LONDON WOOL SALES

Press, Volume XCIII, Issue 27913, 9 March 1956, Page 15

LONDON WOOL SALES

greasy crossbreds mainly steady (New Zealand Press Association) __ LONDON. March 7. The market for New Zealand greasy crossbreds was generally steady on the basis established last Friday, when the London wool sales were resumed with an offering of 10.000 bales, says the i eport issued jointly by the Committee of London Wool Brokers and the London agency of the New Zealand Wool Commission. There were 7402 bales from New Zealand. Once again the Home Trade was the principal buyer, but the Continent continued to give valuable support and took a larger proportion of the offering than at last week’s sales. Bidding generally was keen and a good tone prevailed with the result that there was an almost total clearance. Nearly 5500 bales of the New Zealand selection comprised greasy crossbred'clips, almost all of which were from the North Island. All districts were represented, but the largest weight came from Gisborne and Wellington. These wools were mostly of good style, as was the smaller quantity from Hawke’s Bay. but clips from Auckland and Taranaki were of only average style. The decline in prices which has persisted over recent weeks was very largely checked in the case of better styles, especially finer qualities. Prices for average to inferior wools, which comprised only a small part of the offering, again moved slightly in the buyers’ favour. Some 800 bales of NewZealand scoureds were also catalogued. They comprised mainly off-sorts from Hawke’s and Wellington clips, and prices for them followed the same trends as in the case of greasy descriptions. The market for slipes. of which nearly 1100 bales were included, was weaker. Most grades were 21 per cent, cheaper than on Friday, and off-sorts were rather neglected. Australian greasy Merinos continued to attract keenest competition at prices which seldom showed any change from last week’s level. AUCKLAND SALE ON MONDAY (New Zealand Press Association) AUCKLAND. March 8. JJore than 30,000 bales of wool will be offered at the third main Auckland sale of the current season on Monday. As the sale would be the first in the North Island since the recession in values, it was difficult to forecast the probable level of prices, said the chairman of the Auckland Wool Brokers’ Association, Mr H. Duke, this evening. It was likely, however that prices would be roughly on a par with London rates. The quality of wobl was very similar to that offered in January, said Mr Duke, and some very nice lines had come forward. As a general rule, however, the quality was not as good as that of last year.