LONDON WOOL SALES

Dominion, Volume 32, Issue 65, 9 December 1938, Page 14

LONDON WOOL SALES

Prices Somewhat Irregular

GOOD DEMAND AT CLOSE

By Telegraph.—Press Assn. — I Copyright.

LONDON, December 7.__ At the Loudon wool sales today 7157 bales were offered, including 2764 New Zealand, and 5621. were sold. ,A moderate selection was submitted. Withdrawals were frequent all round. New Zealand greasy halfbred. Aelaud.” sold at lOld. Throughout the series _104,200 bales were offered, including 39.54)0 New Zealand. and 85.500 were sold, including 31,500 New Zealand. Best greasy merino closed at par with the closing’ rates of September series. Good average wools were 5 per cent, down. Short stapled, 7} per cent, lower; bulky scoureds declined 24 per cent., and ordinaries were 5 per cent, lower. Crossbreds, tine, sold at par to 5 per cent, down, and medium to coarse at par with September.

The following cabled reports were received yesterday by Wellington houses: — Bank of New South Wales: —London wool sales closed tonight. Compared with opening, good greasy merinos, unchanged ; inferior and scoured descriptions, slightly cheaper. All crossbreds generally in buyers’ favour. Average or estimated prices of New Zealand greasy fleece ordinary topmaking wools: — d. Merino, 60/64 11 Fine halfbred, 56/5S 11

Halfbred, 50/56 11 Threequarter-bred, 48/50 10} Fine crossbred, 46/48 10-4 Medium crossbred 44/46 104 Crossbred, 40/44 ... 10’1

The Bank of New Zealand, produce department: —The sales have closed with good inquiry from all branches of the trade, but with prices somewhat irregular. Current quotations for wools of average condition : — Merinos— d. d.

Levin and Co., Ltd.: —The auctions closed here today with good general competition, though there was rather an easier tendency for inferior descriptions. The total quantity offered was 104,219 bales; sold. 85,500 bales; carried forward, 51,000, including 16.500 from New Zealand. Compared with the opening rates, we quote:—Greasy merino: Best, unchanged: average, }d. a lb. lower. Fine halfbreds, 50_/56’s t unchanged All crossbreds, id. a lb. lower. Slipe wools generally, unchanged. . Dalgety and Company Limited : —bales closed with competition fairly animated. Home trade principal operators. Good support from Continent, specially France. As compared with closing rates of last series:—•

Greasy merino, par to id. lower. Greasy average and inferior merino, 4d, to id. lower.

Scoured super merino, at par. Scoured average to good merino, id. to Id. lower. Scoured inferior merino, Id. to 14d. lower.

Greasy halfbreds, at par. Scoured good to super halfbreds, at par; Scoured average halfbred, id. to id. lower.

Greasy fine crossbred, at par. Greasy medium and coarse crossbred, at par. Scoured fine crossbred, par to Id. lower. Scoured medium and coarse crossbred, par to Id. lower. Fine slipes, par to id. lower. Other descriptions slipes at par. Greasy crossbred lambs, 4d. to Id. higher. Superior crossbreds, nominal; practically none offered. The following is the range of prices:—

Merino— d. d. Good to super 12f Low to medium 84 to 13J Halfbred, 56/5S’s — Good to super 11J to 13} Low to medium 94 to 11} Ilalfbred, 50/56’s— Good to super 11} to 12} Fine Crossbred, 48/50’s —- Good to super 11 to 11} Low to medium 9} to 10} Fine Crossbred, 46/48’s — Good to super 11 to 1.14 Low to medium 9} to 10} Crossbred, 44/46’s — Good to super 10} to 11} Low to medium 9} to 10} Crossbred, 40/44’s — Good to super 104 to 11} Low to medium 9} to 10r Coarse Crossbred, 36/40’s — Good to super 101 to 11} Low to medium 9} to 10}

Murray, Roberts and Co. Ltd.: —Sales have closed, competition moderate; all sections operating moderately; compared with last Loudon sale’s closing rates, greasy merino declined 5 to 74 per cent.; best descriptions show the least decline; scoured merino declined 5 per cent.; wool

suitable for tbe Continent market shows no change. Crossbred greasy fine, medium, coarse and scoured, market shows no change; slipe crossbred par to 5 per eent. decline.

Wright, Stephenson and Co., Ltd., and Abraham and Williams Ltd.: —The sales closed before an average attendance of buyers. The market remains unchanged or, if anything, a little lower. Competition was good witli Continental and Bradford buyers the chief operators. American buyers were not operating; 100,000 bales were offered for the series, of which 85.000 were sold. We quote the following average realizations

Greasy merino, 60/6-1, yielding -18 p.c H Greasy tine halfbred, i>6/i»8. yielding 62 p.c 11 Greasy three-quarterbred, -18/50, yelding 71 p.c Ill} Greasy fine crossbred, 46/48, yielding 75. p.c 10 J Greasy med. crossbred, 44/46, yielding 75 p.c Greasy crossbred, 40/44, yielding , 76 p.c .... 104 Greasy coarse crossbred, 36/40, yielding 76 p.c 104

Australian merino was slightly in favour of buyers with lambs’ slipe wool steady. New Zealand Loan and Mercantile Agency' Company, Ltd.: —The sales closed firmly today. Competition for crossbred was active, and prices were firm. Home buyers were the principal operators, but competition on French account was fairly active. As compared with last sale's closing rates prices were as follows: —- Merino, lambs, par to jd. a lb. higher;

merino, super and medium scoured. }d. to Id. a lb. lower; merino, inferior. Id. a lb. lower; merino, ' superior greasy, par to 4d a lb. lower; merino, medium greasy, 1 ( L to Id. a lb. lower; merino, inferior greasy, id. a lb. lower; crossbred, medium and coarse and slipe, and lambs, par to id. a lb. higher.

Super, 60/61’s ..... 14 to 144 Ordinary. 60/64's .. 11 to 12 Inferior. G0/64’s • • • < .. 84 to 9 Halfbreds — 12J 56/58’s .. 12 to 56’s .. 11J to 12 .. 11 to 114 Crossbreds — .. ioi 50's • to 11 .. 104 to 10J 4g/48’s .. 101 to 10J 44/40’s .. 101 to 10J .. 101 to 101 36/40’s .. 101 to 101

Closing Closing rates rates N ov. Sep. series series d. d. N.Z. merino, 60/64’s, yielding 48 p.c .. 11J UJ Halfbred, 56’s, yielding 64 12 Sup. Fn. Xb., 50’s, yielding 11 Fine Xbred, 48/50’s mixed prep, and card, yielding 72 p.c 101 io? Fine Xbred, 46/48’s mixed prep, and card, yielding 74 per cent 101 lOJ Med. Xbred, 44/46's prep. yielding 67 p.c 10? 10? Med. Xbred. 44/46's card. yielding 74 p.c 10} 10} Coarse Xbred, 40/44's, yielding 75 p.c 10} 10} Low Xbred, 36/40’s, yielding 76 p.c None None