WOOL MARKET

Wairarapa Times-Age, 4 February 1939, Page 3

WOOL MARKET

SALE AT INVERCARGILL IMPROVEMENT IN PRICES. FRENCH BUYERS ACTIVE. (By Telegraph—Press Association.) INVERCARGILL, February 3. Southland wool-growers today received the benefit of the first upward tendency in the market for wool since the decline which occurred about the middle of last month. The market this afternoon for the first Invercargill sale, of 24,000 bales, was very firm and showed an improvement of from a farthing to a halfpenny a pound, compared with recent northern sales. While prepared for reduced prices compared with last year, growers found the sale above their expectations, and practically the whole catalogue was sold. For the lots which were passed there was considerable activity between buyers and brokers after the sale, and the carryover of wool will be negligible. The French buyers dominated the market throughout the sale. From the outset it was apparent they were in the market for crossbred wool, as well as for piece wools, which normally k .attract French competition at Invercargill. Bradford buyers were also keen and lifed a considerable proportion of the catalogue, but they had to extend their limits to meet strong Continental competition. There was a good demand from all quarters, smaller proportions of the offering going to Japanese, German, Russia, Belgian and American buyers. Fine wools suffered the greatest reduction compared with last'year, but coarser grades of crossbreds, which,, comprised the bulk of the catalogue, showed a much smaller reduction, and in some cases actually brought the same prices as at the first sale last year. The wool was in fair condition, but the dry autumn last year and the shortage of winter feed had an effect on the wool, with the result that there was probably a greater percentage of shabbier grades of crossbred wool than usual. Actually, this class of wool was in greatest demand, and the catalogue appeared completely to suit the immediate requirements of the buyers. Prices w T ere slightly better than at recent sales held in northern centres, states the official report, and in most cases exceeded the brokers’ valuation, with the result that 96 per cent of the catalogue was sold at auction. Bradford and France were the principal operators, and Russia, Japan, Germany and Belgium were also on the market to a lesser extent. The price of hogget wool was practically on a par with prices obtained in northern centres, but crutchings and good type crossbred ewe wools were distinctly firmer. The range of prices was as follow:—

d d Lincoln 12.’ to 131 Southdown A super 10 to 111 Southdown B 8 to 92 Halfbred. 50/56’s— Super 10J to 111 Average 10 to 101 Inferior 9 to 92 Extra fine crossbred — Super 101 to 11 Average 91 to 10 Inferior 9 to 91 Fine crossbreds, 46/48’s — Extra super 111 to 12 Super 10 to 11 Average 91 to 92 Inferior 8 to 9 Medium crossbred, 44/46’s — Super 9.2 to 101 Average 9 to 91 Inferior 8 to 9 Coarse crossbred, 40/44’s — Super 91 to 10.2 Average 8.2 to 91 Inferior 71 to 81 Hogget— 40/56’s 92 to 102 48/50’s 91- to 11 46/48’s 9 to 101 Necks — Fine 10 to 10.2 Crossbred 9 to 10 Crossbred pieces— Good to super 81 to 91 61 to 8 Crossbred bellies — Good to super 8 to 82 Average 7 to 72 Crutchings— Medium to good 71 to 91 Inferior and seedy 6 to 7 Locks 41 to 52