LONDON WOOL SALES

Evening Post, Volume CVII, Issue 85, 9 April 1924, Page 11

LONDON WOOL SALES

PAUSE IN BISE OF PRICES.

fr&OM OUR OWN COREESPONDBHT.)

LONDON, sth February. Although interfered with by fog for one day, the London wool sales have been continued under excellent conditions and the end of the first week found the trade still actively interested in buying the raw material. Prices for merinos are mostly 7 to 10 per cent, over last series, and there is an average advance of 15 per cent, in all descriptions of crossbreds.

. At yesterday s session, the large offerings oE greasy crossbred received from' New Zealand, consisting chiefly of medium and lower grades, met a brisk sale to Yorkshire buyers, while most of the finer grades Were secured for the Continent, the best lots at 33d per lb „T l 'h orS, I s. r% s°n satisfaction (says The Daily lelegraph") that the advance is not more, and there appears not the slightest necessity for higher Prices lor any class of raw material. Iho standard of values must be regarded as high for all descriptions of wool there now being much less disparity between medium and coarse crossbreds and rtiermos. As the year advances this difference will probably become much tess marked, and many are buyintr 46' s and below in the full expectation 0 that these wools will show a further appre ciation. For the time bein" it looks as if prices had touched the top and there is a strong disposition to' con solidate prices and inaugurate a steady buying programme. There is real wisdom in this movement, for prices have certainly advanced greatly. Wool values generally speaking, are relatively well in advance of the prices of other commodities, and id is significant that mcr mo Wool is to-day well on the top side of 100 per cant, .dearer than in 1914 compared with about 70 per cent, for commodities generally.