HIGH COMMISSIONER'S REPORT.

Ashburton Guardian, Volume XLI, Issue 9430, 29 January 1921, Page 7

HIGH COMMISSIONER'S REPORT.

The Prime Minister has received [ the following cablegram from the Di r rector of Raw Materials, London, under date January 24 : — "London sales Government wool: closed on Friday. During series competition has been unsatisfactory, and prices for merino have fallen 15 per cent, to 20 per cent. Fine and medium crossbreds greasy wool, 46' b to 58' s, have declined 10 per cent, to 15 per cent., while there hifs again been practically no demanu for 44'e quality and below. Slipe and scoui'ed crossbred, particularly the latter, have proved; difficult of sal© ,at 15 per cent, to 20 per cent.', declined. We ..estimate current clean scoured price as under :: — s'4's, 3s 4d ; 60's, 3s : topmaking sorts, 58's, 2s sd; 565,. 2s Id; 50' s, Is 9d: 48's, Is 6*d; 46's, Is 4d: 44's, Is 2*d: 40s, Is Ofcd; 36>, Is. Quotations given for 44' s and below are nominal, and below our reserves. During series 51,000 Australian and 12,000 bales New. Zealand were offered, of which about 38 per cent, was sold. Twenty-one thousand bales Australian and New Zealand wool, shipped on growers' account, will, pc offered m London on January 25, January 26, January 27. You will be advised duly , result of these auctioned." In order i to make clearer the value of greasy wool m relation to the "clean scoured" rates above quoted, it may be stated that the following are greasy equivalents: — 60' s to 64' s meriuoes, 17* dto 19d per lb j 56's to 58's half-bred, 15d to 16 J; 48's to 50' s, fine crossbred, 13* d to 14* d; 44's to 46's medium crossbred, 10|d to ll|d; 36's to 40's coarse crossbred, 9d to 9£d. It is stated m the • above cablegram that prices for 44'e and under were nominal and below the reserves. Doubtless this description of wool was withdrawn at the bids mentioned. The percentage of medium and coarse crossbreds, below 46's, m the New Zealand clip is 76 per cent., the balance being merino 1.5 per cent., half-bred 7.6 per cent., and fine crossbred 15 per cent.