LONDON WOOL SALES

Evening Star, Issue 22191, 20 November 1935, Page 14

LONDON WOOL SALES

BRISK COMPETITION MERINO IN STRONG DEMAND LONDON, November 19, (Received November 20, at 1.5 p.m.) At the wool sales 8,649 bales were ofi'ergd, including 5,278 from New Zealand. About 8,300 bales of Australian and New Zealand wool were sold. There was a' crowded attendance with brisk Yorkshire and Continental competition. United States buyers were taking slipes. Compared with October closing rates merinos, greasy, were 5 to 7J per cent, higher, scoured 10, cross-breds, greasy, line, 10, medium, coarse, and slipes 10 to 15 per cent. up. New Zealand greasy cross-bred, “ Hautotara,” top 13id, average 102 d. LOCAL AGENTS' REPORTS Messrs Dalgety and Co. advise having received the following cable from their head office, Lcftidon, dated 19th inst.: —Woo] sales opened with large attendance and fair selection. Home trade and - Continent wei’e active. As compared with closing rates of last series;—Greasy merino, scoured merino, Id to 13d higher; greasy half-breds, lid to l|d higher; scoured half-breds, Id to IJd higher; greasy cross-bred, fine, lid to lid higher; greasy crossbred, medium and coarse, |d to Id higher; scoured cross-breds, Id to lid higher; combing slipes, lid to Ifd higher: slipes, other descriptions, id to Id higher. The National Mortgage and Agency Company of New Zealand Ltd. has received the following cablegram from its London office, under date the 19th inst.: —“ The auctions opened here today with a large attendance of buyers and keen competition. Compared with the closing rates of last sales, we quote:—Greasy merino, best, Id dearer; greasy merino, average, Id dearer; half-breds, 50-56’s, Id dearer; cross-breds, 48-50’s, -Jd to Id dearer; crossbreds, 46-48’s, id to Id dearer; cross-breds, 44-46’s, id dearer; crossbreds, 40-44’s, fd dearer; cross-breds, 36-40’s, -Jd dearer; slipe wools generally, Id to lid dearer; scoured merinos, 2d to 2id dearer. All sections of the trade are buying. As at present arranged the sales will close on December 5.”

The Bank of New Zealand has received the following advice from its London office under date 19th inst.: — The sales have opened with strong competition and a large attendance of buyers. There was an active demand by home and foreign buyers. Compared with the close of last series merino is Id to IJd -higher, and cross-breds are 2d to Id higher. Messrs Wright, Stephenson, and Co. Ltd. have received the following cable from London; —The November sales opened with an average attendance of buyers, Continental and Bradford being the chief operators, American buyers competed sparingly. The market is firm, with animated competition. The selection of wool offered is of average quality, ,and we quote the following average realisations: —Greasy merino, 60-64, yielding 48 per cent., llijd; greasy fine half-bred, 56-58, yielding 6ti per cent., 11-Jd; greasy half-bred, 5056, yielding 68 per cent., 10id; greasy three-quarter-bred, 48-50, yielding 74 per cent., B|d; greasy fine cross-bred, 46-48, yielding 75 per cent., B|d; greasy medium cross-bred, 44-46, yielding 75 per cent., 8d; greasy cross-bred, 40-44, yielding 76 per cent., 7-J.d; greasy coarse cross-bred, 36-40, yielding 7 - 6 per cent., 7d; greasy cross-bred lambs, 46-50, yielding 74 per cent., BJd. Compared with the closing prices of the September series the present London sales show the following advances which are for average qualities only, both super-merino and half-bred showing higher advances: —Merino and fine half-bred, 3d per lb; medium halfbred, Id per lb; coarse half-bred, £d per lb; fine cross-bred, IJd per lb; medium cross-bred, Id per lb; ordinary and coarse cross-bred, 3d per lb; crossbred lambs, fd per lb. Our London office also reports that Australian merino prices are 7J per cent, higher. Scoured wools 5 to 10 per cent, nigher, lamb slipes 7i per cent, to 10 per cent, higher, and sheep slipes 15 per cent, higher. The New Zealand Loan and Mercantile Agency Company Ltd. have received the following cablegram from their London house, under date 19th inst.:—There was a full attendance at the opening of the sales to-day. The opening catalogues were representative. Competition by home and Continental buyers was keen, and prices as compared with the close of the preceding series ruled higher 5 per cent, to 7J per cent, for greasy merino and higher 10 per cent, for merino scoured and greasy cross-bred. Competition on German and French account is active.