STILL RISING.

Hokitika Guardian, 21 January 1922, Page 1

STILL RISING.

Healthy advance in wool

united states bUaers again SECURE BULK OF LOTS.

WELLINGTON, Jan 17

Twenty thousand bales of wool —30 per cent, higher than Were offered at the December sales—were ptit on the auction block at the Town Hall yesterday. The sale was held in the main hall, and! there whs a large attendance of the general public in the galleries. There was ah amusing interlude a noon. The Springbok athletes arrived, bound 1 for the civic reception tendered them bv the, Mayor. Without a guide they entered the main hall, and as none of them had been at a wool sale before, they judged from the medley of cries they heard! that they were in for an original type of reception. They were quickly assured, arid led to the concert chamber.

NINETY PER CENT. SOLD

Ninety per cent, of the wool offered •

vas sold. It was of good all-round average quality, and showed that the rowers are accepting the advice ten--4 \red them by American buying interests that wool intended for the United States should he well' skirted.AMERICA DOMINATES MARKET. American'buyers again practically dominated the sate. That country took all the super-Romneys on offer. They were also keen competitors for good '■■asses of half-hreds, and their Hurtwere sufficiently high to secure the parcels from Dominion mills. Superior hogget wool also found a ready sale with them. Bradford buyers were operating animatedly, arid frequently beat the Continental buyers for wood lots. There was very little indication of German buying, although it is difficult to measure th e extent of Germany’s operations until the actual shipping instructions are received.

FRANCE A KEEN BIDDER. France was a keen bidder for the Lest half-bred pieces. But the Continental competition was not so strong as p t the previous sale. Japan was in the market, as usual for medium to good crutchings. Dominion mills were ••erv eager to sectir P all merinos offering arid wore often in conflict with France for. parcels of snper lambs’ wool. HEAT,THY RIPE TN PRICER. In the prices realised, farmers benefited by one farthing pep pound, reduction in te oversea freight. Merinos were aborit on a par with the December sale? averaging 7jd. Average halfbriedß rose up to a hrilf-penny a pourid, fetching to lid. There was a fairly sharp rise iri coarser halfbreds, the best of which went to Arriferica; prices were a halfpenny better, extra super , lots appreciating a penny. In the medium CoarsChreds Bradford competition warf very keen, and the rise was a halfpenny to thbee-farthings per pound. Coarse crOssbreds rose to a halfpenny abAve December values. Here again extra super lots were better* showing at times a rise Of 13d. Low coa.rsebreds were not eagerly sought after, but prices averaged to a lvalf-penhy better. ’lnferior crossbreds showed the least rise, prices being on a par frith last sale merino showing a slight fall, and half bred a rise up to a penny. Cru tellings showed a slight improvement, arid lofcks were norinal. CONDITIONS AT BRADFORD.

Mr Walter Hill, president of the New Zealand Wool Buyers’ Association, was present at the Bale. During his repent world tour, he spent much time in English. American, rind Jnpnriese wriol centres. Spoken to in regard to thfe rise in prices shofrn at the Sale, he said he was at a loss sritnewhat, to explain it. The fall in the freights wriuld account for portion of it, hut there w’as nothirig to warrant it in conditions ns ho found therii in Bradford. The manufacturers there frerip faced with the difficulty of bavin, ' a demand that ■ was only a quarter of their output, and they were endeavouring to improve their export trade. Tho prices realized would indicate that the trade had increased materiallv, hut he was not aware of this. Whether the prices were due iri some measure to speculation, he could not sav,, but the result h as very gratifying to growers. AMERICA AND WOOL TARIFF.

American buyers, questioned in regard to the extent , of their recent operations'at tho wool sales, explained that it was simply a matter with them of getting wool to meet the demand in the States. America, was prndu ing but half their requirements, and large quan titles of Australasian wool particularly Australian meHUo, were being purchased. Speaking of tbo recent For fluey tariff of sixteen cents per pound, which was an increase of 50 per cent, it was explained that this was portion of a, tariff designed to produce revenue. There was a. strong feeling, however, that tho old tariff oni the wool would he revortel to. In the meantime, no immediate injury was being done to New Zealand growers’ interests as the prices at the Wellington sale indicated.

BTG IMPROVEMENT IN CANTERBURY. CHRIStCHURCH, Jan. 20. The second wool sale of the season opened this morning, and continued till it p.m., when the buyers adjourned rill to-morrow morning. The catalogue cOriVprised 20,500 bales. The woo] go her.ally catalogued was not up to the condition of the previous sale, a fair proportion being on the seedy side, and lacking lustre. However, there was some very choice clips of half-brod and Corriedale wool forward, the improving tendency at the earlier markets this year was fully maintained, and a most spirited sale resulted, there was an all-round improvement, it being quite the best sale since the resumption of the auctions, Only a

few lots in each catalogue were passed Local mills' operated keenly for all fine wools, but competition from Bradford was uiucb stronger than at last sale, and a good percentage of highpriced half-bred was sold for Home consumption. Ariiericah buyers were also much more, actively engaged in the market, and some poor Wools went that way. The catalogue of merinos wias small and it sold at ljd per lb. better than last sale, tho bulk going to local mills. Top merino price was 19J Good hal-bred wools sold excitedly, the rise was from 13 to 2d. The top* price was 173 d per lb, but the bulk of the entry of super half-breds averaged from I4d to 153- Home buyers paid up to 17d, and a number of lots at 15d also went to them.

New Corriedale figures were set bales of the Rakihuri clip selling at 20d, nine at 193 d, and 19 at 18)d. These went to an operator for outside houses, and will probably bo for American consumption. Super Corriedale was up 13d to 23d per lb. Super three-quarter bred sold better by about I'd than at last sale, and averaged from 9d to 10id. The pleasing feature of the market was the improved demand for crossbred of all classes. Medium 40-46’s were up from Id to 13d on the December sale, and coarse by about Id. The poor'prices that the latter class lias met since the slide were refreshingly absent to-day. The demand for scouring wools was unexpectedly keen, being from 13 to 3d better for merino and halfbred. The mills competed spiritedly for these,

Tire following is the range of prices: Merino super 16d to 19'-, medium 14d to Isi?d, inferior 113 d to 133 d; halfbred, super 143 d to 173 d, medium 123 d to 143 d, inferior 9d to 123; Corriedale super 15d to 20d, medium 103 to 143, three-quarter super 9d to I3ld, medium 71 to 83d. inferior 5d to 63d. Medium crossbred, super 73d to 111; medium 61d to 7jd, inferior 43d to sid inferior morino pieces lOd to 15d, halfbred pieces 9)d to 12d, second halfbred pieces 5 dto 83d, locks 3d to old, necks 5d to 9d, crutchings Ud to s|d.