WOOL MARKET

Wairarapa Times-Age, 13 March 1939, Page 3

WOOL MARKET

INVERCARGILL SALE PRICES SHOW IMPROVEMENT. PASSINGS NEGLIGIBLE. (By Telegraph—Press Association.) INVERCARGILL, March 12. Prices showing an improvement on those obtained at the first Invercargill wool sale in February were paid at the second sale yesterday. Good crossbred ewe wools were slightly firmer and crossbred hogget wools were a halfpenny to a penny dearer. Taken all round, the sale was better by a farthin a pound. It is estimated that the average price will work out at about 9£d a pound and £l2 15/- a bale, compared with 9ld a pound and £l2 7/- a bale at the February sale. Based on this estimate the value of wool sold is £342,540. The sale was animated throughout and practically a full clearance was made. The competition was marked by intense and active interest from all sections. The top price was paid for a line of super halfbred. Though the general rise was a farthing, super hoggets gained fully a penny and in some cases more. Japanese competition for crossbred hogget wools was good. Bradford, as at northern sales, was very active and local mills took all their requirements. The official report is: A total of 26,806 bales was offered. There was keen competition by all sections of the trade and passings were negligible. Less than half per cent, of the offering was passed, and as this was sold later by private treaty a full clearance was made. On a general average the sale was about, a farthing a pound better than the February sale. Bellies, pieces and crutchings were inclined to be slightly easier. Good crossbred ewe wools were slightly firmer and crossbred hogget wools were a halfpenny to a penny a pound better. The wool opened in very good condition and with the exception of a few super lines,'which are always offered at the first sale, the condition all round was superior to that of the February offerings. Brokers’ values were fully realised and in many instances exceeded. Germany was a strong buyer of fine crossbreds suitable to her requirements. Japan was in the market for all best quality crossbred hogget wools and France as usual dominated the market for pieces. The following is the' range of prices:

LONDON SALES. PROSPECTS FOR TOMORROW GOOD. By Telegraph—Press Association—Copyright. LONDON, March 11. Wool is firm. Prospects for Tuesday’s wool sales are generally regarded as good. The Bradford tops market is exceptionally firm, though business is small. The impression is that the market will open fully equal to the closing prices of the last series, with any movement likely to be in sellers’ favour.

Merino — d. d. Average 10.1 to 103 Corriedale — Super 12’ to 133 Average 11 to 12.1 Southdown— Average 93 to 101 Halfbred, 50/56 — Super 111to 12’ Average 102 to 11.1 Inferior 10.’, to 101 Extra Fine Crossbred, 48/50Super io.? to 111 Average 10 to 101 Inferior 94 to 9:;' Fine Crossbred, 46/48 — Super 103 to 113 Average 93 to 101 Inferior 9 to 91 Medium Crossbred, 44/46 — Super 101 to 11 Average 94 to. 10 Inferior - 9 to 91 Coarse Crossbred, 40/44 — Average 9 to 93 Inferior 81 to 83 Hoggets-— 50/56 to 12 48/50 103 to 113 46/48 10’ to 11.1 44/46 10 to 101 Necks — Fine to 11.1 Crossbred 9 to 10 Crossbred Pieces— Good to super 81 to 91 Average 71 to 83 Crossbred Bellies — Good to super 8 to 81 Average 71 to 73 Crutchings— Medium to good 63 to 8.1 Inferior and seedy 51 to 61 Locks — Crossbred 3 to 53