Wool Values Penny Up on Auckland

Hawke's Bay Herald-Tribune, Volume 81, Issue 65, 9 December 1937, Page 9

Wool Values Penny Up on Auckland

- l'ress Association )

WELLINGTON SALE Many Sellers Await a More Favourable Market CONTINENT ACTIVE

(By TVIeuraph -

WELLINGTON, Last Night. . The Wellington wool sale, the first of the 1937-38 season, started promptly at 9 a.m. to-day. There was a full bench of buyers and all consuming , countries were well represented, and considerable animation was displayed. The offering was 20,500 bales, although the quantity allotted by the New Zealand Wool Committee for this sale was 30,000 bales. Even though the offering was cut down, yet in the earlier catalogues passings-in were frequent, indicating that some sellers were prepared to wait for a more favourable turn in the market. The demand early in the sale came mainly from the Continent, which was an eager buyer for all lines, but the few lots of lambs' wools offered were not keenly competed for. German de- • mand came as a welcome surprise. There was a large attendance of the gnblic, and the proceedings were watched from the galleries with the closest attention. The wool offered was described by those competent to judge as rather tender and much lighter in weight than that sent into the ... December sale of last year., This condition was attributed to the sheep not having done so well this year, partcularly in the Wairarapa listrict. But, according to judges, the tvool was generally in a better condition than that sent • into the recent Napier saies and accordingly it commanded better values. Demand was for strong wools and ono line of such wools, B ewes, made 14d per lb. Not until all prices are in and compared will the advance be known, but it would appear safe to say that prices In Wellington to-day were ld per lb. better than Auckland and a full 4d, perbaps jfd, above those at Napier for similar lines of wool. Bradford gave strong support to the market, but the Continent,' especially Germany and France, was an eager competitor. Japan, so far as was ascertainable in the room, was a spectator. Purchases for the United States were understood to be of small dimensions. Canada was believed to be buying. New Zealand manufacturers bought sparingiy. The sale turned out to be far better than local brokers expected in face of the weakness in the world 's market for crossbreds. At the first sale held in Wellington last year fine crossbreds, 46 's to 48 's, ranged from 12d to 14d for inferior and from 14d to 16M for average; medium crossbreds, 44 's to 46 's, sold at from 12d to 15d for inferior and 14Jd to 16d for average; coarse crossbreds, 40 's to 44 's, realised 12|d to 15Jd and average 14d to 164d, while low crossbreds, 36 's to 40 's, sold at 13d to 15d, the average making 14Jd to 15§d. But the demand at that time was for the strong rather than the fiher or fihest wools, which were then xelatively cheaper. These prices averaged for the first Wellington sale of last; year may be found of interest in comparing prices to-day with what they were a year ago. In any case, the tone of the market to-day was encouraging and indicated an improvement in, values for wool' upon those which appeared to be set by the realisations at the Auckland sale, with which the New Zealand season ,opened. The offlcial range of prices is as jfollows: — Merino (64/70-60/64): Extra super none, super none, average 124d to 14d, -Inferior 11-Jd to 12£d. Fine halfbred (56/58): Extra super jnone, super 131d to 154d, average lljd jto 13d, inferior 9d to lljd. Medium halfbred (50/56): Extra super none, super 12|d to 13$d, average jlld to 12id, inferior 9Jd to lld. Extra fine Xbred (48/50): Super 12d jto 13Jd, average lOJd to I2d, inferior j9d to 10|d. ■ Fine crossbred (46/48) : Super • ll|d [to 12|d, average lOd to lld, inferior 9d ;to 5|d. Medium crossbred (44/46) : Super ll$d to 13d, average lOd to ll£d, inferior 8|d to 9£d. Coarse crossbred (40/44): Super lld ,to 12Jd, average lOd to 10Jd, inferior 8id to 9Jd. Low crossbred (36/40); Super none, average lOd to lOfd, inferior none. ' Hoggets: 48/50 lOd to 13id, fine 46/48 lOd to 12£d, medium 44/46 9Jd to lljd, coarse 40/44 none, low 36/40 none. Lambs: Down 50/56 12d, fine 44/50 10|d to ).4Jd, medium 40/44 none, seedy and inferior 6fd to lOd. Bellies and pieces: Merino good to super 9d to lOd, Merino low to medium none, halfbred good to super 9Jd to lOd, halfbred low to medium 6d to 9d, crossbred good to super 8Jd to 10$d, crossbred low to medium 6d to 8£d. Crutchiugs: Medium to good 7|d Is 19id, inferior and seedy 4fd to 7d. Locks: Merino 5^d to 6^d, halfbrafi j5d to U A! i-rossbred 4^d to 7Jd