WANGANUI WOOL CRUTCHINGS

Press, Volume LXXXIX, Issue 27112, 7 August 1953, Page 13

WANGANUI WOOL CRUTCHINGS

PRICES IN LINE WITH RECENT SALES (New Zealand Press Association} WANGANUI, Aug. 8. The Wanganui Woolbrokers* Association reports officially as follows on its section of the crutchings sale held in Wellington yesterday:—"A catalogue of 5088 bales was offered. Most were crutchings which opened up in rather heavy condition. Due to the abnormal spell of wet weather, many lots were carrying mud and stain. Prices were in line with recent sales, and competition was good." The following is the official range of prices:—

FREE COPPER MARKET SHARP DROP IN PRICES AT OPENING (New Zealand Press Association) LONDON, August 5. London’s copper market reopened today for the first time since the outbreak of war in 1939 with an unexpectedly sharp drop in prices. First quotations were around £2OO sterling a ton for forward delivery, and £215 sterling for immediate delivery. The British Government’s previous peak price was £287 sterling, and its latest £252 sterling. Today’s prices were also appreciably below the latest New York price which, even after a small drop last night, equals £228 sterling. The pre-war price was only about £5O sterling. Foreigners are allowed to buy any copper in London, including dollar copper, with sterling. This means that any sterling used in the reopened market is automatically convertible.

First CrutchlngB, 46/50’s— Good to average .. ..38 to 42 Inferior .. .. 32 to 36 44/48’s— Good .. .. ..48 to 52 Average .. .. ..42 to 46 Inferior .. .. ..37 to 41 40/46’s— Good .. .. ..49 to .51 Average .. .. ..45 to 47 Second Crutchings— Average to good .. ..39 to 42 Inferior .. .. .. 30 to 34 Eye clips .. .. ..33 to 36 Early Shorn— Good .. .. ..48 to 52 Average .. .. .. 44 to 47