SUBSTANTIAL RISE

Hokitika Guardian, 26 January 1933, Page 6

SUBSTANTIAL RISE

PRICES AT GILRISTOHUKCK WOOL SALE.

EFFECT OF EXCHANGE INCREASE

(Per Press Assentation — Copyright.)

CHRISTCHURCH, January 25

A substantial rise in the price of woo], as expressed in the present N e 'v Zealand, currency, wa H a feature of the second .Christchurch wool salw, n \v ( |iich opened i m the Caledonian HajJ yjhis a before a full bench of buyers. Thd increase in price was a direct rebuilt of jthe increase of 13,1 per c,c-nt, in the*’ exchange rate. New Zealand on London.

On the opening catalogues ihalf-breds and fine eroxs-breds showed a rise of from ’ f d to Id per Hi, in addition to the effect of the exchange rate. Coarse wools, anything below 46\s, -showed scarcely any improvement apart from the increased exchange.

Th e rise in the finer -wools was of from ltd to 2d per lb, including exchange, the pegging of which represented an advance of about Id in Bd, or about 27s per bale more to farmers. The finer wools averaged about lOd per lb, giving the farmer an exchange advantage of approximately 1 : \<J per lb. Bradford was quiet o\-o r the <*ar]y stages, but tf>,(» rc-st of Die buyers were keen |u the bidding, and the lots were well distributed. The public gallery was thronged with farmers and townsmen.

Fin e wools comprised the bulk of the offering, with coarse wools less in evidence than is usual at the second sale of the season. The clips generally wei'p, in fair order, though the dry winter was responsible for a certain amount of dust and yolk stain in the wool. The usual large number of show clips were forward and upheld tbe reputation that the second Christchurch sale has gained a.s being the on# >i t which tbe choicest of New Zealand fine wools are put before buyers.

As wag th 0 case wiin the first Christchurch sale, the allocation of 25,000 bales was filled.

Passings were practically negligible representing only 38 bales out of 1042 offered in the first catalogue. The second catalogue, which was very much larger, started with bidding generally well within .sellers’ limits. There was a keen demand for halfbred pieces, ci'utchings, locks and bellies, price? in some instances equalling and even eclipsing tbe prices offered for many fleece wool lorn. There was a very keeps demand for all .classes of Corriedale wool, whether fleece or pieces.

Tbe to price up to 4 p.m. wns 14-}d per lb, obtained for four bales of -super Curried, ale..from IRydal Downs. Eight baler? of Corriedale from the same,run brought 14d.