OVERSEAS MARKETS.

Auckland Star, Volume LX, Issue 56, 7 March 1929, Page 4

OVERSEAS MARKETS.

LONDON WOOL SALES. A GOOD OPENING. BUT PRICES DOWN. (Australian and N.Z. Press Association.) (Received 12 noon.) LONDON, March 6. At the wool sales 8815 bales were sold, of which 2363 were New Zealand. There was a limited selection of Merinos, and a good selection of greasy crossbreds. There was a large attendance from all centres. Crossbreds met good Yorkshire competition. Fine declined IVz per cent, compared with January closing rates. Medium and low, five per cent decline. Merinos, fine, par to five per cent decline; i broad haired, five per cent decline. The decline has been more than discounted in consuming centres in the interim since last sales, and brings London values in line with primary centres. New Zealand's Cricklewood, 19d to 17d; Ngaio, 18% d to 17d; M.P., 20% d to 18ttd; Waiau, 18d to Kwinta, 18d to lo^d. The Bank of New Zealand has received the following advice from its London office, untf.r date 6th inst.: — "The sales have opened with strong competition, and. a large attendance of buyers. There is a good demand for all wools. Compared with the close of last series, Merinos and crossbrede are about Id lower." Messre. Dalgety and Co., Ltd., report having received the following cablegram from their London house dated 6th inetant: — Wool Sales.—The wool sales opened. The attendance of buyere is large and competition animated. C-roesbred: Selection good. Merino: Selection poor. Aβ compared with closing rates of last series:— Greasy Merino, par to Id lower; greasy half bred, Id to l%d lower; greasy crossbred, fine, %d to Id lower; greasy •crossbred, medium and coaree, Id lower; slipc, Id to lVfcd lower. SYDNEY WOOL SALES. SYDNEY, March 6. At the Sydney wool sales to-day 11.916 bales were sold. There was good general competition and the market was very firm at the best rates of the week for ali Merino descriptions. Greasy Merino sold to 26% d.

CHICAGO WHEAT VALUES.

(Received 11 a.m.) (Australian and X.Z. Press Association.) CHICAGO, March 6. Wheat for delivery in March is quoted at' Chicago at $1.21% per bushel. For Maydelivery the rate is $1.25%, and for July n .28%.