WOOL MARKET

Evening Star, Issue 21076, 13 April 1932, Page 7

WOOL MARKET

THE LONDON SALES Press Association—By Telegraph—Copyright. LONDON, April 12. (Received April 13, at 9.15 a.m.) The wool sales have opened. Merinos were unchanged. Cross-breds were 5 to 10 per cent, lower. (Received April 13, at noon.) At the wool sales 9,717 bales were offered, including 3,195 from New Zealand. Approximately 3,600 were sold. There was a poor selection of merinos and a moderate lot of cross-breds. There was a good attendance and fair competition. Compared with the March closing rates, merinos (good) were unchanged. Continental sorts were 5 per cent, lower. Cross-breds were sto 10 per cent, and half-bred slipes 15 per cent, lower. New Zealand scoured combing, Walter Peak—top 17d, average 15id: greasy cross-bred, “ Ak,itio,”. 9d and 62d.

The National Mortgage and Agency Company of New Zealand Ltd. is in receipt of the undernoted cable from its Loudon office, dated 12th inst.:—“ The auctions opened hero to-day with a large attendance of buyers. Compared with the closing rates of last sales we quote:—Greasy merino (best), id to id per lb lower: greasy merino (average), id to Jd per lb lower; halfbreds, 60-56, id per lb lower; crossbreds—4 B-50 id •; j id per lb lower, 46-48 id to id per lb lower, 44-46 id to id per lb lower, 40-44 id to id per lb lower, 36-40 id to id per lb lower; slices—combing |d to Id per lb 'ver, clothing id to id per lb lower; scoured merinos, id to Id per lb lower. Messrs Dalgety and Co. Ltd. advise having received the following cablegram from their head office, London, dated 12th inst.:—Wool sales opened. Animated competition, large attendance, fair selection. Cross-breds predominating. Home trade principal operators. Continental buyers quiet. As compared with closing rates of last series greasy merino id to |d lower, scoured merino par to Id lower, greasy cross-bred fine id to id lower, greasy cross-bred medium and coarse id lower (except super-style little change), slipe wool Id to lid lower (except short id to id lower).

The Bank of New Zealand has received the following advice from its London office, under date 12th inst.: — The sales have opened with moderate competition and a large attendance of buyers. There was a moderate demand by the Home market, but Continental buyers are quiet. Compared with the close of last series cross-breds are halfpenny lower. Greasy merino was not represented, Messrs Murray, Roberts, and Co. Ltd. have received the following wool market cablegram from their London agents, Messrs Sanderson, Murray, and Elder Ltd., dated the 12th inst.: —Sales have opened. Competition fair, Bradford buyers principal buyers; Continental buyers operating cautiously. Compared with closing rates last London sales: Greasy merino, wool suitable for Yorkshire, declined 5 per cent.; wool suitable for the Continent declined 7| per cent.; scoured merino declined sto 10 per cent. Cross-bred greasy fine: Market shows no material change. Cross-bred greasy coarse to medium of good lustre and breed: Par to 5 per cent, decline. Other descriptions declined sto 10 per cent. Cross-bred scoured, best descriptions: Market firm. Cross-bred scoured, other descriptions, declined sto 7$ per cent. Slipe, fine cross-bred, declined 10 per cent.; slipe, coarse to medium cross-bred, declined 5 to 10 per cent. The New Zealand Loan and Mercantile Agency Company Ltd. has received the following cablegram from its London house, Under date 12th inst.:— There was a good attendance at the opening of the sales to-day, competition by Home and Continental buyers being fairly active, and prices as compared with last sale’s closing rates are lower $d per lb for scoured cross-bred, greasy merino medium, and greasy cross-bred; lower Jd to Id per lb for cross-bred slipe. The opening catalogues were fairly representative.