LONDON WOOL SALES

Press, Volume LXXXIX, Issue 27208, 27 November 1953, Page 3

LONDON WOOL SALES

MODERATE EASING TENDENCY SCOURED MERINOS SELL FREELY (N.Z. Press Association—Copyright) LONDON, November 25. Prices for consignments catalogued at the London wool sale today showed a moderate easing tendency from the high level ruling at the last London close early in October, although competition from both the home trade and the Continent was keen. Among the scourecs a few lots of South Island Merinos sold freely at prices much the same as those paid in September ana early October. There was also good bidding for the majority of scoured hali> breds and crossbreds, of which selection was fair. Prices for fleece wools, however, were 2Va per cent, cheaper, and for skirtings, especially locks and crutchings, 5 per cent, cheaper. The selection of New Zealand greasy wools was small and comprised early shorn types, mainly from Auckland, Wellington, and Southland. Better selections, especially *halfbreds, will be offered later in the series.

A crossbred, branded Dunluce from Blenheim, which had been reclassed by the C.L.W.8., sold to the top price of 74Jd for 56-58’s quality, while 10 bales of 56’s fetched 70‘Ad and the necks Among the crossbreds, seven bales or 50-52’s early shorn wool branded LC from Riverton, in Southland, realised 63%d with 48-50’s making 63d. Subsequently. 16 bales of 46-50’s branded Te Mania from North Canterbury, realised 62d making 63d.

Average Lambs Easier The considerable quantity of slipe included a good proportion of lambs of full combing length, and the good lambs commanded prices well up to previous closing levels. Average styles, however, were 5 to 7Mt per cent, cheaper, and similar declines were noted for seconds, sheep and washed wools. Among Australian Merinos in the offering, of which all States, except Victoria and Tasmania were represented, best spinners’ styles were mostly 2‘,'2 per cent cheaper than early October and topmaking descriptions 5 to 7>/ a per cent, cheaper, the accent of decline being on broader qualities and on wool carrying considerable vegetable fault. South African Merinos, however, were seldom more than 2*,2 per cent, cheaper. The majority of sellers were prepared to meet the market, and in consequence the clearance was satisfactory, the quantity sold going in more or less equal proportions to the home trade and the Continent. In a supplementary report, the committee of London woolbrokers adds that the strength of demand for New Zealand greasy crossbreds was undoubtedly caused by the low stock position of these wools at mills in Britain and on the Continent. During September, the last month for which figures are available, the output of crossbred tops in Bradford was higher than in any other post-war month, and there is every reason to believe that much the same rate of output has been maintained since then.

None of the wool from the first sales of the selling season in New Zealand has yet reached this side of the world, and large-scale arrivals cannot be expected before January. The relatively small quantity catalogued today therefore attracted keen competition from topmakers, who needed crossbred wool to cover orders for delivciy in the near future. Several pre-lamb shorn halfbred clips from Marlborough, South Canterbury and Southland have arrived for the series, but only one branded “Dunluce,” from near Blenheim, was catalogued today. Auckland wools, also- early shorn, sold to for 10 bales of 48-50’s quality. A few South Island scoured clip wools, of fine quality, were available, and they sold to 144 ‘/ 2 d, which a buyer, acting on behalf of a firm in Germany, paid for four bales of 60’s quality and finer, branded Clenthills. This price was, however, exceeded when a firm in Scotland paid 145 (id for eight bales of 64-60’s quality, offered on a merchant’s account.

Merino crutchings from Mesopotamia Station fetched 102’,' 2 d. Quarter-bred fleece of 60-58’s quality, offered on a merchant’s account, realised and four bales of halfbred fleece of 56-58’s quality branded “S” and “N” stroke, Clenthills, made 101£d. North Island scoured crossbreds were also in good demand, although prices were a little easier.