A POOR START.

Auckland Star, Volume LXIV, Issue 62, 15 March 1933, Page 4

A POOR START.

LONDON WOOL SALES.

GOOD COMPETITION. BUT PRICES LOWER. (Received 10 a.m.) LONDON, March 14. At the wool sales 9027 bales were offered, including 3301 New Zealand. Approximately 4110 were sold. There was a poor selection of Merinos and a good lot of cvossbreds. There was a large attendance, with the Home trade competing freely and Continentals rather sparingly. Compared with February closing rates greasy Merinos were 5 per cent lower, fine wools 5 per cent down, medium to coarse 7% per cent lower. New Zealand greasy Merinos, Birchil, top price 9V£d, average 9d; greasy lialfbred, Ngaio Downs, 9%d and 9d. Messrs. Dalgety and Company, Limited, report having received the following cablegram from tl'eir London house, dated 14th instant: — The London wool sales opened; competition good; attendance average; selection fair. Home trade principal operators. Continental buyers reserved. As compared with closing rates of last series: Merino. Vsd to %d lower; lialfbred, md to Id lower; crossbred, fine, %d to %d lower; crossbred, medium and coarse, /-id to Vzd lower; slipe, Vzd to %d lower. The New Zealand Loan and Mercantile have received the following cable from their London office: — There is a good attendance at the sales to-day. Competition by Home land Continental buyers is restricted. The opening catalogues were fairly representative. [Values generally arc Vsd lower. The Bank of New Zealand has received the following advice from its London office, under date 14th instant: The sales opened dull, with an irregular demand. Compared with the close of last series prices are %d lower. LAST CLOSING RATES. Closing rates at the last London sale were as follow:—Halfbred, 56's to 58s good to super, 12d; low to medium, BV£d to llVid; 50's to 56's, good to super, lOd to 12d; low to medium, 7V£d to 9%d; fine crossbred, 48's to 50 s, good to super, 7d to 9%d; low to medium, 5d to 6Vt>d; 46s to 48's, good to super, 6d to 7"/£ d; low to medium, 49id to s'/&d; crossbred, 44's to 46's, good to super, sV£d to 6%d; low to medium, 4%d to sVid; 40's to 44's, good to super, sVtd to 6d; low to medium, 4%d to sd; coarse crossbred, 36's to 40's, good to super, 5d to 5%d; low to medium, 4d to 4%d.