RISING TENDENCY

Wairarapa Times-Age, 9 February 1939, Page 11

RISING TENDENCY

VALUES AT DUNEDIN WOOL SALE

CROSSBREDS AND HALFBREDS APPRECIATE. BRISK & ANIMATED BIDDING. (By Telegraph—Press Association.) DUNEDIN. February 8. With crossbreds dearer by Id a pound on Invercargill rates and halfbreds worth Id more than at the last Christchurch sale, the second auction of the 1938-39 wool-selling season in Dunedin today disclosed a continuance of the gradually rising tendency of the market. In many cases growers’ anticipations were exceeded and there was a general feeling of satisfaction at the return of prices to the very moderate level which obtained at the open-

■ ing sale in Dunedin in December. Practically the whole of the offering of 27,303 bales was disposed of and there was brisk and animated bidding throughout the sale. Top price for the day was 18d, which was paid for a line of extra super merino from the well-known Puketoi Station of Mrs Watson Shennan in Central Otago. On the basis of an estimated average price a pound of about lOd, or just over £l3 a* bale, the gross proceeds from today’s sale should be in excess of £350,000, which, with an actual return of £306,534 from the first sale, brings the total receipts from wool in Otago to date up to more than £650,000, a little less than half the total cheque for 1937-38. It" was a brisk sale from beginning to end, with occasional bursts of sheer boisterousness, and consistency of inquiry which should do much to encourage in the grower a proper confidence in the future of his product, despite the developments of the artificial textile industry. Competition

was fairly well spread over a wellfilled and representative bench of buyers, but as has been the case so often in the past, the pacemakers were Continental operators, mainly French and Belgians. Bradford operated only moderately, and there was a small inquiry from Japan, Germany and the United States. Local mills were in the market strongest for super merinos and fine pieces. One of the few disappointing features of the sale was the virtual neglect by local manufacturers of extra super-fine halfbreds, which for the most part went to foreign buyers. Brokers’ valuations were generally exceeded. Crossbreds, in comparison with Invercargill rates, were Id dearer, and halfbreds firmer on Christchurch values by a similar amount. Compared with December prices in Dunedin, most descriptions of wool were firm, exceptions being certain classes of pieces. Extra super merinos showed

a sharp advance on December prices and for these sorts the demand was exceptionally keen, several lots equalling the December top price, and the peak price of the day exceeding that of the first sale by 2’d. Extra super halfbreds failed to keep pace with the rest of the offering because of the comparative indifference of local operators. ', . The selection of wools offered today did not come up to the usual standard of clips at the second sale of the year in this centre. The great bulk of the wool was marketed in attractive manner, and the fact that buyers appreciate evenness of grading by selling brokers was demonstrated by excited competition for the best lines of binned wool. On the whole, farmers’ classed clips were also well got up.

RANGE OF PRICES. Following is the official range of Dricps*— Feb 8. 1930 Dec 20. 1938

d d d a Merino — to Super 12.', to 14 — 12 Extra super 141 to 18 — to — Average 101 to 12 101 to 11 .*] Inferior 91 to 10.1 91 to 101 Fine Halfbred. 56/58 — Extra super — to — 14 to 15? Super 12 to 14 12 to 13? Average 10J to 11S 101 to 11? Inferior 9 to 101 9 to 101 Medium Halfbred, 50/56 Extra super — to 131 — to 131 Super 11:? tO 12? 11-1 to 12? Average 10? to 111 101 to 11 Inferior 81 to 10 81 to 10 Fine Crossbred, 48/50— to Extra super 13 to 131 — 131 Super Average 11?* to 91 to 12.1 11 Ill 91 to to 12 10? Inferior 8J to 91 8 to 9’4 Med. Crossbreds, 46/48 Super 111 to 12 11 to 12 Average 91 to 10? 91' to 10? Inferior 8 to 91 8 to 9. Crossbred, 44/46 Super101 to 111 10.', to Ill Average 81 to 91 8 to 81 Inferior81 to 91 8 to 81 Merino Necks & Pieces — Super10’, to 121 91 to 111 Low to med. 71 to 10 7 to 9 Halfbred Necks & Pieces — Extra super — to — — to 12 Super 10 to 10? 10 to 11 Good to super 9 to 91 8 to 9 Low to med. 6 to 71 6 to 7? Crossbred Necks & Pieces — Super 9 to 101 9 to 101 Average 7.1 to 81 71 to 81 Inferior 6 to 6? 6 to 7 Crutchings, Halfbred — Medium to good 5 to 7.1 51 to 7? Inferior 4 to 4? 4 to 5 Crutchings, Crossbred- - Medium to to good 61 to 61 81 Inferior4 to 5 4 to 6 Locks. merino — to — 4 to 5 Locks, HalfbredMedium to 41 to good 4 to 5 4 Locks, Crossbred— Medium to to good 3:’ tO 4i 31 4J