WOOL MARKET

Rotorua Morning Post, Volume 3, Issue 704, 2 December 1933, Page 5

WOOL MARKET

(Press Assn.-

[Sji^PIER g^UE PRICES^ SLIGHTLY' LOWER THAN-AUGRLAND RATES good competition . ' ' • . - i _ * .

-By Telegraph— Copyright).

Napier, Friday. Prices ' were slightly down in leVel on1 Auckland for' lower" gfade's * and 6ri a'p'ar iff 'sup'eir gradels a't the openiiig w'ooi sale' held 'at' Napier to-'day. The 'slight - 'decr ease''in"! ihe level was iiot aitogeth'e'r a SUrprise" to' hiost growers. It tVas due' to the fact'th'ai -Hawkes Bay' wool does' n'ot"supply th'e samb-'amount of fin'e halfbred" woO'I, b'uv ahbunds ' iri fine' irm'edium - ahd 6'6'arse crossbreds. " Taken - * '-'oft 'thb whole pri'ees' may' be shid'-tb be" 95 to 100' pei"' cent bettet thah-'they -Vere at the March sale ■' at "the ' end- 'of -th'e liast selling season.- 'Compared-- with the' rates Which were ruling ;-at ;the Deeember sale for the Havtfkesv- B&y distri'ct, values on" average- "to good wool show an advance of -8d to 9d • on 50/56, ■ 8d to-9d:;on 48/50, 6dito 7d-on- 46/48j 3-M *to -4Jd on 44/46, and 3d to 4d- on 40/44. - r Right- from the start of the sale it was evident that the contineftt was going to -absorb a'greater proportion of 'Hawkes Bay clip than at Auckland. * ■ • - - • r - » Bradford was well represented among a large bench of- 70 buyers and bid steadily on all classes of wool! Buyers rates were not so elastic as "at Auckland 'but the bidding Was steady and maintained throughout the coiirse of the sale. ' ' ' New Zealand mills 'piirchased all classes of wool although they did not feature 'to any great " exte'nt in the buyin'g. A feature bf'the bidding wa'S the - low starting prxcfes which advanced rapi'dly up 'to 'buyers "limitg', some: offerings starting at sixpenc'e and' finishing' at a shilling and -overl No spectacular prices were 'paid and it was evident tbat buyers were bidding '-low starting prices in 'the '-hope that they would be able to: secure offerings at below market rates, but-no oppoftunities were:missed,and where bids fa-iled to realise brokers' valua^ tions, offerings were passed .in.UOnly a small percentage failed : to reach valuations and in many cases valuations were. exceeded. Rises- of a halfpenny were common on good types of wool. v Improvect Glip The quality of the clip showed an improvement and .in the quality of top lines, -this being favourably commented upon by several -buyers. The fact that there was less hairy woo-1 included was also praised. No deterioration was noticed in the bulk of the held over wool and an anomaly existed in that some h'eld-over clips realised better prices than new Wool from the same vendors. It is pointed out that to-day's sale gives a better indication of the season's reali'sations in the' cdming season than Auckland, as values to-day were morb steady and in the opinion of several brokers represented a truer statement of the wool market. A conservative estimate of the rise on the 'March values was of 90 to 95 per cent, this indicating that the return to norma! prices will he on a mere steady basis. ; ■ - : •The official range of prices was. not available to-night owing to the ' fact that the brokers do not meet until tomorrow. "