THE WOOL MARKET

Dominion, Volume 31, Issue 98, 20 January 1938, Page 12

THE WOOL MARKET

London Sales Open Well STRONG COMPETITION London, January 18. The January series of wool sales has opened with prices at par or even 5 per cent, better all round on the closing rates of the November series. Exception has. to be made, however, for short-haired and inferior merinos. The catalogue offered was 7792 bales including 1479 bales New Zealand and 6565 bales were sold. New Zealand “Canterbury” slipe halfbred combing lambs sold 10}d. to 14jd. per lb.; slipe crossbred combing lambs, 9|d. to 13d. There was a large attendance of home and Continental buyers. The home trade actively sought all the New Zealand greasy crossbreds available. Prices for the best scoured and greasy merinos and crossbreds were 5 per cent, dearer; medium scoured and greasy merinos and crossbred* were unchanged; and coarse’scoured and greasy merinos and crossbreds were 5 per cent, lower than the closing prices of the last series in November.

The following cabled reports were received yesterday by Wellington houses: — Bank of New Zealand, produce department : The sales have opened with strong competition and a large attendance of buyers. Prices are somewhat irregular. Compared with the close of last series, superior crossbreds are one penny higher, average sorts par to a halfpenny dearer. New Zealand merinos not represented. Bank of New South Wales': London wool sales good and general competition from Continent , Home trade and Russia. Compared with last sale's close, greasy merinos unchanged, greasy crossbreds and slipes par to 5 per cent, dearer. Average or estimated prices of New Zealand greasy fleece, ordinary top-making wools; Merino. 601 b. to 641 b.. 12$d. Fine halfbred. 561 b. to sSlh„ 13$d. Halfbred. 501 b. to 561 b.. 13d. Threequarter-bred. 481 b. to 501 b.. 11 Jd. Fine crossbred, 461 b. to 481 b., 11R1. Medium crossbred, 441 b. to ‘161b., IOJd. Crossbred. 40 to 441 b., lOfd. Bank of Australasia, from Bahne and Thomas, woolbrokers: London Colonial wool sales, medium crossbred* and coarse crossbreds, par to 5 per cent, dearer; scoured crossbreds, firm and unchanged compared with closing rates of last series, competition good. Principal buyers expected to be France. Home trade and Russia. New Zealand Loan and -Mercantile Agency Company, Ltd.: —London wool sales: The first series opened to-day. Keen general competition, all sections, including Russia, operating. Average to good selection submitted and an excellent clearance effected. Prices for superior ami merino, and greasy slipe crossbred, are in seilei's' favour. Merino top-makers’ sorts are fully firm. Shabby and wasty merino and pieces and bellies are ip buyers’ favour.

Dalgety and Co., Ltd.; Sales opened; large attendance. Strong competition, good selection. French principal operators, with good support from other Continental sections and Home trade. As compared with closing rates of last series:— Greasy super merino, par to id. higher. Greasy and average and inferior merino. par to Id. lower. Scoured merino, unchanged. Greasy halfbreds, id. to Id. higher. Scoured halfbreds, unchanged to rather lower. Greasy crossbreds, par to id. higher. Scoured crossbreds, par to Id. higher. Ilalfbred slipes, Id. to 14d. higher. Medium and coarse slipes, Id. to i|d. higher. Blanket slipes, id. to Id. higher. Russia operating for greasy super crossbreds, Id. to lid. above these quotations. Murray, Roberts and Co., Ltd.: Sales have opened with a good tone, competition keen. Compared with last London sale’s closing rates, greasy merino, best descriptions, advanced 5 per cent.; greasy merino, medium to good market, shows no change; greasy merino, inferior, par to 5 per cent, decline; scoured merino declined 5 per cent.; crossbred greasy, poor selection offered, insufficient to test the market; crossbred, scoured, advanced 5 per cent.; slipe crossbred advanced 5 to 7$ per cent. All sections operating moderately. Leviyi and Co., Ltd.: The auctions opened to-day with a large attendance of Home and Continental buyers. There was good competition, all sections of the trade buying, particularly the Continent, including Russia, for greasy crossbreds. As at. present arranged, the sales will close on February 3, 1938. Compared with the closing rates of last sale we quote:— Greasy merino, best, sd. per lb. higher. Greasy merino, average, unchanged. Fine halfbreds, 50/56’s, sd. per lb. higher. Extra fine crossbreds, 48/50’e, sd. to Id. per lb. higher. Fine crossbreds, 46./48’s, sd. to Id. per lb. higher. Medium crossbreds, 44/46’s. sd. to Id. per lb. higher. Coarse crossbreds, 40/44'e, sd. to Id. per lb. higher. Low crossbreds, 36/40's, id. to Id. per lb. higher. Slipes, generally, id. to Id. per lb. higher. Wright, Stephenson and Co., Ltd., and Abraham and Williams Ltd.: The sales opened before an average attendance of buyers between whom competition was good. Continental and Bradford buyers were the chief operators, with Russian buyers ' operating freely. An average selection of wools was offered. Greasy merino, 60/64 yielding 48 per cent., 12Jd. Greasy fine balfbred, 56/58 yielding -18 per cent., 13id. Greasy halfbred, 50/56 yielding 68 per cent., 13d. Greasy three-quarterbred, 48/50 yielding 74 per cent., lljd. Greasy fine crossbred, 46/48 yielding 75 per cent., lljd. Greasy medium crossbred, 44/46 yielding 75 per cent.. Hid. Greasy crossbred, 40/44 yielding 76 per cent., 103 d. Greasy coarse crossbred, 36/40 yielding 76 per cent., 10id. Greasy halfbred lambs, 56, very little offering. Greasy crossbred lambs, 46/50, very little offering. Sliped prices were from par to 5 per cent, higher. Scoured merino and Australian merino were firm nt last prices. Good topmaking wools were id. above ordinary types and crossbred wool par to 5 per cent, higher. New Zealand Farmers’ Co-operative Distributing Co., Ltd.: Wool sales opened to-day, to good attendance and competition. Prices compared with the close of the last series: Greasy merinos, good to super, par to 5 per cent, up; greasy merinos, low to medium, par to 5 per cent, down ; scoured merinos, par; greasy crossbreds, par to 5 per cent, up; scoured crossbreds, par; slipes, par to 5 per cent, up. Total available, 116,200 bales.

Antwerp Wool Futures By Telegraph.—Press Assn.—Copyright. Antwerp, January 18. Wool futures are quiet. Quotations: March, 24)d.; May, 24d.; July, 24d, The quotations on January 11 were:— March, 23}d.; May, 23}d.; July, 23Jd. The prices arc for 64’s tops, dry combed. Emperor Mines, Fiji Emperor Mines, Limited (Fiji), has received the following cable, uiji'r date January 7: —“All sections of new plant now operating, experiencing some trouble with wet ore in crushing section after heavy rain. Through-put approximately 300 tons daily.’’ The message refers to the new treatment plant only. In additions, the original treatment plant is tion, the original treatment plant is being run in, and it is expected that the through-put .will now gradually increase to its full capacity.

Colombo Tea Auction

By Telegraph.—Press Association. Dunedin, January 19,, Mr. L. M. Wright has received the following cabled report on the Colombo tea auction of January 18: Fine and good quality teas remained firm at last week’s rates, common and medium grades were irregular aud slightly easier, xkt next week’s auction 2.250,0001 b. will be offered. N.Z. Pound Abroad Based on figures quoted by the Bank ot New South Wales, the New Zealand pound, compared with Its original par value, Is equivalent to approximately:— 16/1 m London. £l/0/1 in Australia. 16/5} U.S.A. 10/5} In Canada. 19/- In France. 10/5} In Italy. 9/8} in Germany. 11/10 in Java. £l/8/1 In Japan.