WOOL MARKET

Evening Post, Volume CXIII, Issue 11, 14 January 1932, Page 14

WOOL MARKET

LONDON SALES

BETTER YEAR PREDICTED

(Received 14th January, 11 a.m.)

LONDON, 13th January

i At the wool sales, 7125 bales were offerfid, including "1600 from New South ■\Vales, 2210 from Queensland, 440 from .Victoria, 811 from .South Australia, S3O from Western. Australia, aud 1232 from Now Zealand. .Approximately b'o74 bales were sold. Competition was active both from Yorkshire and the Continent. Offerings were well cleared at full opening rates. Scoureds, Queensland Essex Downs, 19(1, lSd; South Australian, Waverley, 19d, 17Ud; Victorian, Torlea, 19d, 17d. Greusies, Queensland, Tinenburra, 10% d. 9M,d; New Zealand, lialf-bfcd s!ipe, Eclipse, lid, 10% d." -■ At yesterday's sales approximately 5400 bales were sold. New Zealand greasy crossbreds, Chesterbope, 9%d, 6%d; 88, 9%t1, 7d; scoured, Waterpark, 14Vid, Wiid.

Commenting on the outlook for the London'wool sales, Messrs. H. Dawson, Sons, and C'ompanjf, Ltd., forecast a better year. They declare that the combing mills have difficulty in meeting the demand for fine tops. There are indications of further orders for hosiery and dress goods yarns in the near future. The long spell of Yorkshire pessimism is being gradually dispelled, and the old idea that prosperity comes from cheapness has been exploded. Bradford feels it has passed the barren patch of losses and inadequate margins owing to the necessity of playing for falling markets. Messrs. Murray, Roberts, and Co.-, Ltd..: are in receipt of the following wool market 1 quotation from their London agents:— Opening Closing rates. rates Nov.Jan. series. Dee. series. d. d. New Zealand merino, 60/64's, yielding 4S ■per cent None ', S\i Halfbred, ofi'a, yielding 60 per cent. 10M 10Vi Super fine crossbred, 50's yielding 65 per ' , cent. T?i "vi Medium crossbred, 44/48, prep, yield 74 per - "■ ■ cent. ........ Gl,!' 6!i Medium crossbred, 44/40, : card yield 72 per cent 6 6>i Coarse-crossbred, 40/44's, -^ yielding 73 per cent. .. s\b, 5Vz

The Department of Agriculture has received the following cablegram, dated 13th instant, from the High. Commissioner for New Zealand^ ]jondon:—AVool sales opened Tuesday, with large' attendance aiid brisk competition, mainly from Yorkshire arid Germany. Bulk of offerings ' sold readily at firm prices, generally unchanged, compared with closing rates of last series.; 153,000 -bales available for series, of which SO.OOO are Australian, 65,000 New Zealand, and 3000 South American.