THE WOOL MARKET.

Taranaki Daily News, 27 May 1921, Page 5

THE WOOL MARKET.

THE WELLINGTON SALES. A SATISFACTORY CLEARANCE., PRICES BELOW JANUARY. By Telegraph.— Press Asevcntuuu. Wellington, Last Night. More than usual interest attached to Ihe Wellington wool sales to-day, because they were the first held in the Dominion since the decision of the Producers’ Conference to postpone all sales, and because they afforded some idea of the present market price of wool after taking into account the vast quantity of accumulations. There are over

730,000 bales in the Dominion alone, of which more than half is free wool, the remainder being wool purchased by and held for the Imperial Government. Buyers attended in full (force, and represented all the markets—Bradford, the Continent, American and Japan. Bradford bought extensively, and France was also active, but America was not keenly interested. Fair buying orders were held for Japan. Shortly after the sale opened it became evident that buyers were satisfied that growers’ ideas of value were more in line With the parity of the last London sales, and a large number of buyers who had limits on about the same basis operated with much more confidence than has been noticeable since January last. The result was a generally satisfactory clearance of the catalogues, the majority of the auctioneers stating that they sold almost 80 per cent, at auction! at prices well above the London parity Bradford was keen to obtain top-making wools, of which there was a very good range open for selection. Much interest was also taken in a rather limited number of lots of short, fine wook suitable for the Continent. Buyers held a fair number of orders in hand foi these classes of wool, and competition was keen.

The range of values ‘on the whole was satisfactory. There was some inquiry for fine Romneys for America at 6%d, the highest price being 7sd. No good merinos were offering, but 9%d to was obtained. No half-bred supet wtis offered but medium reached B|d. and inferior 7£d. Half-breds made up to 9sd. There was good inquiry for the better class of lambs, but it was noticeable that the demand for these came from overseas’ buyers. Prices ran up io Bd, New Zealand securing a fair proportion. The prices generally were Id to lAd per lb below the rates ruling last January sales. The range of prices at both sales is as follows:

Jan. 1921. May 1921. Pence. Merino . 13 to 14% 9 to •K Southdown 1054 to 12 10% to 11 Half-bred super .. 12 to 14 Half-bred medium 9 to 11% 7% to 3% Half-bred inferior 7 to 8 6 <0 7% Crossbred super .. 10 to 11% 6% to 6% Crossbred fine .... 8 to 10 5 to 6 Crossbred medium 6 to 8 3% to 4% Crossbred coarse.. 4 to 354 3 to 354 Crossbred inferior and seedy 3 to 4 254 to 3«i Crossbred bellies pieces & 2 to 5% A to 3% Half-bred bellies pieces & 4 to 6% 3 to 454 Locks ... 1 to 2 1 to 154 Crutch Ings 1 to 2 Lambs, best 10 to 12% 7 to 854 Lambs, medium .. 7 to 9 5 to «54