WOOL FIRMER IN LONDON

Press, Volume LXXIV, Issue 22305, 20 January 1938, Page 13

WOOL FIRMER IN LONDON

Opening of January Series CROSSBREDS ACTIVELY SOUGHT uianriD press association —copy-right.) LONDON. January 18. Values from par to 5 per cent, better for almost all classes of wools ruled at the first series of London colonial wool sales for 1938. which qpenec. yesterday. Exceptions to the firming tendency were short-haired inferioi merinos.

The offering totalled 7792 bales, including 1497 from New Zealand; 6565 bales were sold

New Zealand lots sold as follows: Canterbury slipe halfbred combing lambs, 10;|d to 143 d; slipe crossbred combing lambs. 9:‘d to 13d. There was a large attendance of Home and Continental buyers, and the Home trade nciively sought all New Zealand greasy crossbreds available. Prices for best scoured and greasy merinos and crossbreds were 5 per cent, dearer than the closing rates a* the last series. Medium scoured and greasy merinos and crossbreds were unchanged. Coarse scoured and greasy merinos and crossbreds were 5 per cent, lower. Before the sale there did not seem much enthusiasm over the prospects. It was agreed that some of the host wool of the season would be offered, but few dealers were willing to lorefast the probable prices

SMALL NEW ZEALAND

SELECTION

MARKET STILL IRREGULAR

Private advice was received in Christchurch yesterday that the sales opened on Tuesday before a large attendance of buyers, and although competition was often spirited the market was irregular. France, Belgium, and the Home trade were the principal buyers. and Russia was also operating. The only representative New Zealand greasy wools on offer were crossbreds. no finer qualities being available.

Fine crossbred (46, 48’s> show an improvement on November closing rates of id to ?.d. and coarse crossbreds have improved by Id.

CHRISTCHURCH SALE

RETURNS

GREATLY REDUCED

TOTAL

FIRST AUCTION FIGURES

A substantial decrease in the returns ffom the first Christchurch wool sale of this season, when compared with the first sale in the previous season is shown in the official futures of th Christchurch Woolbrokcrs’ Association. Returns and averages were, however, larger than those in the 1935-36 season though the offerings were fairly closely comparable. . p qto 097 The total realisation was from 22,856 bales sold compared with i* (131 649 from 28.060 bales in the 1936-37 season and £321,280 from 21 640 bales in the previous season. The average prices per lb were 12.502 d this season 17.271 d in the 1936-37 season, and 10.963 d in thb previous season. The following table gives a comparison of the figures for the three seasons. 1935. 1936. 1937. Shales) 22,586 28.547 23.651 Sold (bales) 21,640 28,060 22,856 Value £321,280 £631.649 £372.827 Av per lb 10.963 d 17.271 d 12.502 d Av. a bale £141611 £22 10 2 £1616 3 DAIRY PRODUCE LONDON MARKET PRICES Bv arrangement with the Primary Products Marketing Department, the i follownig information is supplied;— Butter New Zealand, salted 112 s up to 113 s (last week 112 s); New Zealand, unsalted 114 s (113 s to 114 s): Australian salted, Ills to 112 s (110 s to Ills); Australian, unsalted 112 s up to 113 s. Market quieter at the close. New Zealand retail price Is 2d. Danish, 113 s f.0.b., 135 s spot (114 s to 1355). Market steady. Danish retail price Is 4d. Dutch, unsalted 112 s, exceptional 116s' (slow). (114 s); Lithuanian, unsalted 116 s (116 s). Cheese New Zealand, white 68s to 68s 6d up to 69s (65s to 65s 6d); New Zealand, coloured, 69s to 69s 6d (66s to 66s 6d); Australian, white 64s to 66s (62s to 63s 6d); Australian, coloured, 64s to 67s (63s to 64s 6d). Actual demand throughout week at increasing price. Market now practically bare of available supplies. Canadian, white and coloured, 73s to 74s (72s to 735, 73s to 745); English, finest farmers, 96s to 98s (96s to 98s). Market steady. New Zealand retail price unchanged 9d. COLOMBO TEA AUCTION (PRESS ASSOCIATION TEI.KIi HAII.I DUNEDIN, January 19. Mr L. M. Wright has received the following cabled report on the Colombo tea auction of January 18: — “Fine and good quality teas remained firm at last week’s rates. Common and medium grades were irregular, and slightly easier. At next week’s auction, 2,250,0001 b will be offered.” PRICE OF GOLD LONDON. January 18. Gold is quoted at £6 19s a fine ounce.