WOOL SALES

Hokitika Guardian, 26 November 1930, Page 6

WOOL SALES

GERMANY BEST BUYER." (By Telegraph—Per Press Association AUCKLAND, November 25. - Very low prices ruled to-day at the Auckland wool sale, the first of the Dominion series. One particularly noticeable feature was the remarkable caution with which• the Bradford interests operated. In-»' deed, most of the competition in that quarter came from the one firm. The Continental buyers were the backbone of the sale, it being now understood that a great proportion of the offering is destined 'for the. German market. There was a representative bench of buyers. The prices, on the whole, were less than half those realised a year. ago. The average of £ls 9s a bale, then achieved, fell, at the success've land sales to £lO 5s in Febraury/and 1 ' £8 18s in March, while it is probable that to-day’s avearge, reckoning 340 lbs to the bale, would hot be’ much above £6. Approximately 20,300, bales were offered, including 400 bales held over from la?t. seaaqn.Seventyy per cent of the offering was sold. The following official range of prices,for ,t.9r. day’s sale was supplied by the, 4fijckland Wool Brokers Association, the comparative prices at the. first sale last year being obtained from the offiial range then given by the.... Association, and this year’s prices bey, hg.mentioned first in each case:— ~ |,t , Medium ha If bred (50/56): .sup,er ; ,6’d, to 7d per lb, 14d to 15*dj average,.ojd to 6d, 12d to 13’d. Coarse half bred , (48/50): super (id to 7d, ,I.2jd ;to<l3£d-,; average 5d to s|d, lid to .12d. >lnte.ri->-or 4d to sd, 9fd to IOJd. Fine crossbred (46/48) super: 5-Jd to: (sid, 12' to 13id ; average 5d to SRI, 10; { d to 12d. Inferor 3ifd to 9d to 10id. Medium crossbred (44/46) :• super 5d to 5Jd, 11 -4d to 12-id, average 4db-to-4jjd, 10-Vd to Hid; inferior 3i to 4d, 8i to lOd. Coarse crossbred (40/44) super 4id to sd, lid to 12d; average 4d to 4id i 9|rt to lOifd; inferior 3d to 34d; (id to 94d. . ■ ! ' ' Bow crossbred (36/40): Average 4d to 4i, 9i to lOJd; inferior 3id ito 4d, 7-id to B£d. Hoggets: halfbred Bid to /i; fiae,> 5i to 6id, 13d to 14d; medium 5d to 6d,'T2d to 13d; coarse 4d to sd, llid; to 12id. Lambs; fine (44/50) 5d to 6d ; medium (40/44) 5d to 6d ; v seedy and inferior Id to 3d. Bellies and pieces: crossbred, good to super 3d to 4*d,'Bd to 9*d ; low*-to ■ medium Id to 2|d, 6i to 7|d. Crutchings: medium to good' 2i to 3Jd,' 7d to 8i; inferior to seedy, Id to 2d, 4-id to 7d. Locks, hrosSbred'told ; 4j}d to 7 id. \ 1 LOW PRICES EXPLAINED. MR FORBES’S "DISCOVERY; ; : ) LONDON, November Gloomy prophecies in connection with the opening of ?.ealand_ wool sales, were madp at f,the. Lord Mayor of Bradford’s luncheon- in honour of Hon. G. W. Forbes. Mr George Whitaker (President of the British Wool Federation,) said that it did not require any great, stretch j|Ofl tion to prophecy that the in New .Zealand would opeiVoiW. bjhsfs unprofitable to the farmers, j (■, ~x . Mr Forbes said that;(tlie'only jmjqiid policy was to meet the inarkqt, as the holding over of an ' acoiiniulatiphof wool only disconcerted y the. rnarkiet. He said tliqt his J.a;h Bradford had showed the’ probability of a poor opening for the Netv Zealand sales. He did not knowjiow the people of New Zealand would take- it-; but lie hoped that they would realise that; it was. unavoidable. While he recognised Bradford’s difficult position, said the New Zealand Prime M'nister, lie would point out that Japanese aneLGontinental buyers were -already in.;- Zea i: ; land, and- were ' particularlyrsonally, he believed that '-wool prices had now reached -rockbottom, and that they would soon begin an upward move. He appealed for more optimism, as a recovery depended on confidence. ... . Mr Forbes, during the day; inspectecl the Technical College and ~said thqF* it was an eye-opener to, hhvrii of the research work being undertaken to enable tlie wool industry to progress. As the result of bis visit to Bradford, be would return to New Zealand with 1 a greater knowledge of what wa«,.reqimed on this side.

Mr Forbes bad several’ rtiilks. with the leaders of the industry relating ter New Zealand wools. - ,;i