PRICES FOR WOOL.

Manawatu Standard, Volume XLVII, Issue 8, 7 December 1926, Page 4

PRICES FOR WOOL.

AN UPWARD TENDENCY.

YESTERDAY’S SALES AT WELLINGTON

ADVANCE FOR CROSSBREDS

The second wool sale of the season, held at Wellington yesterday, proved very satisfactory, for crossbred wools showed a distinct upward tendency under American competition. The condition of the wool was good; it was light in grease. The wool from the Wairarapa side was showing, in some instances, the effects of the drought last year, and it was not as bold and sound in the staple as it usually is in an average good season. The wool from the Manawatu was quite up to the mark, as were also the wools from Nelson and Marlborough. There was not a large offering of either merino or halfbred wools, the December sale being too early for this class of wool; but there will be fair quantities offering at the January and February sales. There was one parcel of merino wool, the top lot of which reached as high as 23d. Crossbreds sold exceedingly well. American representatives were buying fairly freely, more so than at the November sale, and were paying on the whole about Id higher, and sometimes a little- more. The bulk of the offering of crossbreds was secured by Bradford buyers and Continental representatives, and the competition was so keen and sustained that practically the whole of this class of wool sold at an advance of Id, as compared with the November sale. Lambs’ wool was secured by French representatives, without any alteration in last sale values.

rooms provides an interesting indication of the state of trade in consuming countries, and from the business transacted yesterday, when British operators made fairly heavy purchases, it is evident that confidence is being gradually restored, and the outlook is bright for sound business at about the present range of prices. Germany would no doubt have been larger buyers if the offering had been more suited for their trade, but, as previously mentioned, the wools generally were a little too goqd and deeply grown for their requirements. From results of London and Australian markets it seems as if prices are now fairly well stabilised for some time to come, and we do not look for any pronounced fluctuations during the remainder of the selling season. The outlook for the wool trade generally is healthy, and in striking contrast to the position at the close of the previous season. The healthiness is in a large measure due to the fact that the progress towards recovery has been gradual and has all the more prospect of permanency from the fact that it has not been forced at any point. The trade has wished for a period of reasonable prices to give it time, to recover from the staggering blow of the previous slump, and it is now being afforded that opportunity. The world is able to absorb all the ivool produced, but the basis of value must necessarily fluctuate with and depend upon the purchasing power of the wool-using public. Out of our catalogue of 3400 bales we sold 97 per cent under good general competition. In halfbreds we made 19jd for ten bales of super 56-58’s, branded Fyvie, from the Marlborough district, and 33 bales of the same quality, Lakeview, also from Marlborough, made 18d. A very light line of 50-56’s quality, EFH/OTI, from Belorus, brought 18id. In crossbreds there wero quite nice parcels, five bales of super crossbred from Wairarapa, TB/Waihi, making 15d.

Hogget wool sold exceedingly well, and was secured principally by Bradford buyers. The hogget woof is particularly well-grown this year, and is therefore meeting with excellent competition.

Binned and reclassed lots commanded exceptionally keen competition, and it is more apparent than ever that small clips of up to 15 bales, when of mixed quality, bring truer range of values when binned than when offered as a mixed parcel. Some of our principal sales were as under:—

Bellies and pieces commanded the attention of the Dominion mills and Continental buyers, and some exceedingly good prices were paid, in some cases equalling the price of the fleece portion of the particular clip so far as pieces were concerned.

The sale generally may be considered a very satisfactory one, since it restores the prices to the level of those ruling in March last, when the previous sea” son closed.

Alerino: 3 bales Tuimnil 19id; 12 Hillersden 19id; 29 Tummil 183 d and 25 at 18d; 5 Lakeview 18Id and 3 at 171 d; 3 .Wantviood * Halfbred: 10 Fyvie 19jd; 33 Lakeview 18d and 14 at 161 d; 4 EFH/OTI 18id; 5 WHO 17d; 7 W Brook 15id; 10 AJW 5 Wainui 15|d; 8 JJ/M 12id; 9 EP/Maracnui 15(1 and 7 at 14d; 4 JH 13id; 16 Kairuru 151 d and 6 at-143d; 4 RS/M 14£d; 6 Happy Valley 163 d and 4 at 153 d; 5 Hillersden 14Ad; 6 Gowanbrae 18d and 6 at 163 d; 5 Wantwoocl 143 d; 6 HW 15Id; 5 WHO 123 d; 4 DCO/W 17d and 6 at 15id. Crossbred: 5 TB/Waihi 15d and 13 at 23 Maunga/Raki 123 d; 6 FD/Wairewa 13id; 5 JHO 13d; 6 Tutrumuri 133 d and 6 at 12Id; 11 Rata 12id; 4 PMCK lid; 6 OCW/M 10jd; 11 FW/W 123 d; 5 FG/M lOid; 7 JRS 10R1; 6 M and H 12d; 6 JMCK 12d; 9 Oaklee llid; 4 DHR llid; 7 BWP 12d; 20 Tawa 12d; 11 JMM/two bar Y 113 d; 6 ACG lid; 5 RB/K llid; 6 WRB 13|d and 12 at 12Jd: 9 WMR llid; 11 Milnes 13d; 16 Cinder Hill 12*d; 14 HN 12id; 23 48/Lowlands 12id and 14 at 12d; 6 Rameslie 12id and 9 at llid; 5 JAC 12id; 5 Marvbank 121 d; 18 Fairholm 12d; 7 Awahiwi 12d; 11 LFP llid; 5 JM/Laudlo 113 d; 14 EWC llid; 6 Sugar/Loaf 12id; 11 EAZ 133 d; 20 Happy Valley 14id and 11 at llid; 11 EMT 12d; 4 Un/Glentara 13d; 16 Blairquhan 113 d. Hoggets: 7 TB/Waihi 14id and 15 at 14d; 5 Ranui 14id; 15 Cinder Hill 14id; 6 LA/B 133 d; 8 Tutrumuri 13d; 3 Maunga/Raki 13d; 6 GWB 13d; 10 FS 124 d; FD/Wairewa 12id; 5 FJSS 123 d; 4 T/Nguinna 12id; 5 JHO 13id; 6 P/Ngama 113 - 10 RBS 13d; 19 Korirata 12d; 4 Spring/Dale llid; 6 AIP 12Id; 8 Tawa l2d; 7 ACG 12id; 7 Limcbrook 12i-d and 13 at llid; 4 JHD 12d; 9 WRB 133 d; 19 Milnes 12id; 7 ACF/P 13jd; 17 lIN 123 d and 12 at 113 d; 12 48/Lowlands 13d; 5 FP/Mania . 12d; 4 Fairholm 113 d; 4 JRM/M 13id 4 JM/Laudle Hid; 4 Sugar/Loaf 12d; 9 EAZ 14id; 5 DMM/P 12id; 6 OTW 13id; 6 Waitoru 123 - 4 Pigeon Bush Estate 12id; 5 RAD Hid; 9 AH/PN llid; 20 DW/U 13d; 2 JWM/Linside 12d. Bellies and pieces: 10 TB/Waihi 14d; 3 Fyvie 13id; 6 Lakeview 13id; 4 Tutrumuri 0(1; 4 WBX Bid; 6 Maunga/Raki 9id; 4 FD/ \Vairewa 83d; 4 WRB 8d; 7 Milnes 10id; 15 HN lOid and 7 at Bid; 7 48/Lowlands 9d; 5 EP/Maraenui 103 d; 4 Sugar/Lionf 9d; 8 Happy Valley 9gd; 4 Hillersden 13-id; 9 Tummil 14id and 8 at 13id; 4 JWM/Linside 7id; 9 DW/U 9d.

It is estimated that from 90 to 95 per cent of the offering was cleared. Those who sold their clips will get their wool cheques on December 20. RANGE OF PRICES. The range of prices as officially stated follows:

WRIGHT, STEPHENSON AND ABRAHAM AND WILLIAMS.

Wright, Stephenson and Co., Ltd., and Abraham and Williams, Ltd., report: We offered a. catalogue of 2757 bales. Competition was keen throughout the salo and as most of the growers wero willing to accept market prices and thero only being a few who placed prohibitive reserves, we made a good clearance, that is, 92 per cent, under the hammer. As in the last few sales Bradford was the mainstay, getting the bulk of the offerings. Germany was not so strong as usual; this partly being caused by a Jot of the offering being too long in staple for their requirements. France practically only bought lambs and suitable pieces. America as usual was only picking super lots. Super wools may be quotod up Id per lb and average wools up per lb. Some of the best prices realised by us were: Halfbred. —Challenge, 5 at 17id; 9 at 15jd; WAW/Bluegums, 5 bales II 17d, 7 bales 18d; tho K. 4 bales at 16id; N.S.A., 4 bales at 15|d; Bounds, 4 bales at 16jjd; J.S., 6 bales at 16d. Fine Crossbred. —Challenge, 4 bales at 16d, 4 bales at 14d; C/Snowdon, 3 bales at 14d; 2A/Tutumai, 5 bales at 13£d; E.H.P., 4 bales at 13id; JM/Ahunui 7 bales at 15d; FF/M, 4 bales at Summerhill, 9 bales AW at 15d, 5 bales BW at I2id; Glencoc/MBM, 9 bales at 13 Jd. Medium Crossbred.—Challenge, 5 bales at 14d, 16 bales at 13jd, 10 bales 123 d; C/Snowdon, 10 bales at 12$d; Admiral/ WMcK, 4 bales AAW 133 d, 5 bales W at 13id', 15 bales AE 13d, 8 bales AE at 14d, 14 bales at 123 d; GH/two halfcircles, 4 bales at 12;Jd; Glenelg, 19 bales at 13d; PB/Awariki 13d; Ngakonui, 10 bales AW at 14ad, 10 bales BW at 123 d, 25 bales AE at 123 d, 25 bales BE at 12£d; JM/Ahunui, 12 bales AE at 14id; K Bros., 6 bales AX at 13d; E rev. R, 4 bales at 12£d, 12 bales AE at 12d, 22 bales BE at l'2Jd; M/Prtnpa, 14 bales AE at 133 d, 7 bales BE 12id; E. Bros., 3 bales A at 13id, 9 bales B at 121 d; Bywell, 10 bales at 13d, 5 bales AW it 123 d. 15 bales BE at 123; Tangimoana/AMC 4 bales at 12£d. Hoggets.—Ngahuo, 12 bales at 123 d; HI-IG, 5 bales at I2Jd; HC/Waikuku, 5 bales AH at 14id, 6 bales BH at 13d; Glenelg, 9 bales at 13id, 4 bales 123 d; PB/Awariki, 6 bales ut 14d; RAC'/M, 3 bales at 12£d; Makopua/GLM, 4 bales at 123; ELR/RI, 5 bales, 13d; VS/ Lonehand, 10 bales at 12jd; Creevalc, 7 bales 13jd; AO/Lindale. 14 bnles at 13id; MPC, 4 bales at 12Jd; Ngakonui, 42 bales AH at 13id, 19 bales 81l 13R1; Summerhill, 8 bales at 13Jd, 12 bales at 123, 7 bales at 12d; E rev. R, 4 bales at 13d; Waimapu/BV. 5 bales at 13d; ICorepo, 7 bales A 133 d, 7 bales B at 13id; WBM/Puruatanga, 14 bales AH

BROKERS’ REPORTS. DALGETY AND CO. Dalgety and Co., Ltd., report: The offering was the smallest catalogued for many years in Wellington for a December sale, 19,400 bales being submitted, against 25,300 last season. The wet weather lately has greatly retarded shearing, and deliveries have been coming to hand slowly. If a fine spell is met with brokers will have a busy time handling the rush of wool that will oome forward for the January sale, and the full allotment will rapidly be filled.

The usual full lpench of buyers was in attendance, and competition for the majority of lots was exceedingly keen, Bradford and the Continent both being well in the market, with spasmodic bidding coming from the United States of America. The quality and condition of the offering was good. Parcels of super style Romney wools were easily found, with no scarcity of good spinners’ wools suitable for the English trade. Some very good halfbreds and merinos were catalogued from the Marlborough district, and local mills and American buyers competed keenly for the best lots. French competition for the best bellies and pieces was not so pronounced as at our first sale, but local mills and Continental buyers other than France came in well in this class of wool, keeping prices well up to the rates secured at our last sale, and at times some super lots showed a pronounced appreciation. German buyers bid freely on suitable lots, but a large proportion of the offering was too deeply grown and too stylish for their requirements.

Generally speaking, the buying at the sale was well spread, as was the case at the first Wellington sale and other sales that followed. The small offering to dale has brought m sound competition from the largo and small buyers, and orders held havo so far been rapidly filled. Thero is no doubt that the pulse of the wool auction

133 d; By well, 6 bales A at 13id, 4 bales B at 12|d; Tangimoana/AMC, 4 bales at 13Jd; AMO, 5 bales at 12id. Coarse Crossbred.—Challenge, 9 bales at 12id; HC/Waikuku, 16 bales at llid; Glenclg 2 bales at 12id; Ngakonui, 6 bales CW at. Hid, 3 bales CCW at llid, 9 bales CE at 113 d; E rev. R, 5 bales at llid; E. Bros., 4 bales CE at llid; By well, 4 bales CE at lid. Lambs. —Glenelg, 4 bales at 13id; Korepo 6 bales at 14d; Bywell, 4 bales at 13i'd; Pikihero, 3 bales at 13id; Challenge, 1 bale at l3id; JK, 1 bale at 13id; L. rev. R., 3 bales at 13id. Necks. —Admiral/WMcK, 5 bales at 12d; Challenge, 1 bale at 13id; Ngakonui, 12 bales at 12cl; Korepo, 3 bales at 13Ad; E. rev. R., 1 bale at 13id; M/PRTNGA. 1 bale at 13id; HC/Waikuku, 1 bale at 13id. First Pieces. —W in circle, 5 bales at lOd; Ngakonui, 16 bales at lOid; Bywell, 7 bales at lOd. LOAN AND MERCANTILE CO. The Now Zealand Loan and Mercantile Agency Co. Ltd., report: —At the second wool sale of the season there was a large bench of buyers. Bidding was keen and general and the prices realised compared with the previous sale wero from par to a shade dearer. We wero successful in disposing of 96 per cent, of our offerings. The quality of the wool surpassed that of last year and the wool opened up bright and light in condition. Included in our catalogue were some notable clips, among which were Ilawkesbury Alerino which realised up to 23d per pound and Alamuku fine Romney up to 15R1. Clips classed by us in store sold remarkably well and our binned wools realised very satisfactory prices. Some of the prices were: —J. 8.5./ Glenlea, hogget and eive, 7id; W.A./Hilton, hogget and wether lljd; E.S.E./ PUKETOI, super A.A.E., 12R1; 0.R.8., ewe, llid; Pai, wether, lOid; GB.G., crossbred, lO^d; Edordale, first fine crossbred, llid, second crossbred 103 d, crossbred lOid bellies and pieces 6Jd; H.T.F./ A.T.A., A.H., 123 d, B. hoggets Hjd; A.E.E. llid A.E. 12d, B.E. llid, pieces Bid, bellies and pieces 83d; B/ROPUROA, first fine crossbred 12id, crossbred 11J(1; JB/LINTON, first three-quarterbred 14id, first crossbred 12jd; R.V.S./Pittencries, hoggets and ewes 12d; S.Ii.R./W. crossbred llid; R.R./W.D., ewe llid: Makiekie, hoggets 13d; E.A.U.A., llid; E. 8., IOJd, erutchings 6id; W.A./HILTON, ewe 103 d; H.W./A., crossbred llid; F./P.N.N. hoggets and ewe 11J; W.S.J./ K., three-quarterbred hogget 14d, first fine hogget and ewe 134 d, first ewe 123 d, second fine hogget and ewe 113 d, bellies and pieces BJd; Belmont, first hogget 12id, second 12d, first crossbred 12id, second 103 d; Linside, first three-quarterbred hogget 153 d, first fine hogget 14id, first lino ewe and’wether 133 d, first owe and wether 123 d, first pieces and neck 12d; TUI/P., fine ’ crossbred 113 d, first crossbred IOJd, crossbred lOid.

LEVIN AND,CO. Levin and Co., Ltd., report:—Our catalogue represented 5045 bales. The continued unseasonable weather limited tho offering. The same causo is making tho wool light in grease. Clips generally may be better grown than last year, particularly hogget wool, but it cannot bo said that clips from the Wairarapa and tho East Coast are showing tho growth of an average good season, the staplo of tho wool in many instances lacking body. Bidding was keen and animated, and the sale was a fast one, and we sold 96 per cent, of our catalogue under tho hammer. Competition came from all quarters of the trade, being more general and sustained than at the earlier sale. America was more in evidence and bought more keenly, and prices for super crossbreds 46-48's and 44-46’s were moro regular and more freely given. There was a general advance of id, and occasionally as high as a penny, where stylo and growth warranted American competition. Bradford and the Continent were eager competitors for all classes of crossbreds, and for tho average grades of medium, coarse and low crossbreds a general improvement in prices was noticeable to ttie extent of a full halfpenny. Alerino clips were not in strong evidence, but taking quality into consideration, prices do not appear equal to the November level. Only a small quantity of halfbreds were forward for tho. sale, and a reliable comparison is not possible. Lambs’ wool was in small supply and sold well without any appreciable change. Bellies and pieces were well competed for by Germany, France, Italy and Dominion mills, and again some exceptional prices were bid for good lots—in some instances fleece rates were obtained.

On the average, prices arc round about last Decernber-March level again.

Nov. 15. Dec 6. 1926, sale. 1926, sale. d. d. d. d. Merino, 64/70, 60/64 Super 21 to 22i 192 to 23 Average 17 to 20J 16i to 19i Inferior lli to 15 Fine half bred, 56/58 Super 17 to 192 17 to 19i Average 12i to 16J 134 to 162 Inferior Medium half bred, 50/56: Super 13i to 15i 15 to 17i Average 121 to 142 Inferior 92 to 111 10i to 12 Coarse half bred, 48/50 : Super 14 to 15i 14 .to 16 Average 131 to 14i 134 to 142 Inferior — 102 10i to 112 Oorriedale 16 to 17 Fine crossbred, 46/48 — __ 122 to 15 Super 13 to 14i 13i to 15 Average iii to 13 112 to 13i Inferior 92 to 102 10 to lli Medium crossbred, 44/46 : Super 12 to 132 13 to 14i Average 10i to 12i Hi to 134 Inferior 82 to lOi 9i to 11 Coarse crossbred, 40/44 : Super 11 to 12 112 to 134 Average 10 to lli 104 to 12 Inferior 72 to 9i 8 to 10 Low crossbred, 36/40 : Super 112 to 12 Average 9i to 11 9i to lli Inferior 8 to 9i Hoggets, 48/50 ... 11 to 152 124 to l&i Fine, 46/48 10| to 14i lli to 15 Medium, 44/46... 10i to 13i 10i to 14i Coarse, 40/44 ... 9i to 12 10 to 12i Low, 36/40 9i to 102 10 to lli Lambs: Down, 50/56 ... — — ' « Fine, 44/50 lli to 142 lli to 14i Medium, 40/44 — to 11 Seedy & inferior 5i to 92 5i to 10 lieliie.s and pieces: Merino, good to super 12 to 16 124 to 14i Merino, low to medium 10i to 12 Maltbred, good to super 10i to 122 11 to 134 Half bred, low to medium 9 to 11 Crossbred, good to super CO o 8i to 14 Crossbred, low to medium ... 5 to 8 5 to 8i Crutchings : Medium to good 7 to 9i 8 to 9i Inferior & seedy 2i to 6i 3 to 7 Locks: Merino — to 7 9i to lli Halfbrcd — to 6i 6 to 8 Crossbred 4 to 6 4 to 6i