WOOL MARKETS

Evening Post, Volume CXII, Issue 90, 13 October 1931, Page 12

WOOL MARKETS

SYDNEY AND LONDON

(United Press Association—By Electric Telegraph—Copyright.) • SYDNEY, 12th October. At the wool sales to-day 11,860 bales were offered and 11,019 bales sold at auction; also 1337 bales were disposed of privately. Prices were very firm at the closing rates of last week. Competition was well sustained by Bradford, Japan, France, and Germany. Crossbreds showed a hardening tendency. Greasy merino made up to U&d.a -.Ik _..- ~.--, -. N ..... j The average price of the wool sold last | week was £10 lls lOd per bale, or 7.9 d: per Ibr- The Australian average for the first three months of the present season is £9 14s 2d per bale, or 7.4 d per Ib. The Department of Agriculture has received the following cablegram, dated 10th October, from the High Commissioner:— "Sajes closed 7th instant after extension of three days. Competition good, _ but prices' during first week further declined. After the suspension of the gold standard, demand and competition became exceptionally keen, but as sterling became steadier I values reacted .slightly. Compared with closing rates last series, merino finished about par, fine crossbred 10 per cent, to 15 per cent.; medium to coarse, 10 per cent.; slipe fine 10 per cent, to 15 per cent.; others, 5 per cent, higher. Average closing values are: 64's super (nominal) lOd to lid; average (nominal), 8d to 9d; 56-58's, average to super, lOd to Is; 50-56's, B%d to 9%d; 46-48'b, 6%d to 7%d; 36-44's, 6d to 6%d. "There were 174,500 bales catalogued, and 154,500 sold, Home trade taking 90,500, Continent 62,000, America 2000. Carry over 131,500, including 121,500 not offered. "Next scries commences 24th November."