BETTER WOOL PRICES

Greymouth Evening Star, 17 September 1946, Page 4

BETTER WOOL PRICES

DOMINION OFFERINGS AT LONDON SALES “AN AUSPICIOUS OPENING” [N.Z.P.A. Special Correspondent.] LONDON, September 16. Compared with the level of prices when sales by the Joint Organisation ceased on June 30 before the recommencement of regular auctions, realisations for New Zealand wools during the first two days of the London sales show an increase of 7 2 - to 10 per cent, for greasy crossbreds; 10 to 15 per cent, on scoured crosbreds; par to 10 per cent, on fine slipe lambs: 5 to 7| per cent, on medium slipe lambs; and 15 per cent, on slipe sheep clothings and seconds. Forty-eight thousand bales ot New Zealand wool, mostly scoured and slipes, will be offered during the three weeks series of sales which opened in London this week. “Prices realised' at the London sales indicate what should be an auspices opening to the new selling season in New Zealand,” said Mr. F S. Arthur, manager of the , United Kingdom—Dominions Wool Disposals, Ltd., commenting on the results of the first two days of the London sales. “These prices, with those realised in October at Liverpool and Bradford, combined with the offerings of Joint Organisation’s stocks in New Zealand between September and the beginning of the new season in November, will provide a good test for the crossbred market.” Mr. Arthur said that the selection of New Zealand wool offered in London, while not by any means representative of the New Zealand clip, still' provided an indication of what might be expected at the New Zealand sales. The bulk of New Zealand offerings already auctioned in London had brought relatively high prices because of the urgent demand from various quarters for wools which could be put straight into manufacture without further labour in processing. This was largely because of labour shortages and likely to be transitory, but nevertheless everything pointed to level values being established in New Zealand, which would provide a good but not extravagant return to growers.