THE WOOL MARKET

Waikato Times, Volume 116, Issue 19456, 21 December 1934, Page 8

THE WOOL MARKET

SALE. AT DUNEDIN.

COMPETITION VERY KEEN.

TIMARU PRICES EXCEEDED

(By Tclegrapii.—Press Association.)

DUNEDIN. Thursday. The first wool sale for the 1934*35 season in Dunedin was held to-day, when the catalogues auctioned amounted to 16,370 bales, althougi the allocation for the sale was 20,00 U bales. Exceptional shearing weather had been experienced ■ for the season and the wool available for the sale was greatly in excess of the allocation, but a good many fanners were not piepared to meet the market and are holding their slips for later sales. The wool offered to-day was particularly attractive, being well grown, sound and in good condition. A notable feature whs the lessened- offering of crossbreds. In comparison with the first sales of other years there was a greater percentage of fine wools, representing station clips, and _ a good many of these were suitable tor loca mills. A full bench -of buyers was present, all purchasing countries being represented. Competition was exceptionally keen, the sale being more spirited than was expected. The first noticeable feature was the manner in which growers met the market.

Brokers’ Valuations Exceeded.

In most cases broilers’ valuations were exceeded and it was only where high reserves had been placed on clips that there were any passings, the total of which would not exceed 5 per cent, on all' catalogues. Compared with values ruling at the first sale of last season the market -showed a decline o 40 per cent, over the whole catalogue. The greatest drop was felt in fine wools and in lots which in the past were purchased for the German trade. In crossbreds the decline was not so marked. The average price over the saie showed a slight Improvement in the market since the sale at Tlmaru a few days ago. , The purchasing strength of to-day s sale came from local mills, Bradford and the Continent, the latter being more in evidence than at previous sales. There was also speculative buying which considerably helped the market. German competition, which had been lacking at northern sales, was more noticeable, one or two of their representatives operating freely. There was practically no competition from Japan, but several lots were taken for American and Canadian orders. The top price realised was 14td per lb, which was paid for three lots of super Merino wool from Puketoi station on account of Mrs Watson Shennan Two lots of fine halfbred .also sold at 14Ad, the grower being Mr W. Johnstone, of Teviot.

Official Range of Prices.

The following is the official range of prices, those for the sale held in December, 1933, also being given for purposes of comparison:

TOTAL RETURN, 76,600.

MUCH LESS THAN LAST YEAR

(By Telegraph.—Press Association.) DUNEDIN, Thursday,

One of the features of the wool sale to-day was the reawakening of Continental interest in fine wools, the inquiry from that quarter being one of the chief sources of the improved .strength. It is estimated that the average price a pounidi to-day was Bid, making a return of £ll 5s a hale and a gross receipt by growers of approximately £175,500, which compares very unfavourably with the gross return of £550,000 at the December sale last year, when the average price a pound was 13.89 d, and the price a bale £l9 3s 6d. However, only 1 6,370 bales were offered to-day, compared with over 30,000 last December. To-day’s prices indicated a slight firming on the Timaru rates, which were the best to date this season in the fine wool region of the South Island a nidi on the whole it can lie said that the sale was a satisfactory one.

Dec. 1933 Dec. 1934 Merio— Extra super .. d d to 22* 18 to 194 d d to 144 12 to 13 Average 16* to 171 10 to 1 1 15 to 16 8 Li> 9 Fine Halfbred, 56-: 58— to 144 11 to 12} Extra super ... to 221 20 to 22 Average 18 to 194 9} to 104 Inferior 154 to 17 84 to 94 Medium Manured, 50-56 — to 13 Extra super .. 19 to 21* 104 to 114 Average 171 to 181 9 to 10 15 to 17 7* to 8} Fine Crossbred, 48 -50— to 11 Extra super .. 18 to 191 10 to 17* 8* to 10 Average 14 to 15 4 7} to 8} 124 to 13} 6 to 7 Crossbred, 4 6-48 — to 10 Extra super .. — 13* to 14} 11} to 13 8 to 9 Average Inferior Medium crossbred, Super Average InrtTiqr .: Necks and Pieces— Hairbred: Good to super Low to medium Crossbred: Good to super Low to medium Bellies — HaMbred: 6* to 7 5 to 6 7 to 8 11 to 12 44-46— 11 to 12} 9* to 10} S to 9 17* to 21 13 to 16* to 17 7 to 10 13 to 164 5} to 64 4 J to 5 9 to 11* 5 to 8 6 to 74 3 to 5 7 to ' 8* Good to super Low to medium Crossbred: 11 to 12} 44 to 6 Good to supet 10 to 12 54 to 64 Low to medium Crutchings— 7 to 9} to 134 3 to 4} Extra good . . 6 to 7} Med. to good 9 to 12 4 to 54 Fair and seedy Locks — 5 to 84 2* to 3 Extra good .. to 94 4 to 5} Med. to good 5* to 84 ' 3 to 3} inferior ...... 3 to 5 1 to 14