LONDON WOOL SALES.

Auckland Star, Volume LX, Issue 221, 18 September 1929, Page 4

LONDON WOOL SALES.

PRICES STILL LOWER. CROSSBREDS PAR TO FIVE. BUYERS PESSIMISTIC. (Australian and N.Z. Press Association.) (Received 11 a.m.) LONDON, September 17. The wool sales opened at five to ten per cent below July rates. 12,545 bales were offered, of which 2283 were New Zealand. It was a miscellaneous selection comprised largely of second-hand lots. There was a large attendance from all centres, but buyers' tone was somewhat pessimistic. Competition was somewhat slack, and there were considerable withdrawals. Compared with closing rates at July 23, Merinos were generally ten per cent lower, and crossbreds, for which competition was better, and greasy, was par to five per cent lower; slipes Vk, and other sorts 5. New Zealand clips: Half-bred, Hastings, 19% d; three-quarter-bred, 18d. Messrs. Dalgety and Company, Limited, report having received the following cablegram from their London house dated the 17tli inst: — The wool sales opened with good average selection, mostly speculators and scourers. Large attendance, but competition irregular and bidding restricted. Home trade were more active than Continental. Withdrawals heavy. As compared with closing rates of last series: Greasy merino, IVz per cent to 10 per cent lower; scoured merino, 10 per cent lower; greasy crossbred, fine, not represented; greasy crossbred, medium and coarse, 2% per cent to 5 per cent lower; slipes, combing, 10 per cent lower; other slipe, 5 per cent lower; scoured crossbred, 10 per cent lower. The New Zealand Loan and Mercantile Agency Co., Ltd., report:—We are in receipt of the following cable from our London office, under date 17th instant: There was a good attendance at the opening sale to-day. Competition by Home and Continental buyers was fairly active, and prices, as compared with the close of the succeeding series, rated about 10 per cent lower. Merinos, crossbred, fine, Vfc per cent; crossbred, medium, 5 per cent; crossbred, coarse or shabby and wasty Merinos very poor demand. The opening catalogues were fairly representative.