LONDON WOOL SALES

Dominion, Volume 31, Issue 55, 29 November 1937, Page 14

LONDON WOOL SALES

Marked Decline In Prices

CROSSBREDS WELL DOWN

Imndoii, November 26.

'[’he wool sales concluded with an offering of 9340 bales, of which 4494 bales were from New Zealand, and 7631 bales were sold. There was a fairly good selection which met ap improved demand for the best kinds. Throughout the series 73,400 bales were offered, and 57,000 bales were sold. The Home trade bought 29,500 bales and the Continent 27,500. The tendency throughout was steady at the decline, and competition was keen. Compared with the closing of the previous series prices were I<> to 25 per cent, lower. New Zealand slipe halfbred, lambs, “Canterbury.” sold at 14id. highest and 12|d. average. About 31,000 bales of Australian wool and 28,000 bales of New Zealand were held over for the next series. Merino's sold throughout at 15 to 25 per cent. 'lower; Bradford toptnaking styles were 25 per cent, lower, crossbreds and fine crossbreds opened at _2O per cent, lower, passing farther to 25 to 30 per cent.' Alodium counts similarly fell. Stipes were in large supply and gave way by 30 to 35 per cent. •

The following cabled reports- on the London wool sales were received on Saturday by Wellington houses: — Bank of New South Wales:—Loudon wool sales closed with merinos fully firm at opening rates, but_ all qualities of crossbreds are now 5 per cent, cheaper. Average or estimated pjjees of New Zealand greasy fleece ordinary topmaking wools:—

Merino, 60/64 .... I 124 Fine halfbred. 56/58 13-J IJalfbred, 50/56 13 Three-quarter-bred, 48/50 Hi Fine crossbred, 46/48 —.. 101 Medium crossbred,. 44/46 104 Crossbred, 40/44 - .... 104 Bank of New Zealand, Produce Department:—The sales have closed with fair competition. Merinos are steady. Crossbreds show an easier tendency. Current quotations:— Merinos — d. d.

36/40’s 10 to 104 Dalgety and Company, Limited: Wool sales closed active, brisk competition. Home trade principal operators, but Con-tinent-operating more freely for merino. As compared with closing rates of last series (September) :—Greasy merino, 3Jd to 4d. lower. ’ Scoured merino, 4Jd. to ssd. lower. Greasy halfbred, 3jd L to 4d. lower. Scoured halfbred, 44d. to sd. lower. Greasy fine crossbred, 4d. to 4|d. lower. Greasy medium and coarse crossbred, 4d. to 4Jd. lower. Scoured crossbred, -Id. to sd. lower. Slipes, all descriptions, 54d. to fid. lower. The closing range of prices is as follows: —

Levin and Co., Ltd.: —The auctions closed here to-day. There was only fair competition. Total quantity offered, 73,365 bales; sold, 57,000 bales; carried forward, 60,500 bales, includihg 28,000 bales from New Zealand. Compared with the opening rates, wc quote:—Greasy merino, best, unchanged; average, 4d. to Id. per lb. lower. Fine halfbreds, 50-56’s, Id. per lb. lower. Extra fine crossbreds, 48-50’s, Id. lower. Fine crossbreds, 46-48's, Id. lower. Medium crossbreds, 44-46’s, Id. lower. Coarse crossbreds, 40-44’s, Id. lower. Low crossbreds, 36-40’s, Id. lower. Slipe wools, generally, Id. lower. New Zealand Loan and Mercantile Agency Company, Limited :—London wool sales: The sixth series closed to-day. A total of 73,000 bales were offered, 54,000 being sold. Yorkshire and Continent were the chief buyers. Prices as compared with fifth series were 3d. to 4<l. per lb. lower for medium and inferior merino, inferior scoured merino and lambs’ wool; 4d. per lb. lower for super greasy merino and coarse scoured crossbred ; 4d. to sd. per lb. lower for super and medium scoured merino, medium crossbred and coarse greasy crossbred; sd. per lb., lower for fine crossbred ; sd. to 6d. per lb. lower for medium and coarse crossbred slipe: Gd. to 7d. per lb. lower for fine crossbred slipe. Market weak with little prospect of improvement. Quotations for good average New Zealand greasy fleece wool: —

Murray, Roberts and Co., Ltd.:—Sales have closed firm ; competition keen. Continental buyers operating freely; Home buyers operating more freely. Compared with last London sale's closing rates: Greasy merino, best descriptions, declined 15 per cent.; greasy merino, other descriptions, declined 20 to 25 per cent.: scoured merino, best, declined 10 to 15 per cent.; scoured merino, other descriptions, declined 20 to 25 per cent.; crossbred, scoured, declined 25 per cent.; crossbred, greasy, and slipe crossbred, declined 30 per ceut. Wright, Stephenson and Co., Ltd., and Abraham and Williams, Ltd.:—The sales closed before an average attendance of buyers, among whom competition was good Continental and Bradford buyers were the chief operators. A total of 73,000 bales have been offered in the series to date, and 57,000 bales have been sold. We quote the following prices:—

Greasy line halfbred, 56/58, yielding 62 per cent i;jj llalfbred, 50/56, yielding 68 per cent 13 Three-uarter-bred, 48/50. yielding 74 per cent 114 Fine crossbred, 46/48, yielding 75 per cent 10S Medium crossbred, 44/46, yielding 75 per cent 101 Crossbred, 40/44, yielding 76 per cent 10J Coarse, 36/40, yielding 76 per ceut. 10} Crossbred lambs, 46/40, yielding 74 per cent 11} Sliped, scoured, and merino prices were at par, while Australian merino prices were from par to 5 per cent, higher, with halfbreds and crossbreds also at par. London Share Markets London, November 26. On the last day of the Stock Exchange account the markets opened cheerfully, but the volume of business was less, although prices were maintained. Oil and rubber shares were firm.

Super, 60/64’s Ordinary, 60/64 .... Inferior. 60/64 . . 14 .. 124 .. 104 to 15 to 134 to 11 Halfbreds — 56/58’s .. 13 to 13-A t -* _ _ _ — - - - .. 121 to 12-J 50/56’s ..... -■ to 12 Crossbreds — 50’s .. 111 to 111 48/50’s ...... .. 104 .. lot to 11 46/48’s to 104 44/46’s .. 10 to 104 40/44’s ... .. 10 to 101

Merino — d. d. Good to super 134 to 16 Low to medium 10 to 13 Halfbred, 56-58’s — 1-1 Good to super to 15 4 Low to medium .... 104 to 13-i Halfbred, 50-56’s — Good to super 12 to 14 Hi Low to medium 101 to Fine Crossbred, 48-50's — 114 124 Good to super to Low to medium 10 to 11-1 Fine Crossbred, 46-48’6 — 121 Good to super JU to Low to medium to 11 Crossbred, 44-46’s — 121 Good to super . — ... hi to Low to medium 91 to 11 Crossbred, 40-44’s— 12 Good to super ii to 'Low to medium 94 to 10} Coarse crossbred, 36-40’s— Good to super 11 to 12 Low to medium to 10}

d. 12 to d. 14i} 60/64's 11J to 14 56/58’s 13' to 131 12J to 13 50's .. 11' to 12J . 48/50’s 11 to 12 48's 10 J to 114 40/48’s ioj to Hi