FIRM VALUES.

Manawatu Standard, Volume LVIII, Issue 48, 25 January 1938, Page 5

FIRM VALUES.

AUCKLAND WOOL SALE. GOOD CLEARANCE EFFECTED. Per Press Association. AUCKLAND, Jail. 24. A welcome check to the decline in wool prices which has been apparent since the New Year occurred at the second Auckland sale of the season today. Brokers estimate that prices wore quite on a par- with the average rates of the Wanganiu sale last week, and that, compared with values at the first Auckland sale in November, hogget wools were id to Id higher, ordinary crossbreds also being in sellers’ favour. A preliminary estimate of the return is Odd per lb and £l3 15s a bale, compared with 15-047 d and £22 0s 8d at the second sale last year and 9.37 d and £l3 10s 7d at the first sale of tho present season. There was a good clearance, approximately 90 per cent of the offering of 30,000 bales being sold at auction and part of the remainder by private treaty. On the basis of 90 per cent being sold, the estimated return to the woolgrowers is £371,250, against £613,852 from tho second sale of the 1986-37 series, and £201,700 from the sale in November last year. Competition was keener and better spread than at the first Auckland sale. There was a bench of more than 50 buyers, but the bidding was confined to about six or eight firms representing Continental and Bradford interests. The activity of the Bradford buyers was a pleasing feature and was responsible for the Continent meeting with competition which tended to higher values. Japan and the United States were out of the market. Though keen, competition was within well-defined limits. Fine sorts were not so keenly sought as coarser grades, specially those long in staple, for which bidding was brisk. In several instances coarse, long wool brought relatively higher prices than finer wools in the same clip. The wool on show was much on a par with the usual second sale offering at Auckland. It was inclined, however, to be a shade finer in quality and shorter in staple. Consequently long wools were scarce, and this accounted to a large degree for the higher prices paid for them. GENERAL SATISFACTION. The passings which occurred with monotonous regularity at the first sale in November were comparatively few, though in the later stages tlmre was a tendency for more lots to be passed. There was a clearance of only 58. per cent at the November sale, much of this being sold by private treaty after the growers had realised that they had set their reserves much too high. The growers had obviously decided to meet the market to-day, and reserves were fixed at more reasonable levels. The general feeling among the growers was one of satisfaction at the prices received, it being realised that there was no hope of repetition of last season’s soaring prices. There were a few, however, who had stipulated prices out of all proportion to the market, and in several catalogues good prices offered for isolated lots were refused to the obvious surprise of the buyers. In contrast to the opening sale of the current series, when there was a. crowded gallery awaiting the beginning and anxiety was plain on- cvery face, there were only half a dozen spectators in the gallery at the start of to-day’s sale. RANGE OF PRICES.

Hie range of prices compared with the ast preceding sale at Wanganui is as follows ;

Auckland. Wanganui. Southdown— d. d. d. d. A 11 to 12 B to 101 i Fine halfbred, 58, 56-58, 56— Extra super .. — 16 Super 131 to 14 — 141 Average 12" to 13 121 to 151 Medium halfbred, 50-56, 50— Average 12 to 13 12 to 13 Inferior 10 to 11 91 to 101 Jixtra fine crossbred, 48-50 — Super average 11 to 119 11 to 113 Average 91 to 10J 91 to 103 Inferior 81 to 9i 81 to 91 Fine crossbred, 46-48— Super 10 to 11 101 to 11 Average 91 to 101 91 to 101 Inferior . .. 81 to 91 81 to 91 Medium crossbred, 44-46— Average 9l to 101 91 to 101 Inferior . .. 81 to 91 81 to 83 Coarse crossbred, 40-44 — Average 91 to 101 91 to 101 Inferior . .. 81 to 91 81 to 91 Hoggets— Fine 11 to 12 101 to 111 Medium 91 to 103 91 to 101 Lambs — F ine 111 <° 134 12 to 14 Soedy and inf. 8 to 9g 81 to 10 Bellies and piecesCrossbred ; Good to super 8 to 10 8 to 101 Low to med. 61 to 73 7 to 8 Crutchings— Med. to good 8 to 91 71 to 8 Inf. and seedy 61 to 71 ?! to 83 Locks— Crossbred ... 5 to 6 51 to 6