LONDON WOOL SALES

Evening Star, Issue 22954, 11 May 1938, Page 12

LONDON WOOL SALES

OPENING OF NEW SERIES KEEN GENERAL DEMAND Press Association—By Telegraph—Copyright LONDON, May 10. (Received May 11, at 11.15 a.m.) The wool sales opened quietly, prices being unchanged. _ A total of 9,069 bales was offered, including 4,171 from New Zealand, and 7,082 were sold. There was a moderate selection, with a keen general demand, chiefly for good wools. Slipes and inferiors were frequently withdrawn. Slipes were from par to 6 per cent, lower. Others were unchanged from the closing prices of the last series. New Zealand greasy cross-bred, “ Meonstoke,” lOd and lid; “ HLT,” 8d and slips, half-bred lambs, “ Three Crown Gear,’' lOd and 12d.

AGENTS’ REPORTS Messrs Murray, Roberts, and Co. Ltd. have received the following wool market cablegram from their London agents, Messrs Sanderson, Murray, and Elder Ltd., dated 10th inst.: — Sales have opened with a good tone, competition keen, Bradford principal buyers; Continental buyers operating freely. Compared with last London sale’s closing rates: Greasy merino, poor selection offered; market shows a hardening tendency. Scoured merino: Market shows no change. Cross-bred greasy: Market irregular, and shows no material change. Cross-bred scoured: Par to 5 per cent, decline. Cross-bred slipe: Par to 5 per cent, decline.

The Bank of New Zealand has received the following advice from its London office, under date of yesterday :—Sales on the 10th opened with strong competition and a large attendance. There was a good demand from the Continent and home trade. Compared with prices at close of last series, merino is par to a farthing higher, and prices for cross-breds generally remain unchanged'.

Messrs Dalgety and Co. Ltd. have received the following cable from their London office:—Wool _ sales opened, competition being fairly animated, selection fair, with home trade principal operators. Continental buyers were quiet. As compared with closing rates of last series (March) greasy merinos, scoured merinos, and greasy half-breds were unchanged; scoured half-breds irregular, change, if any, in buyers’ favour; greasy cross-breds, unchanged; scoured cross-breds, irregular, any change in buyers’ favour; slipes (combings), unchanged; slipes (other descriptions), par to rather lower.

Messrs Wright, Stephenson, and Co. Ltd. have received the following cable from their London office; —The wool sales opened with the market active. There was a good attendance of buyers, and competition was keen. Continental and Bradford buyers were the chief operators, and the offering was an average selection. We quote the following average realisations for average qualities:—Greasy merino, 60-64’s, yielding 48 per cent., 12d ; fine half-bred, 56-58’s, yielding 62 per cent., 12Jd; half-bred, 50-56’s, yielding 68 per cent., 12d; three-quarter-bred, 48-50’s, yielding 74 per cent., 10id; fine cross-bred, 46-48’s, yielding 75 per cent., ' 9id; medium cross-bred, 44-46’s, yielding 75 per cent., 9Jd; cross-bred, 40-44’s, yielding 76 per cent., 9Jd; coarse cross-bred, 36-40’s, yielding 76 per cent., 9Jd; cross-bred iambs, 46-50’s, yielding 74 per cent., Hid- The market is firm, and prices are unchanged. # Scoured wools remain the same, but sliped wools are par to 6 per cent, lower.

The National Mortgage and Agency Company of New Zealand Ltd. has received the following cablegram from its London office, under date the 10th inst. The auctions opened here today with an .average attendance of buyers and fair competition. Compared with the closing rates of last sale the market is unchanged generally, although slipe wool is inclined to be in favour of buyers. As at present arranged the sales will close on May 20.”