AUSTRALIAN SALES

Press, Volume XCVIII, Issue 28869, 14 April 1959, Page 19

AUSTRALIAN SALES

Further Rise In Prices (N.Z Press Association—Copynghtf MELBOURNE, April 13. Wool prices continued to rise at wool sales in Melbourne and Brisbane today. Prices were up to 2J per cent, higher than the closing rates at last week’s Sydney Sales, which recorded the first rapid increases of the season. Melbourne woolbrokers reported a total clearance of 16,465 bales at today’s Melbourne The selection was 35 per cent Merino from Western, North Central and the North East of Victoria, Gippsland and the south-east of South Australia. Strong general competition created buoyant selling conditions with prices of all descriptions 2£ per cent, above the closing rates at Geelong sales last week. The Continent, with Eastern European purchases, provided the main competition with support from the United Kingdom, Japan and local mills. Prices included super 60/64’s 79 jd per lb; good to super 56’s. 68d; good to super 50’s, 64d. Best Prices Since May The eighth series of Brisbane wool sales for the present season opened briskly today. Values for the wool offered, which was generally of good average Queensland standard, reached the highest level of the present selling season and were the best in Brisbane since last May. Prices were from 17J to 20 per cent. higher than Brisbane closing rates in March and were 2| per cent, higher than closing rates in Sydney last Thursday. Widespread and Jteen competition continued throughout the afternoon. The principal buyers were Japan, the Continent, Britain and Eastern Europe.