THE WOOL MARKET

Evening Post, Volume CXXVII, Issue 110, 12 May 1939, Page 12

THE WOOL MARKET

LONDON PRICES

CROSSBRED DEMAND

"PROSPECTS GOOD"

I (By Telegraph—Press Association —Copyright.) ' (Received May 12, 11.30 a.m.) ' LONDON, May 11. I Offerings at the wool sales today ! were 9658 bales, including 5632 New Zealand, 8271 being sold. An average selection met with continued active demand from the home section of the trade. Withdrawals were chiefly confined to the best slipes and the best merinos, owing to firm limits placed on them. New Zealand sales were:—Crossbred "Moeraki," Bid; greasy halfbred "Vernon," 103 d; slipe halfbred, lambs "Belfast," 15^d. Throughout the whole series 69,600 bales were offered, and 61,500 were sold, of which 36,000 bales were New Zealand and 11,000 Australian. The home trade bought 41,500 bales and the Continent 20,000. Held over New Zealand, 7500; Australian, 23,000. The tendency throughout the series was irregular, with competition active. Compared with the closing prices of the previous series, greasy merinos were sold at par to 5 per cent, lower; scoured merinos and fine greasy crossbreds sold at par; crossbreds, medium and coarse, were 5 to 10 per cent., and slipes 10 to 15 per cent, higher than for the last series.

The Bank of New Zealand, produce department, has received the following advice from its London ofiice under date May 11:—The sales have closed very firm and prospects are good, especially as regards crossbreds. Current quotations for wools of average condition:—Merino: Super, 60-64's, 14d to 14_d per lb; ordinary, lid to 12d; inferior, B_d to 9_d. Halfbreds: 56-58's, lid to U'id; 565, l'J.ct to lid; 50-56's, 10d to lid. Crossbreds: 50's, 10id to Hid; 48-50's, 10_d to Hid; 46-48's, lOd to lid; 44-46's, lOd to lid; 40-44's, lOd to lid; 36-40's, lOd to lid. Levin and Co. Ltd. have received the following cable from their London agents, dated May 11:—The auctions closed here today with a good tone. There was good general competition, the opening rates being maintained, with the exception of fine halfbreds, which are _d per lb lower, and slipe wools generally, which are sometimes in favour of buyers. The total quantity offered was 69,606 bales; sold 61,500 bales; carried forward, 31,000 bales, including 7500 bales from New Zealand. Wright, Stephenson, and Co., Ltd., and Abraham and Williams, Ltd., report having received cable advice from their London house regarding the London wool sales, reading as follows: — The sales closed before an average attendance of buyers, amongst whom competition was good. Continental and Bradford buyers were the chief operators. The selection of wools was good. For the series, 69,500 bales were offered, and 61,500 were' sold. We quote the following realisations:—Greasy merino: 60-64 yielding 48 per cent.. lOd; fine halfbred, 56-58, 62 per cent, 10£ d; halfbred. 50-56. 68 per cent;, lO^d; three-quarter-bred, 48-50, 74 per cent.. lOd; fine crossbred, 46-48, 75 per cent., lOd; medium crossbred, 44-46, 75 per cent., lOd; crossbred, 40-44, 76 per cent., 10^d; coarse crossbred, 36-40, 76 per cent.. 10£ d; crossbred lambs, 46-50, 74 per cent., lOd. Australian merino, scoured and slipe wools were firm.

Dalgety and Company, Limited, report:—Wool sales closed with competition active and animated. Home trade principal operators, fair support from Continent. As compared with closing rates of lftit series, greasy and scoured merino and greasy halfbred, par; scoured halfbred. par to _d higher; fine greasy crossbred, _d; medium and coarse greasy crossbreds. id to %d; scoured crossbred fleece, par; scoured crossbred pieces, etc., _d to id; slipe halfbreds, _d to Id; slipe fine- crossbred, slipes, Id to l_d; medium and coarse crossbreds, Id to l_d; blanket slipes, id; greasy crossbred lambs, par to _d, all higher. The following is the range of prices:—Merino, G-S 12id to 15d, L-M 8d to 12d; halfbred, 56/58's. G-S lHd to 13d. L-M 9_d to lid; halfbred, 50/56's, G-S lid to Hid, L-M 9Jd to 10' id; fine crossbred, 48/50's, G-S IOJd to ll_d, L-M 9id to lOid; fine, 46/48's. G-S lid to lljfd, L-M 9d to 10£ d; 44/46's. G-S 10? dto ll_d. L-M 83d to 10id; 40/44's. G-S 10-Jd to lUd, L-M 8?d lo lOd; coarse crossbred, G-S 10£ d to-lljd, L-M B,d to lOd; 36/40's, quotations nominal.