ACTIVE MARKET

Dominion, Volume 28, Issue 114, 7 February 1935, Page 12

ACTIVE MARKET

Close of London Wool Sales

RUSSIA BUYS N.Z. CROSSBREDS

By Telegraph.—Press Assn.—Copyright.

London. February 5. At the wool sales 5829 bales were offered, including 1208 from New Zealand, and about 4838 Australian and New Zealand bales were sold. The series closed firm. Home competition declined somewhat toward the end, but German and Russian buyers bought freely, and French and Belgian buyers were fairly active. Compared with December closing rates, merinos, greasy Continental style, were 5 per cent, dearer, sorts suitable_ for Bradford at par, scoureds a good 5 per cent, up, and faulties at par. Crossbreds, good style, maintained the opening advance of from 5 to 10 per cent. Topmaking sorts eased slightly and closed at from par to 5 per dent. up. ■ The total wool catalogued was 104,(W4 bales, and there was sold: Home market, 59,500; Continent market, 09,000, United States, 1000. There were held over 78,000 bales. The total Australian wool sold was 72,000 bales and New Zealand 39,000 balesNew Zealand halfbred lamb, slipe, Makarewa, 1/- ; ditto, crossbred lambs, highest 10Jd„ average 9 5-Bd. The “Yorkshire Observer” says that it is estimated that nearly 4000 bales ot New Zealand greasy crossbreds were purchased at the London sales on Russian account up to Friday night. In addition, good weights of greasy scoured merinos, many lots of which were withdrawn at the beginning of the sales, have been reoffered to realise from to more, Russian buyers paying the increase. Some buyers estimate that the Continent has taken three-quarters of the greasy crossbred offerings since January 24, 65 per cent, being on Russian account.