WOOL FIRMER.

Auckland Star, Volume LXX, Issue 29, 4 February 1939, Page 4

WOOL FIRMER.

i PRICES AT INVERCARGILL. ; BETTER THAN EXPECTED. 1 ; FRENCH BUYERS PROMINENT. ; (By Telegraph.—Press Association.) ) INVERCARGILL, Friday. Southland Wool growers to-day received •- the benefit ot the first upward tendency dn the market for wool since the decline which occurred about the middle of last •month. The market for the first layerca'rgill sale of 24,000 bales was very firm and showed an improvement of from a farthing to a halfpenny per pound come pared with recent northern sales. s While prepared for reduced prices compared with last year, growers found the sale above their expectations, and .practicl ally fche wlhole catalogue was sold. For q -lots which were passed there was con--0 sidcra.ble activity between- buyers and U brokers after the sale, and the carry-over 3 of wool will be" negligible. [j French buyers dominated the marts ket throughout the sale. From the outU set it was apparent that they were in the market for crossbred wool as well as piece ■ wools, which normally attract French J competition at Invercargill. Bradford t> buyers were also keen and lifted a considt> erable proportion of the catalogue, but [j they had to extend their limits to meet the strong Continental competition, [j Good General Demand. [> There was a good, demand from all t) quarters, smaller proportions of the offer- [» ing going to Japanese, German, Russian, g Belgian and American tbuyers. [j As has occurred elsewhere this season, 1 fine wools suffered the greatest reduction compared with last year, but coarser I grades of erossbreds, which comprised the j ibulk of the catalogue, showed a much 3 smaller reduction, and in some cases 3 actually brought the same prices as at the first sale last year. ' The wool was in fair condition, but the ' effects of t'he dry autumn last year and the shortage of winter feed were evident, with the result that there was probably •it greater percentage of shabbier grades of 1 crossbred wool than usual. Actualb r this class of wool was in greatest demand, and the catalogue appeared completely to suit ! the immediate reqquirements of buyers. The price of hogget wool was practically on a par with prices obtained in I northern centres, but crutchings and good , type crossbred ewe wools were distinctly [ firmer. Official Range of Prices. The following is the official range of

LONDON SALES. ACTIVE AT . CLOSE. PRICES LOWER FOR.-. SERIES^ (Received 11.30 a.m.) ! LONDON, February 3. At the wool sales to-day 6560 bales were offered, including 2798 from New Zealand, and 4609 were sold. There was a moderate selection and best descriptions met an active demand, while mediums and inferiors were frequently withdrawn. New Zealand greasy crossbred marked "Glenroa" made 9d to 994 d per lb; slipe. halfbred lambs, "Fairfield," 9d to 13d. Throughout the first series 109,800 bales have been offered, including 43,780 of New Zealand wool, and '91,500 were sold, including 38,000 New Zealand. The Home trade bought 56,500 bales, and the Continent 35,000. • The tendency throughout was generally steady and competition active. Best topmaking Merinos closed between • par and 5 per cent lower compared with, the last series, in December, and warspinners per cent lower; good scoureds 7% per cent lower, brokers pieces and locks 5 per : cent lower, finer crossbreds 5 to 10 per cent lower, mediums nearly 10 per cent lower, coarse 5 per cent lower, slipes and longer wools practically unchanged, and others from par to 5 per cent lower. Scoured slipes closed at 10 per cent lower. THE BANK'S REPORT. i The Bank of New Zealand has received the following advice from its London office under date of February 3:— | "The sales have closed firm for all wool, with a good demand mainly from "the Home trade. "Current quotations for New Zealand wool: Greasy Merinos, super 60/64's, 13d to 14d; ordinary eO/Oo's, 10% dto ll J /4d;< inferior 60/64's, 8d to 8%d.~ Greasy halfbreds, 56/58's, 1094 d to ltt4d; 56's, 1094 d to 11% d; 50/56's, lOd to U%d. Greasy crossbreds, 50's, lOd to 10V£d; 4S/50's, 9%d to lOVid; 46/48's, 9%d to lOd; 44/46 , 5 1 9%d to lOd; 40/44's, 9%d to lOd; 36/40's, 9%d to lOd. All good average condition." FIRMER AT BRADFORD. LONDON, February. 2. The Bradford market is firmer and business more encouraging. Following to-day's quotations and those of _recent weeks:—

, prices:— d. (1. 1 Lincoln. .. 12$ to 135 ' Southdown— A super 10 to 115 ' B super S to 92 • Halfbred, 50-50— Super 102 to 115 Average 10 to 105 Inferior . 9 to 92 Extra Fine Crossbred, 48-30— Super 10J to 11 Average 9J to 10 Interior 9 to 91 Pine Crossbred, 40-4S— Extra super 115 to 12. Super 10 to 11 . Average 91 to 92 Inferior 8 to 9 Medium Crossbretl, 44-40— Super ■/. 92 to 105 ' Average 9 to 9 J Inferior S to 9~ Coarse Crossbred, 40-44— Super 9J to 10 Average S:| to 91 Inferior 75 to Si Hogget— • 40-56 92 to 103 48-50 95 to 11 ,40-48 . 9 -to 105 44-40 . 95 -to 10 Necks— . Fine * 10 to 102 Crossbred 9 to 10 Pieces— ■;:■.•] • • Crossbred: Good to super SI to 91 Average .... Qi to S . Bellies— «* Crossbred — Good to super S to S2 Average 7 to 72 Crutchings— Medium to good .... 7J to 95 Inferior and seedy .. 6 to 7 Locks 41 to 52

Jan. Jan. Jan. Jan. Feb. 5. 12. 10. 26. 2. Per Per Per Per Per lb. lb. lb. lb. lb. <1. d. d. d. d. Seventies .... 20 26 26 26 26* Sixty-fours ... 25 25 25 25 °5 : Sixties . 24 24 24 24 24 Fifty-eights .. 21 21 21 21 *>l Fifty-sixes' ... 10 10 10 10 10 Fifties 17, 17 17 17 17 Fifty-sixes* 16 16 16 16 16 Forties 16 . 16 16 16 16 *Xominal. •