OPENING B1DS 50 P.C. DOWN ON LAST NOVEMBER

Hawke's Bay Herald-Tribune, Volume 81, Issue 55, 27 November 1937, Page 5

OPENING B1DS 50 P.C. DOWN ON LAST NOVEMBER

-Press Association.) • %

FIRST AUCKLAND, W00L SALE Bulk of the Early -Catalogues Passed 1

/By Telegrapk-

AUCKLAND, This Day. Auckland 's first wool sale opened tliis morning to a full bench of buyers, with the prices off ered anywhere from 50 td 60 per cent. below last November's rates. The prices* were not accepted, and the "bulk of the opening eatalogite is being passed. For hogget wool, about an average oi lOd. is being offered, and for super half bred hogget 16d. was bid. Last year's average price for all hogget fleeces was just over 14d. per lb. Neither the Japanese nor the Americans appear to be operating- • • I . . Great interest was displayed in the sale, as it was looked upon as a guide to the values during the coming season. Much of the interest was due to the faet that the tone at the recent London saies has been uncertain, buyers waiting for a lead from, the Dominion series before fixing their standard of values. The wool off ered at the London auctions was all old Season 's sttpplies, and New Zealand has the advantage of presenting an entirely new, clip, as a complete clearance of stocks was made last season. The clip off ered at to-day 's sale was in good condition ftnd brighter than usual.

"Sorry, gentlemen. Thanks for your oifers. Glad. to se© you again in January.'' This epitomises the attitude of Auckland woolbrokers to buyers at the first of the season's wool saies in the Town Hall to-day. Qf the first catalogue, fully 75 per cent. was passed unsold, a complete contrast with the scene a year ago, when a full clearance was made at prices showing a 50 to 60 per cent. rtse. To-day there was a tense atmosphere as buyers, brokers and spectators assembled. T e buying bench of 70 was the biggest yet assembled at an Auckland sale. Spectators filled the gallery to overflowing. Everyone seemed prepared for a fall in prices, but there was ah apparent reluctaHee to face the musio entirely. A new level of prices was being created, and with the world' s mark'et in a topsyfcurvey state everyone was jn the dark as to how the values would go. Quite early it became apparent that the sale Mwas proceeding better than 'many had feared. The Oontinent came in brightly from the start, and, although there was hesitation in regard to occasional lots, most of the offering elieited keen bidding, albeit at piices below vendors' reserves. Of the first catalogue, about 25 per cent. was sold. The balance will be treated for privately or will await the January sale. Values in the opening catalogue appeared to show a 50 per cent. drop on the rates made last November, but even at the reduction they were well above the rates ruling in the depression years. The first catalogue, of 566 bales, was dealt with in less than an hour. Auckland *s clip came forward in excellent condition. It was very much finer than last year, many lines being over 50 ;s quality, and this accounted for the special interest shown by; Continental buyers. Prices wer.e fully 50 per cent. down ou those for the first catalogue last November, but were better than expected. But for the Continental bidding it would have been a dull sale. There was a large percentage of hogget wool, which was very fine and practically all carding wool, deep hoggets being practically non-existent in the offering. The total catalogue was 25,000 bales. At the luncheon adjournment the market had shown no alteration from the rates ruling earlier. The bidding was still keen at lower levels, and the brokers were passing about 75 per cent. of the offerings. . PricCs were as follow:— ■ Super half bred and Corriedale: Up to 16d per lb. Hoggets: 50 's to 52, lOd to 10|d; 48 to 50, 9^d to 104d; 46 to 48, 9d to lOd. Lambs: 8d to 124d. Cfutchings: 64d to 9d. Bellies and pieces: 6d to 84d. Locks and pieces: 4d to 54d. As each catalogue was disposed of, negOtiationa were comnienced by the brokers with the farmers who were in attendance. Some satisfactory dealls are feported.