WOOL MARKET

Wairarapa Times-Age, 28 March 1939, Page 3

WOOL MARKET

AUCKLAND SALE BIDDING CONSISTENTLY BRISK. CROSSBRED IN DEMAND. (By Telegraph—Press Association.) AUCKLAND, March 27. A record entry of wool for Auckland, 36,185 bales, attracted brisk bidding by Bradford and Continental buyers when the third and final Auckland sale of the present season opened at the Town Hall today. Three catalogues, comprising more than 24,000 bales, were offered and the remainder, about 12,000 bales, will be put up for auction tomorrow.

Though quality wools were firm on recent values and the prices paid for better sorts compared favourably with those realised at the second Auckland sale in January, there was a large proportion of lambs’ wool and much of the offering was below the usual standard. As a result, the average price is not expected to be much in excess of 8d a lb, or about £l2 a bale. The clearance was about 95 per cent of the offering of 24,000 bales and on this basis the estimated return to the growers from today’s sale is about £280,000. The average prices at the Auckland sale in January were 8.56 d a lb, or £l2 15s 6d a bale, resulting in a return of £293,673.

The best of the wool offered opened up in the usual third sale condition and made prices that were very firm on those ruling at late sales and from id to id above those realised at the second Auckland sale in January. Competition was keen but within most definite limits. Main support came from Bradford and the Continent, both France and Germany being well to the fore, and there was also a certain amount of buying for Japan. The demand from the United States was almost negligible. A noticeable feature of the sale was that the bidding was confined principally to about a dozen men. Though there was a full bench of buyers, the majority were content to sit and mark their catalogues as the sale progressed, taking no active part in the proceedings. At the same time, with both Bradford and Europe definitely interested, there was no inclination for the sale to flag and bidding, without being spectacular at any stage, was consistently brisk. Crossbred wools were in the heaviest demand, as is usual in Auckland. Most of the medium and coarse wools were knocked down to Bradford or Contitental buyers, and a small proportion of coarse crossbred was purchased for the United States carpet-making industry. France dominated the market for bellies and pieces and Germany took a substantial quantity of higher grade crossbred. There was a very small entry of halfbred and fine wools and the lots offered were not keenly sought. The local mills were not prominent, and with the buyers concentrating on crossbred the prices for finer sorts were not spectacular. Southdown wool was definitely not sought by the buyers. A fair entry of East Coast wool sold well to keen competition. In one catalogue at least it topped the market for crossbreds, averaging about 9Jd a lb. This wool was in good condition, being rather lighter than the rest of the offering and not showing discoloration.

Passings were few and far between. It is estimated that less than 5 per cent of the wool offered today was passed, and of that a substantial proportion was later sold by private treaty. Top price was HAd, which was made by two lots.

The official range of prices is:— d. • d. Southdown A 9 to 10 Southdown B 8 to 83 Halfbred, 56/58— Extra super — Super' ii to iij Average 10 to 104 Halfbred, 50/56— Super — Average 10 to 104 Inferior 84 to 93 Extra fine crossbred, 48/50— Super .... 94 to 10J Inferior 8 to 9 Fine crossbred, 46/48 — Super — Average 83 to 94 Inferior 73 to 8J Medium crossbred, 44/46— Super Average 8] to 94 Inferior 74 to 8J Coarse crossbred, 40/44 — Super — Average 8? to 9J Inferior 74 to 84 Strong crossbred, 38/40 — Super — Average 9.J to 10 Inferior 84 to 9 Hoggets— 52/56 10 to 111 50/56 10 to 104 48/50 94 to 10 46/48 9 to 10 Lambs — Down crossbred 83 to 93 Fine 9 to 11 Medium 8 to 10 Seedy and inferior 5 to 74 Bellies and pieces, crossbred — Good to super . 64 to 84 Low to medium . 5 to 64 Halfbred . 64 to 9 Crutchings-— Medium to good . 7 to 8’, Inferior to seedy . 5 to 64 Locks— Crossbred . 4 to 43