LONDON WOOL SALES

Press, Volume XCIII, Issue 27909, 5 March 1956, Page 17

LONDON WOOL SALES

N.Z. CROSSBREDS EASIER (N.Z. Press Association—Copyright) LONDON. March 2. Competition today was very much the same as on Wednesday, but the downward drift of prices for New Zealand crossbreds continued when the London wool sales resumed with an offering of 7000 bales, of which 5329 bales were from New Zealand, says a report issued jointly by the Committee of London Woolbrokers and the London agency of the New Zealand Wool Commission. The bulk of the New Zealand offering comprised North Island greasy crossbreds, of which 4550 bales were available. Fewer than 400 bales of scoureds and 300 bales of slipes made up the remainder. Nearly all the greasy clips were from Gisborne and the East Coast. Hoggets were in less plentiful supply than Wednesday, and ewe wool in medium to fine qualities predominated. Style was generally average to good. With more medium quality wool available, the proportion of the offering taken by the Home trade showed an increase, but the Continent was still the principal buyer of the smaller weight of fine wool. Prices for fleece were barely maintained on Wednesday’s level, while those for skirtings and for lambs, excepting best styles, were 2J per cent, cheaper. On this basis competition was reasonably widespread, and the rapid rate of selling was maintained with almost a full clearance. As far as could be ascertained from the limited nature of the offering prices for scoured crossbreds and for slipes were also 2j per cent, cheaper.