LONDON WOOL SALES

Press, Volume XCIX, Issue 29173, 6 April 1960, Page 23

LONDON WOOL SALES

With prices 5 per cent, up on February rates, the March series of London wool sales closed on a good note. The London office of the Bank of New Zealand reports that the New Zealand offering of 37,780 bales (out of a total catalogue of 52,042 bales) was predominantly greasy wool. Opening rates showed an immediate rise of 5 per cent., with the emphasis on fine and medium crossbreds, and under strong and sustained competition very firm values were maintained. The demand for lambs was outstanding, but on the final day they were a shade easier. Scoured wool showed a more modest rise at the opening, but the position was corrected at the end of the first week, skirtings selling particularly well. Better style slipe wool was keenly sought at the outset, but it developed into a sellers’ market and on the final day there was some irregularity of price, although competition remained steady. Throughout the series combing wool was in particular demand, and Australian greasy merino persistently hardened.