THE LONDON SALES

Evening Post, Volume CXIV, Issue 69, 19 September 1932, Page 10

THE LONDON SALES

OPENING' TO-MORROW

The outlook for wool appears compara-

tively Bright. Nothing has happened since ', they were made to upset predictions of a rise of Id* to l%d per. pound for the finer wools and %d to Id for medium and crossbred wools on previous London sales '; closing rates. But the price for American ; middling raw■ cotton in. the Liverpool market shows a slight decline this week, ' after a steady advance over the past three months. On 25th June the price for cotton, July delivery, was 4.38 d per pound, and it climbed to 6.57 d per pound on 3rd September for October delivery, fefl to 6.38 d ; on 10th September, and was quot&t at • 5.88 don 17th September. It is common 'knowledge in the textile trades that there T is:a. cloSe market relation■ between wool , and- cotton. - In considering the wool market generally and tin- particular that of Australia .*' in relation to prices in New Zealand, it < must always be borne in mind that of -'..'■. the wool offered in the Commonwealth , 84, per. cent, is merino and 16 per cent, crossbred and other strong wools, whereas ■ in .New Zealand the percentage is 3 per cent, merino and. 97 per cent, crossbreds : and coarse wools generally. The fashion .' demand has been and still is for the finer ■'.. qualities of wool, which, being extraordinarily cheap, are naturally preferred ■;■ to the rougher descriptions. -> ■ .' . The -wool available for the London sales -' opening ■ to-morrow amounts to 191,500 bales, of which it is'expected 186,750 bales 'i. ■will be offered, including 33,300 bales of , New Zealand wools.