WOOL PRICES FIRM

Press, Volume XCIV, Issue 28130, 20 November 1956, Page 19

WOOL PRICES FIRM

130 D FOR MERINO IN MELBOURNE (N.Z. Press Association—Copyright) nr i MELBOURNE, November 19. Wool prices continued to move upward when sales were continued in Melbourne today. There was the strongest competition for some time, Japanese, Western European and British buyers operating freely. Top price was 130 d for four bales of fine Merino combings. Other prices included: super 60/64’s. llld per lb; good to super 56’s, 88d; good to super 50‘s, 76d.

ALTERED EXCHANGE RATES A sharp gain by the Canadian dollar—the largest weekly gain this year—was the main movement in foreign exchange rates last week. The £ sterling now buys 1 cent less Canadian currency than it did a week ago. Altered telegraphic transfer exchange rates, as advised yesterday by the Bank of New South Wales, are as follows: New Zealand on— Montreal: buying. 2.6753 dollars to £N.Z.I (compared with 2.6859 on November 12); selling, 2.6406 dollars (2.6511). France: 990 francs (988); 963 francs (961). Sweden: 14.52 kroner (14.51); 14.18 kroner (14.17). Switzerland: 12.23 francs (same); 11.99 francs (11.98). Western Germany: 11.71 marks (11.70); 11.47 marks (11.46). Italy: 1757 lire (1756); 1722 lire (1721). Ceylon: 17 29-32 d N.Z. to 1 rupee (same); 18 13-32 d (18gd).

Auckland Hide Market.—The market for all classes of hides remained very firm at the Auckland auction yesterday. With few exceptions values were steady. There was keen competition from tanners and exporters. The top price for abattoir cow hides declined to its lowest level since August 9, at 15ad. This compares with their highest price of 17gd for this year in the previous sale. Bidding for salted sheepskins was dull. The quality was fairly poor, and consequently prices showed a general slight easing. Half wools weakened considerably, realising 12s, against 15s 9d at the last auction. Sound pelts made 5s 3d, compared with 6s 6d a fortnight ago Shearlings realised 7s 9d. showing a de* cline of Is on the previous sale. Quarter wools and full wools were steady. Prices for small lots of deerskins ranged from 3s to 5s 4d—(P.A.)