CLOSE OF SERIES

Evening Post, Volume CXXVII, Issue 29, 4 February 1939, Page 12

CLOSE OF SERIES

(By Telegraph—Press Association—Copyright.) (Received February 4, noon.) . LONDON, February 3.

At the wool sales 6560 bales were offered, including 2798 from New Zealand, and 4609 were sold. A moderate selection of the best descriptions met an active demand. Medium and inferior sorts were frequently withdrawn.

New Zealand greasy crossbred "Glenora" sold at 9^d. Slipe halfbred lambs from Fairfield realised 9d average and 13d highest. • Throughout the first series 109,800 bales were offered, including 43,780 from New Zealand, and 91,500 were sold, including 38,000 from New Zealand. The Home trade bought 56,500 bales and the Continent 35,000. The tendency throughout was generally steady and competition active. Best top-making merinos closed at par to 5 per cent, lower compared with the last series in December, war-spinners were 7i per cent, lower, good scoured 7i per cent, lower, brokers' pieces and lots 5 per cent, lower, fine crossbreds 5 to 10 per. cent, lower, mediums nearly 10 per cent, lower, coarse 5 per cent, lover. Slipes and longer wools were practically unchanged. Others were from par to 5 per cent, lower. Scoured slipes were 10 per cent, lower.

The New Zealand Loan and Mercantile Agency Co., Ltd., have received the following advice from their London house:—

London wool sales, 1939: The first series closed today. The market was firm and Yorkshire were the chief buyers. Bales offered totalled 109,700 whilst bales sold amounted to 91,500. As compared with last sales closing rates prices were as follows:—Merino, lambs, greasy, id per lb lower; scoured inferior, id to ld per lb lower; scoured super, ld per lb lower; scoured medium, Id to lid per lb lower. Crossbred, coarse, greasy lambs, medium slipe, id per lb lower; medium, fine slipe, id to Id per lb lower; fine greasy, fine scoured, ld per lb lower. Quotations for good average New Zealand greasy, fleece wool: 64's, 10ld to lid: 60-64's, lOd to lid; 56-58's, TOid to lid 565,; lOd to lid; 50's, 9IJd to. 10id; 48----50's, 9id to 10id; 48's, 9d to IOd; 46-48's 9d to IOd; 46's, 83d to 9£d; 44-46's, Bfd to 9fd; 40-44's, Bgd to 9gd; 40's, Bid to 92d.

The Bank of New Zealand, produce department, has received the following advice from its London office under date February 3:— The sales have closed firm for all kinds of wool. There is a good demand, mainly from the Home trade. Current quotations for wools of average condition: Merinos, super, 60/64's, 13d to 14d; ordinary, 60/64's, 10|d to Hid; inferior, 60/64's, 8d to B£d. Halfbreds, 56/58's, 10|d to Hid; 56's, 10M to ll^d; 50/56's, lOd to 10id. Crossbreds, 50's, lOd to 10id; 48/50's, 9%d to lOJd; 46/48's, 9|d to IOd; 44/46's, 9id to IOd; 40/44's, 9|d to IOd; 36/40's, 9id to IOd!

Murray, Roberts, and Co.. Ltd., have received the following wool market cablegram from their London agents:— "Sales have closed firm, competition keen. Bradford buyers principal operators, Continent operating moderately. Compared with last London sales closing rates, greasy merino, best descriptions, declined part to 5 per cent.; greasy merino, other descriptions, declined 5 per cent.; scoured merino, best,- declined 5 per cent.; scoured merino, other descriptions, declined 5 to 10 per cent.; crossbred, greasy fine, declined 5 per cent.; crossbred, greasy medium of good lustre and breed, declined 5 per cent.; crossbred, greasy medium, inferior descriptions, declined 7i per cent.; crossbred, greasy coarse, of good lustre and breed, declined 5 per cent.; crossbred, greasy coarse, inferior descriptions, declined lh per cent.; crossbred, scoured and slipe crossbred declined 5 per cent." t

Messrs. Wright, Stephenson, and Co., Ltd., and Abraham and Williams, Ltd., have received the following cable advice from their London house regarding the London wool sales: —"The sales closed before a large attendance of buyers. The market continued active and competition good, with Continental and Bradford buyers the chief operators. Bales offered for the series totalled 105,000, of which 91,500 were sold. The selection of wools was good. JWe quote the following average realisations: —Greasy merino, 60/64, yielding 48 per cent., IOd; greasy fine halfbred, 56/58, yielding 62 per cent., 10£ d; greasy halfbred, 50/56, yielding 68 per cent., IOd; greasy three-quarterbred. 48/50, yielding 74 per cent., 9id; greasy fine crossbred, 46/48, yielding 75 per cent., 9id; greasy medium crossbred, 44/46, yielding 75 per cent., 9Jd; greasy crossbred, 40/44, yielding 76 per cent., 9|d; greasy coarse crossbred, 3b/4U, yielding 76 per cent., 9fd; greasy crossbred lambs, 46/50, yielding 74 per cent, 94d. Scoured remained firm at last prices, while good top-making wools were Id above ordinary. Australian merino was in favour of sellers. Messrs. Levin and Co., Limited, have received the following cable from their London agents, dated February 3:— "The auctions closed here today with a good tone. There was good competition, but mainly irom the home trade The total quantity offered was 109,771 bales sold 91,500 bales, carried forward 52,000, including 15,000 from New Zealand. Compared with the. opening rates, we quote:—Greasy merino, best id per lb lower, average id per Lb lowlr; fine halfbred, 50. .56's, id to id per lb lower; extra fine crossbred, AK/m's id to. id per lb lower; fine medium crossbred, 44/46 s, id to id per lb lower; cbarse crossbred, 40/44 s, id to id per lb lower; low crossbred, 36/40's, id to |d per lb. lower; slipe wools, generally no change.