LONDON WOOL SALES

Dominion, Volume 31, Issue 237, 4 July 1938, Page 12

LONDON WOOL SALES

Market Prospects Doubtful CROSSBREDS MAY DECLINE The Bank of New Zealand, produce department, has received the following advice from its London office under date j u i v 1;—The prospects lor the next series of sales are doubtful. Prices for merinos are expected to show no change. Medium and coarse crossbreds are generally expected to decline a half-penny. At the series of London wool sales which closed on May 20 there was keen competition throughout. Ihe following .dosing rates for wools of average condition were reported by the London office ot the Bank of New Zealand:— Per Jb.

WOOL, SKINS AND HIDES Palmerston North Sale At the Palmerston North wool, skin, hide and tallow sale held by Abraham and Williams, Ltd., on June 30, a large catalogue was offered to a full bench ot buyers, and competition was very keen throughout the sale with values advancing. Values for all grades of wool were id- to id. better. Sheepskins showed an advance of 4d. to Jd. a lb. Hides were up id. to 5-Sd. a lb. Tallow showed no change. The following is the range of values:— Wool: Crossbred, 7d. to BJd.,; dead, 6d. to 7d.; crutchings, 5Jd. to 6:14.; locks and pieces, 3d. to 4}d. Sheepskins: Fine Ist, ijd. to Sid.; fine hoggets, 7d. to 7Jd.; hoggets, 7FL. to Bd.; three-quarter to full wools. Bd. to Sid.; quarter to half wools, 7d. to Sid.; crossbred, damaged. 6d. to 7d.; lambs, 6id. to 7d.; pelts, 2}d. to 3,?.1. Hides: Ox, heavy, 6 3-Bd. to 6 7-Bd.; ox, medium, 6d. to 6Jd.; ox, light, 4Jd. to 5d.; cow, heavy, 4 3-Sd. to 4 7-Bd.; cow, medium, 4|d. to 4 5-Bd.; cow, light, 4sd. to 4 5-Bd.; yearlings, sd. to 7i<l.; calf, light, Ist, 7 7-Sd. to Bid.; calf, light, 2nd. 7 5-Sd. to 7 7-Sd.; calf, cut, 6Jd. to 6 7-Sd. Tallow: In drums, Ist, 14/-; in tins, Ist, 6/6 to 8/6. RAW MATERIALS Sharp Rise In Rubber By Telegraph—Presa Assu.—Copyright. (Received July 3, 6.30 p.m.) London, July 2. Friday's closing prices for the following raw materials were as follows, those for June 24 being shown in parentheses: Cotton : Liverpool quotation, good American middling, spot, 4.96 d. a lb. (4.65 d. ; August delivery, 4.83 d. a lb. (4.69d.i. Rubber: Para, GJd. a lb. (6RL) ; plantation smoked ribbed sheet, 7 id. a lb. (6 11-16 d.). Jute: July-August shipment, Indian jute. Dundee quotation, £lB a ton (£l6 18/9). Copra: July-August shipment, sundried South Sea, to London <tr Rotterdam, £9/17/6 a ten (£10) ; smoked, to Marseilles or Genoa,. £9/17/6 a ton (£10) ; plantation, Rabaul, to London or Rotterdam, £lO/17/6 a ton (£11). Linseed oil: £26/5/- a ton (£25/15/-,). Turpentine: 32/- a cwt. (same). FROZEN MEAT TRADE Market Generally Brghter The Bank of New Zealand, produce department, has received the following advice (from its London office, as at close of business last week: —Larger supplies of wethers have caused prices to weaken. The market for ewes is quiet and unchanged. There Is a fair demand for lambs, but second quality is weaker. The market for chilled beef is steadier. Trade generally is brighter, with a better demand. Wethers, light, 5 1-Sd. to 5 7-Stl. a lb.; heavy, 4Jd. to sd. Ewes, 2 7-Bd. to 4d. Lambs. 2’s, 7 3-Sd. to 7<}d.; B's, 7 3-Sd- to 7^d.; 4p,_ i 3-Sd. to TJd.; seconds, 7dl to 7Jd. Chilled hinds. 4*5-S(l. to 5 l-Bd.: fores. 2 5-Sd. to 3. l-Bd. . . , The Bank of Australasia has received the following cable, dated London, July 1, from its London office: —Frozen lambs: Owing to continued limited supplies prices maintained until about the middle of the month, larger quantities arriving during the past fortnight, made prices slightly lower affecting the secondary lambs more than prime quality; demand continues satisfactory. Frozen mutton: New Zealand wethers meeting with fair demand and small stocks kept prices firm ; recent, arrivals, however, have increased stocks. Ewes and Australian mutton : Rather slow trade; market somewhat easier. Frozen beef: Fair demand, market continues steady. Gold Mining Returns The Worksop Extended return for the week ended June 30 totalled 77 ounces for 135 hours from 12,006 yards. Th New River Dredge returned 24 ounces from 11,000 yards for 126 hours. On account of repair work there was no wash-up Ittst week by White’s Electric. By 'telegraph— I’tesc Assortative Dunedin, July 3. The Gillespie’s Beach return for the week ended July 1 wa s 670 z. for 131 hours’ work. British Treasury Bills (British Official Wireless.) Rugby, July 1. The total amount applied lor in tenders for £45.000,01) of Treasury bills was £81,850,000. The average rate per cent, for bills at three mouths was 10/5.33. against 10/9.18 a week ago.

Merinos— d. Super, 60/64’s / Ordinary, 60/64’s .... 1to 14.? to J i> Inferior, 60/64‘s dj to 10 Ilalfbreds — , to 12| 5(5’ s Il* to 12 to 11} Cross-bred s— to 5O’s 10} 11 4R/50'« 10} to 101 46 /48’s ............. HO to 104 44/40's -10 to 10} to 10} 36/40 s . lu to 10} Dalgety and Co., Ltd., quoted i lowing range of closing prices:— the folPer lb. d d. Merino — ■ dd. to 10} Half bred, 5G/5S's — to Good to super ...••••» 1-i 13 J to 12 Halfbred, 50/56's— Good to super 11} to 12} Low to medium 9} to 10} Fine crossbreed, 48/50's — 12 to Low to medium 9} to 10} Fine crossbred, 46/48's — 111 Good to super 10} to Low to medium 9} to 10} Crossbred, 44/40’s —- 11} Good to super ...... 10i to to 10 Crossbred, 40/44’s —- to to 10 Coarse crossbred, 36/40’s — 114 Good to super 10J to Low to medium 9 to 10