WELLINGTON WOOL SALES.

Wairarapa Age, Volume XXXI, Issue 9031, 18 January 1908, Page 7

WELLINGTON WOOL SALES.

A FURTHER FALL

The January series of the Wellington wool sales were opened yesterday morning, when a catalogue comprising between eight and nine thousand bales was submitted by the several firms of brokers. Buyers were strongly represented, and at times they showed animation in their bidding, but this was always within •closely defined limits, and prices showed a decline by comparison with previous figures. A good deal of :rough conditioned wool was included in the catalogue, says the "Post." 'There was a disinclination to operate in this class of wool on the part of "German buyers—a departure from their practice in previous years,when their competition helped materially in keeping prices firm in these lines. Good lambs wool met a spirited demand, but inferior was neglected. 'There was a difference of opinion, as the sale progressed, regarding the •extent of the drop in prices. One ■auctioneer put it down as averaging an all-round decline of a half-penny

per pound, while another reckoned he ■drop in best wools at a farthing, medium lots a halfpenny, and coarse wool a penny halfpenny. Another competent judge estimated that from 30 to 40 per cent, was the proportion of •catalogued wool sold, and that prices ruled from a farthing to a penny below December rates. A noticeable feature in the bidding was an unusual range between starting figure and final. One line started at sd, advanced to 7£d, and another was raised from 5d to 7|d. Several lots were offered without eliciting a bid, and many others were passed in, after a Mr amount of competition, on account of owners' reserves not being reached. The rates for crossbred, by comparison with last year's best prices for similar lines sold at Wellington, show a drop of about 49 per cent., prices being now 3d and 4d per pound lower. In connection with the sales Messrs Levin and Co. report as follows:Our catalogue represented 1,020 bales. There was again a good attendance of buyers, representing English, Continental, American and Australasian operators The wool market, since the sale held on December 6th, has gone through a period of severe depression for all classes of the staple, and prices offering privately about the middle of December for crossbreds showed a fall of a penny to twopence on December salu prices, and at sales in other centres of the dominion very bw prices have been ruling. The outlook for our January sale was very discouraging, and much of ihe wool was removed from the sale-room ad shipped direct to London. Since the New Year, however, the English financial market has improved, and immediately following the reduction of the bank rate came an improved demand for raw material, but prices have not returned to the December sale level. The fall to-day, as compared with December, may be put down at a farthing on fine wools, a halfpenny on medium crossbred, three-farthirgs on coarse wools, and a penny on inferior. Lambs wool sold up to 82d for best lines, but seedy and inferior sold as low as 5Jd. There was very little halfbred offering, and the quality- was not equal to that shown earlier in the season. Medium auality halfbred reached 9}d. Pieces Tind locks sold well at rather over December rates, being sought after by local scourers. The following is the range of prices (figures in parantheses being the prices obtained in December, 1907) : Halfbreds (9Jd to Hid) 8d to lOd. Superior fine crossbreds (BJd to 9Jd>, 8d to 9d. Medium crossbreds (7|d to BJd), 7|d to Bd. Coarse crossbreds (7£d to B|d), 6Jd to 7Jd. ' Inferior crossbreds (6Jd to 7Jd), sdto6Jd. Pieces and bellies, (4d to 5Jd), 4d to 5Jd. Locks (2Jdto3d), 2&dto3fd. Lambs, good, 8d to Bsd. Lambs, medium, 6id to 7fd. Lambs, seedy and inferior, 51d to 6Jd. „The following are some of the chief results:— Maramatai halfbred 7 ; ? d, L.W.P. halfbred 9d, Titiraugi halfbred 9d, W. fine crossbred 9d, E.A, -7Ad, Club three-qtiarterbred B|d, crossbred Bid, 7|d, Bd, lambs B|d, Hukanui 7d, Rawhitaroa 7Jd, A.S.P. 7d. A.R.C. 7|d, T.A., Clive 7Jd, E.M. Para Bd. Glenfern Bd, W.T.-H. 7d, J. and F.R. 6Jd, 7Jd. The New Zealand Loan and Mercantile Agency Company submitted about a thousand bales, and sold from 40 to 50 per cent, of it. The company estimates that declines were about a farthing on free-conditioned, good wool, and about a halfpenny on fairly good lines. -Locks and pieces suffered a decline, in sympathy with the fleeces. The United Farmers' and Wairarapa Farmers' Go-operative Associations, which sold in conjunction, according to usual practice, report that prices for crossbreds of good quality were halfpenny per pound lower than those ruling at last sale, and for shabby and faulty lots from • Id to ljd lower than previous sale. Quotations: Halfbred 8d to 9Ad, medium crossbred and Romney 62d to 7Jd, 'crossbred and Romney, heavy conditioned and dingy, 5d to 6;? d, pieces 3d to sd, locks 2£d to 3Jd.