Spirited Bidding at Christchurch

Hawke's Bay Herald-Tribune, Volume 81, Issue 68, 13 December 1937, Page 7

Spirited Bidding at Christchurch

to-day's wool sale Values Better Than Expected PASSINGS FREQUENT (By Telegraph— Press Association.) CHRISTCHURCH, This Day. Values exceeded exp.ectations at the first Christchurch wool sale to-day, when there was free and spirited competition for all classes offered. The total entry was nearly 4000 bales fewer than the 28,000 bales allocated for, and this no doubt helped the demand. A noticeable feature of the market was the comparatively small difference in values for spinning and weaving wool. Values for fine halfbreds were about 5d to 6d per lb less than at the cor: responding sale last year, with medium grades lower by 3d to 5d per lb. Crossbred wool was affected to a lesser degree, extra-fine grades being down about 3^ d to 4d and fine crossbreds to about the same extent. New Zealand mills were actiy" and bouglit a good proportion of tha'offering that met their requirements. There was little or no Japanese competition. The most spirited bidding came from Continental buyers. Germany was particularly active, and, with France, dominated the market. Bradford was not partieularly prominent. The bulk of the offering was small lots, and contained the usual big proportion of hogget wools, among which were some of the finest lines offered. Passings .over the early stages of the sale were fairly frequent, buyers evidently placing too much reliance on the market. In one or two cases, practically whole clips were unsold. The best price during the morning was 20-Jd, paid for four bales of extrasuper halfbred ewe wool. The best price for Corriedale wool was 194d, this price being realised on seven bales of Rakahuri ewe, Other lines of ewe wool in this clip made 18Jd and 18|d. A line of four bales of super halfbred made 193d. Following is a range of values: — d d Merino — Super — to 17 Medium 14 to 153 Inferior 12 to 133 Halfbred — Extra-super — to 203 Super 15 to 16$ Medium 133 to 15 Inferior 123 to 123 Corriedale — Extra-super — to 19$ Super 16 to 18 Medium 133 to 15 Inferior 10 to 123 Crossbrcd— • Super 11 to 123 Medium 93 to 103 Iuf erior 8 to 9