London Wool Sales Prices Decline

Press, Volume CVI, Issue 31161, 10 September 1966, Page 25

London Wool Sales Prices Decline

f.\ Z P.A. Reuter— Copyright f

LONDON, September 8.

The London September wool sales opened today and selling will be continued at 9.30 a.m. tomorrow, Friday. As expected, values showed the decline which had taken place since the last London sales on July 21 and, with financial stringency overshadowing the operations of the home trade, buying tended to be selective.

The joint official report of London Wool Brokers, Ltd., and the London agency of the New Zealand Wool Commission says that, compared with July closing rates, greasy medium crossbred fleece eased 2} per cent, but second-shear crossbreds and lambs were 7j per cent down. Good style South Island scoured Merinos and halfbreds, however, were a very strong market and some extreme prices were realised, up to 106 d for Merinos and up to 94td for halfbreds. Bulky scoured crossbreds showed practically no change from July rates, but good sec-ond-shears declined 2| per cent and shear skirtings 2J to 5 per cent. Among slipes, halfbred lambs lost 2| to 5 per cent, crossbred lambs 5 per cent, halfbred lambs seconds 5 per cent, and crossbred lambs seconds 71 per cent. Sheep slipes declined 5 to 10 per cent.

Some 15,400 bales of New Zealand wool are being offered over the two days of selling, and the selection is mainly of interest to the woollen trade, as the great bulk of this quantity is made up of scoured wools and slipes.

The 1400 bales in the grease comprise a somewhat miscellaneous selection of combing crossbreds, secondshears and oddments, and a small consignment of South Island superfine Merinos. The 5000 bales of scoureds

embrace a comprehensive range of North Island secondshear crossbreds and short wools together with a fair proportion of bulky types, including some stylish South Island superfine Merinos, prelamb shorn halfbreds, and fine crossbreds. Most of the freezing works are represented in the 9000 bales of slipes, and pullings span several months’ of production in a good all round selection of woolly lambs, shorn lambs and sheep.

Off sorts, however, account for a fairly large proportion of the quantity of slipes catalogued.

Price Range The official range of prices is:—

Greasy Merino. 70 s. 74's— d. d. Good to super Fine Medium Crossbred, 48'50’s, 72 to 73 Average .. Crossbred Secondshear, 46*s-52's— 43 to 46 Good 46 to 494 Good to average First Crossbred, 48 s, 52’s— 42 to 44 Good 46 to 4R4 Good to average Scoured Merino, 70, 74’s— 43 to 45 Good to super Fine Halfbred, 58’s, 58 /60’s— 102 to 106 Good Halfbred, 56, 56/58* s91 to 944 Good Fine Crossbred, SO56* s— 87 to 92 Good Crossbred, 48/50*s — 75 to 76| Good Crossbred Secondshear, 46/50's — 68 to 714 Good 59 to 61