WOOL SALE.

Press, Volume LX, Issue 18233, 18 November 1924, Page 10

WOOL SALE.

OPENS AT | WELLINGTON. PHENOMENAL ADVANCE. AVERAGE OF FIVEPENCE SINCE MARCH. (PKISS ASSOCIATION TZLIOfcAa.) WELLINGTON, November 17. The opening wool sale of the season was held in the Town Hall to-day. The catalogue was only 7225 bales, about half the usual amount, but the general quality has scarcely ever been excelled. About 80 buyers' seats were occupied, and there was a large attendance of the public, including the Minister of Lands. Competition was keen from the start, but it appeared to lie principally between Bradford and the United Stares. There was a continuous and spirited fusillade of bids, although the sale opened quietly enough but these two markets absorbed the greater part of the better grade crossbreds and Romneys. Buyers appeared to be generally after these wools, and buying without apparent limits the long deferred but welcome American competition made itself felt. This was attributed by some, who can speak with experience, to the more settled feeling in the United States woollen manufacturing industry now that the Presidential election is over and therefore the existing tariff will remain unchanged. As compared with rates ruling at London sales in Coleman street last month, prices realised to-day are well up, and as compared with prices made in Wellington last March (a high market) they are fully 4Jd per pound better. To value wool sold to ; day at £4O per bale all round is believed to be a conservative estimate. Taking that figure as the turnover for wool at this one sale in the Town Hall to-day the result should be in the vicinity of £280,000 to £290,000 in cash. Some typical prices realised were as follows: —

Three : quarterbred hoggets—3oid to 36Jd.

Merinos —Only a few bales in the sale and 110 buying orders, 28d to 29d. Halfbred hoggets —35:fd. Crossbreds—24d to 2Gd. 27d to 28d, 29d to 30d. Necks—27Jd. Some actual and typical results obtained by growers last year and at this sale were as follows: —

Nov., 1923. Nov., 1924. d. d. 15 26 ■ 12-$ 24i 12j£ 24 14 £ 29 12i . 26i 141 • 26 j 13 23

DETAILS OF ADVANCE. (SPBCIAr. TO "the PRESS.") \ WELLINGTON, November 17. The prices realised at the first wool sale of the season to-day were phenomenal. No one anticipated the increase on the high prices of March last, but to-day's sale showed an increase- of 4d, sd, 6d, and 7d on various qualities.

Never has there been such a muster of buyers in the' history of Dominion sales, or such cheerfulness and. optimism in the buying fraternity. The character of the clip was better than it has beeii for-some- years.- The- bulk of- the -woolwas from the Wairarapa and Manawatu, and consisted of bright Romneys and crossbreds.

It was common to hear 26d and 27d, and at times up to 29d to for best quality of crossbreds running to 46-43 quality. As high as 25d was realised for necks. Crutchingsisold in the neighbourhood of lod for the best.

The following indicates the range, the prices given being to-day's maximum prices and the highest prices' at the March sale:—

Phenomenal Sale. As was predicted in a recent message there was keen competition, and high prices ruled at the opening wool sale here to-day; indeed, phenomenal prices were realised. There had Keen a general anticipation that the market would be favourable to the grower, but no broker, grower, or buyer thought such a substantial rise would be forthcoming. Everyone- was working in the dark as far as values were concerned, and apparently buyers were watching each other very closelv, all being determined to have some wool whatever. The result is that whilst in March last, the lost sale of aiiv iniportance held here, prices were at their peak, and many considered were high enough, to-day's sale has shown advances of four, iivo, six, and sevenpence on various qualities. Practically everything was sold. Buyers were present from all parts of the consuming centres of the world, and many new faces were on the benches, including representatives from France, Germany, and many parts of the Continent, as well as Bradford and I;he States. There never has been such a muster of buyers in the history of Dominion sales. The bulk of the wool came from the Wairarapa and the Manawatu, and consisted of bright Romneys and crossbrodfl. America was predominant in the market for the, best qualities, but Bradford and the Continent were pushing them very hard, and as a result there were some excellent prices for

(Continued at foot ofnext column.)

"Wellington-grown 'wool. As usual, there was some halfbred on the market, and this sold at very high prices, j running t from 33d to That I bringing ■ the latter price came from | the lower Hawke's Bay district. | Good quality pieces and bellies were j being sought for by the local mills, and the Continent was a keen competitor, with the result that some extreme price's were obtained, as high as 2od being paid. Necks and crutchinga were bid for by the Japanese operators, and also by local scourers, and thev sold in the neighbourhod of 15d for the best. There was no lambs' wool to speak of, although buyers for such wool were j present. The season is rather back- , ward' for this class of wool. The wool sold must have averaged about £4O a bale, so that about £290,000 will be the gross result of the sale.

Nov., March, 1924. 1924. d. d. Fine Halfbred— Super 30 ' — Average 33 Medium Halfbred— Super32 '. — Average .. .. 29$ 28* Coarse Halfbred—.. Super 30 .. — Average .. «. 28$ • 23* Corriedale— ■j *. Average .. " , h 30 '' — Pine Crossbred— Super .. .... 29 . 23i Average .. . > 28 21$ Inferior . j' 24* — Medium Crossbred— Super . i ... 27 . 22 Average ,. 26 '20 Inferior ... 22 , 16 Crossbred— Super 25 18$ Average 234 • 17J Inferior .. 20 16* Low Crossbred— * Super 7. .. 23 — Average • .. 214 17 „ Inferior w. 18 . 15 * Hoggets— 48-50 30 . 24* Fine, 46-48 ;. 29J 22 Medium, 44-46 ;. 26i 20* Bellies and Pieces— Halfb'd, g'd to super 27 20J Low to medium 22i 18 Crossb'd, g'd to super 22 — Low to medium 16 . — Crutchings— Medium to good .. 165 i5i Inferior to seedy .. 14 111 Locks— Crossbred 13J 9i