LONDON MARKETS

Evening Post, Volume CI, Issue 48, 25 February 1921, Page 8

LONDON MARKETS

Tho Department of Agriculture has received tho following- cablegram, dated 22nd instant, from the High Commissioner for New Zealand, London: — "Wool sales commenced yesterday with free- sales, of which 4703 bales Australian, 585 bales New Zealand, and 1887 bales River Plate were offered. Good attendanco, but bidding irregular, and general tendency showed reduction, on last sale's prices of 10 per cent, to 15 per cent merinos, and fine and medium crossbreds 10 per cent; coarse crossbreds were not well compted for. About 85 per .cent, offering cold. At Government sales which followed, good representative selections brought, forward, including 4800 bales Australian and ,1300 bales New Zealand. Competition hesitating, and prices generally 10 per cent, to 15. per cent, below those realised at last Government sales, 21st January, though at tho reduction about 62 per cent, of offering sold. New Zealand may be quoted: —36's to 40's (coarao crossbreds), 7jd to 8d per lb; 44's to 46's (medium crossbreds), Bjd to 9d per lb; 48's (fine crossbred), 9jd to 10j.d per Ib; 50's (half-breds),, lid to .Is Id per lb; 56's (half-brcds), Is 2d to Is 4d per lb. This weeks' Government offering will consist of: —

Australian—Merino: Greasy 9450 bales, scoured 1600 bales; next week, greasy 19,100 bales, scoured 3400 bales. Crossbred : Greasy 3200 bales, scoured 550 bales: next week's, greasy 10,200 bales, scoured 2200 bales.

New Zealand—Crossbred: Greasy 2550 bales, scoured 1650 bales, sliped 1400 bales; next week's, greasy 8350 bales, scoured 2900 bales, sliped 2950. -.

Five more sales free wool this series, and total offering will bo: —Australian, 30,000 bales; New Zealand, 10,000 bales, Cape of Good Hope and River Plate, 5000 bales."