 40} to 121 Lambs — Fine, 46/50 . 11 to 141 Seedy <fc Inf, all grades 7 to 10 Bellies & Pieces, HalfbredGood to super 8} to 11 Low to med. 6} to 71 Crossbred—• Good to sup. 8 to 11 7} to Hi Low to med. 6 to 7} 5} to 71 Crutchings— Med. tu good 8} to 9} 7 to 9} Inf. & seedy 3} to u 5} to 61 Locks—• Halfbred .. , 51 Crossbred .. 4} to 54 4} to 5*