LONDON WOOL SALES

Press, Volume XCI, Issue 27563, 21 January 1955, Page 12

LONDON WOOL SALES

GOOD CONTINENTAL COMPETITION

2) TO 5 P.C. RISE IN CROSSBRED VALUES

(N.Z. Press Association —Copyright) LONDON. Jan. I®. The market was strong under lively competition when the London wool sales continued today, with an offering oi 9700 bales. The offering in grease amounted to 4700 bales, all in crossbred qualities from the North Island. The wool sold freely at prices which showed an advance of 2$ to 5 per cent, over last Friday's dosing basis. Although the Home trade was still bidding as freely as at the opening of the series, the Continent obtained the majority of the fine hoggets as well as a considerable weight of other fleece wools and also many of the skirtings. A small weight of medium halfbred fleece wools were fully 5 per cent, dearer. Included in the offering of 1250 bales of slipes were some milk lambs from the new season, which were in keen demand at prices which moved against the buyer and ranged to 72d. The remainder comprised mostly odd lots from last season’s production, which continued to sell strongly. In a supplementary report the Committee of London Woolbrokers adds that although comparatively little new business is being placed on the Bradford top market at present, many firms evidently still have urgent requirements to satisfy. The principal reason for the advance in prices for greasy crossbreds was, however, an expansion of competition from the Continent. One buyer, understood to be acting on behalf of French firms took the majority of fine hoggets and war very ac;ive throughout the sales.

WOOL SALES IN AUSTRALIA

SYDNEY. January 20. Values _at the Newcastle and Golbun wool sales today were fully maintaineo compared with yesterday, the market closing very firm. There was practically a total clearance of the 9736 bales offered. Britain, the Continent and Japan were the main buyers. Crossbred prices included 93Jd for good to super 58’s. 82jd for good 1 58's, and 69d for good average 60’s with medium burr. The market at Goulbum was fully firm on Newcastle. There was a total clearance of the 1268 bales of crossbred and 948 bales of Merino offered. The Continent, Britain and local mills were the principal buyers, and they had some support from Japan and America. Crossbred prices included 105Jd ’ for good to super 60/64's, 105 d for good to super 60% HOjd Lor good 60/64’s. 91}d for good 58'., .nd 73Jd for good 50's. Values at the Melbourne wool sales today were generally the same as the rates established earlier this week. There was a very satisfactory clearance of the 14,347 bales offered. The main buyers were the Continent and the United Kingdom, with support from Japan and local mills. Crossbred prices included 101|d for super 80-64’s, 88d for super 58’s, 86d for super 56’s, and 74d for good to super 50’a

SOUTH AFRICAN WOOL CLIP

PRODUCTION AT HIGHEST LEVEL FOR 22 YEARS LONDON, JMI. 19 According to the Reuters correspondent at Port Elizabeth, South African wool production this year is running at the highest level for 22 years, and the season’s clip is likely to be the second highest in the country’s history. A senior official of the South African Wool Board said today that because of the decline in prices the clip would probably be vauled at least £30,000,000 rower than the record £90,000,000 realised in 1950-51. The official said the present clip would probably amount to 285,000,0001 b, but the texture depended largely on the aort Lamb clips are now reaching auetton salerooms from Natal, Transvaal, the Free State, and from East Griqualand. The average market price a pound for the first five months ended November 1954, was 52.15 d.