Wool Prices Overtake Lift In Exchange

Chronicle (Levin), 8 December 1948, Page 7

Wool Prices Overtake Lift In Exchange

WELLINGTON, Dee. 7. Prices paid for wool olfered today at tlie first Wellington auction ox the eurrent season, appear to have niore than compensated for the adjustment in. local prices following the return of New Zealand currency to parity with sterling. Oompared with last season when the exchange rate was opei'ating, these represent an increase of over 20 per cent. Animated conipetition, vvith the Continent doini'nating the market, partieularly for fine wools, continued throughout the sale. The United Kingdoin operated within restricted limits and buyers for American and Canadian interests were in the market for well grown coarse vvools. Since the. lirst main wool sale at Auckland ou November 22, prices have become progressively lirnier. Although prices at the Auckland sale and at Uie subsequent saies at Napier and Wanganui liardly overtook the 20 per cent. discount due to tht> exchange adjustment, bidding at today 's sale indicated that this has been overtaken. In addition to 30,275 bales of the new season 's clip, close on 500 bales were offered from the surpius wartime stocks lield by the Wool Disposal Lomimssion. liaving regard to the time that has elapsed since these clips were shorn, these opened up very well. The otl'ering was comprised mainly of Wairarapa and ALanawatu woois wito also a tew clips from Nelson and the' bounds. A proportion of the hogget ! wool was sliglitiy tender, but the wooJ o\er all opened in very good order, neiug ox good coiour and lJg.it in condition. Buyers showed keen interest with animated conipetition for linejqualities. Conipetition was well spreau and practicallv tlie whoie of the oliering was sold at auction. fhe following is the ohicial range oi prices: — Southdown: Good to super, isd to -±9ftd ; good, 46d to 47:2d; average, -iUil to 44d; inferior, 30d to 38d. Pine JDown cross: Good to super, to 4(i;jd; good, 39d to 44d. Tine crossbred: Extra super to 49 (J ; good to super, 27d to 31d; good, 250 to 2(ild,- average, 23d to 24Ad. Medium crossbred: Extra super to 40 [d; good to super, 27d to 31 d; good, 25d to 2(i;jd,- average, 2Id to 24d; niferior, 13d to lSd. Lincoln: Good, 28d to 30d. Fine crossbred hogget: Extra super to 48jjd; good to super, 3Ud to 32.UI; good, 27d to 29?.d; average, 24d to.25]d; inferior, to 22id. Fine crossbred hogget (shorn): (food to super, 35d to 36id; good, 27d to 34d; average, 24d to 2(5jd. Aledium crossbred hogget: Extra super, 301d; good, to super, 27d to 28d; good, 25d to 26id; average, 23d to 241d. " Crossbred necks: Good to super, 27(1 to 31d; average 23d to 2(5d. Fine cross or three-quarter bred pieces: Good to super,. 22d to 25(1: average, 19d to 21:jd; inferior anu seedy, to 16d. Crossbred pieces: Good to super, to 21d; average, .19(1 to 20jd; inferior and seedy, 13d to lGd. Crossbred bellies: Good to super, 19d to 2 1 d ; average, 17d to 18jd; inferior and seedy, 15id. Crossbred crtitchings: Good to Sshper,1 24d to 28d: average, 19(1 to 23(1; inferfor and seedy, to 15(1. Crossbred locks, 12(1 to 1 5{d.