WOOL MARKET

Dominion, Volume 28, Issue 101, 23 January 1935, Page 10

WOOL MARKET

Disappointment at Auckland SECOND SALE PRICES Superior* Sorts Finn on Wanganui SHABBY LINES ERRATIC By Telegraph—Press Association. Auckland, January 22. Generally low prices prevailed at the second Auckland wool sale. to-day, when about 80 per cent, of the catalogue ot 24,540 bales was sold. An average ot between 5Jd. and Cd. a pound would represent the approximate value of the wool disposed of, which means that the average price a bale was little more than £B. At the November sale an average of 5.628(1. a pound for a return of £7/16/2 a bale was secured, the total realisation on 11,299 bales sold being £88,250. With the disposal of about 80 per cent., the aggregate return for to-day’s auction should be in the vicinity of £160,600, bringing Auckland’s income from wool for the season to about £250,000 compared with £783,149 from the first two sales last season, when the January auction alone brought . m £455,455, at an average price of 12.12 d. a pound and £lB/5/1 a bale. Top price to-day was 124 d. for seven bales of half-bred. ' Brokers’ Report. A report on the sale issued by the Auckland Wool Brokers’ Association states that there was a full bench of buyers representative of all wool consuming countries and local mills. Competition was keen within limits, and bidding at times was animated. As compared with the first Auckland sale prices showed a slight improvement, and all sorts were evenly competed for ' except lambs’, which were not wanted and realised very unsatisfactory bids. Bradford as usual took the greatest weight of wool, and there was good support from the Continent. Germany operated very sparingly. Local ' mills took bulk pieces. Japan was in the market for suitable lines. About 80 per cent, of the offering was sold under the hammer. The range of prices was as follows. November, 1934, prices being shown

for the purposes of comparison:—

BRADFORD’S SUPPORT Trends of the Market Dominion Special Service. Auckland, January 22. A market which was hardly up to expectations compared with preceding sales, and which was only slightly better on the average than that at the opening auction in November, was experienced at the second sale of the season at Auckland. The improvements could be measured only in very small fractions of a penny, and then only in the case of superior lines. Inferior descriptions showed a distinct tendency to ease. Restricted competition from Continental interests was the principal reason why the hopes of growers were not fully realised. The reaction to this circumstance was shown in the number of passings, approximately 20 per cent, of an offering of nearly 25,000 bales failing to reach vendors’ reserves. For most classes of fleece showing any quality prices which were firm on Wanganui levels were secured, but for shabbier and less attractive lots values were extremely erratic. Belly and piece descriptions were inclined to be easier compared with Wanganui rates, although the fact that the colour of the wool was not so good might be held accountable for the movement in this instance. Lambs’ wool, of which there was a fairly large entry, was not competed for as keenly 1 as at Wanganui, and suffered in consequence compared with the values at the first sale in November. Improvement' Only Slight. Improvements in prices paid for superior wools to-day were only slight. Lower grades in many cases were not quite so strong, due chiefly to the fact that there was a larger catalogue and much more of this type of wool on offer. Halfbred wool from Hauraki Gulf islands again ,proved most popular with buyers, while Corriedale and .Southdown lines also attracted attention. Combing qualities of halfbred and Corriedale were sought after particularly keenly, and clips which had been well skirted and which showed attention to “get up” always elicited keen bidding. The top price of the sale, 12Jd., was paid for seven bales of halfbred sold on behalf of Mr. W. J. Connell, Waibeke Island. Top price at the first sale in November was 15(1., paid also for Waiheke halfbred fleece, but at the second sale last season, when the market was at the height of the period.

of recovery, the best price was 24*1(1., paid for a line of Southdown wool. A bench of 50 buyers, fully representative of the world’s consuming centres, was present, but with bidding confined to about half a dozen operators, with one or two others coming into the market only occasionally, the spectacle was not a particularly encouraging one from the growers’ standpoint. The sale certainly had its moments of animation, and raucous shouting, combined with emphatic gesticulation, gave spasmodic point to the fact that wool still had its buyers at a price. Inelastic limits, however, were the order of the day, and the occasional liveliness of the sale could be attributed to the anxiety of buyers to acquire wool in an evenly-balanced. market. Brisker scenes were witnessed during the disposal of the third catalogue. Here, however, the story was simply one of quicker tempo in selling rather than an increase in demands from the bench, and the level of the offers did not show any improvement. Passings Heavy. The percentage of passings was uniformly heavy throughout, indicating the addition of still another disappointment to the woolgrowers’ experience, although in this aspect the sale contrasted markedly with that in November, when in the earlier stages especially vendors who met tiie market were in a distinct minority. Whatever strength the market had to-day it owed to Bradford operators. These buyers took the bulk of the offering of better-style fleeces, sharing a certain proportion of them with Japa- j nese representatives, who operated with j freedom when suitable lines were for- I ward.

Continental interests were quiet, France as well as Germany offering little competition and taking only odd lots. French interests centred chiefly in piece descriptions, with an occasional bid for fine fleece, but while German competition was more pronounced than at the opening sale it was not anything like as strong as it has been at recent auctions in the south.

Australia was in the market fqr lambs’ wool, and local buyers secured a large proportion of piece lots. A clip which was unusually light in grease proved to be generally attractive from the buyers’ point of view. The offering, however, included fair percentages of tender wool, indicating a check as a result of the recent climatic and feed conditions.

JAPAN’S INTENTION

More Wool From New Zealand

STATEMENT BY BUYER

(Received January 22, 11.10 p.m. i Sydney, January 22.

A Japanese wool buyer, Mr. T. .Saito, who returned to Sydney to-day from New Zealand, after attending the wool sales there, said that Japan in future intended to buy more wool in New Zealand, because that country showed a desire to trade will) Japan, which was buying only New Zealand fine wools al present.

Experiments, however, were being carried out with a view to dealing with coarser types of New Zealand wool.

•Tan., 1935. Nov., 1934. d. d. d d. Corriedale: Super • to 12} 91 8} to Ill Average ..••••• CfniiHwInwn ........ 91 to 8 to 191 12} to to 101 10} Medium half bred, SB’s: to 11J ■ ' Average Oi to 7 to 101 9 9 Ci to to 10 81 Coarse halfbred, 50’s Super 84 to 10 8 to 9{ 81 to C to 10 7 to 71 ■ Inferior 7} 6 to 6} Extra tine crossbred, 48/50 8 9} Snpnr 84 to 10 to Average 7i to gl 7 to 71 Inferior 6 to 71 (j to 0} Extra fine crossbred, 48/50 to 8} Super ......... 7? to f) ■ 71 Average 6i to 5 to 7J (i 6 41 to to 5} Fine crossbred, 46/4S: 6} Su ner ......... 7 to to 4 Average 5} to 6} 5} to 61 Inferior 5 to 4} to i> Medium crossbred, 44/40: 61 Super Average fij to 54 to 7 0 • 6 5 to to Inferior 4i to oi * 3 to 4 Coarse crossbred, 40/44: 5J to G to .)., Average 4-j to 51 4 to .4:1 4 to 44 3 to 3} Low crossbred, 30/40 Average 41 to 4 to 5 4 to 4J Hoggets: Extra super half111 bred to Ilalfbred ...... 9 to 11 — 7 to 9 81 to 9 Medium 0 to 8 7 to 81 Course ......... ■5 to f 51 to Cl Lambs: to —— Fine. 46/40: 5 to 81 Cl to 8} Medium. 44/46 ... il to fii 3} — Seedy and inferior 3 to G to 1»1 Crossbred bellies anc pieces: 41 Good to super • - 4} to 51 to Low to medium . 3 to 4 3 to 4 Ilalfbred bellies and V. pieces 6 to 8 — Crutcliings: Medium to good . 4 to it 4 ■) to 5 Inferior to seedy Locks: 21 to 4 3 to Crossbred 2 to 3 to 21