N.Z. WOOL PRICES AGAIN RISE 5% IN LONDON

Gisborne Herald, Volume LXXVII, Issue 23217, 31 March 1950, Page 5

N.Z. WOOL PRICES AGAIN RISE 5% IN LONDON

(N.Z.P.A. —Reuter—Copyright,.) (11 a.m.) LONDON, March 30 All the best features of last week’s strong market were again’evident when the London wool sales were resumed today with a offering of 20000 bales including 9950, bales from New Zealand. The Committee of London Wool Brokers report there was keen cornoetition for all qualities from both the Home trade and the Continent and that prices were up to 5 per cent above the level ruling at the end of last week. A good selection of crossbreds from all districts of the North Island was fully cleared. Some choice clips from the Masterton area selling particularly well.

Consignments of good-style lambs, especially from Hawke’s Bay, were again in strong demand on Continental and Scottish trade account and many lots realised extreme prices.

Several shipments of ofT-sorts, scoured on the growers’ account, were sought eagerly bv clothing trade manufacturers at prices that fully justified policy of scouring these lines and of shipping them to London, while values for slipes maintained last week’s rates.

MARKET STILL STRONG : SOME TYPES RISE

The Bank of New Zealand’s produce department has received the following advice from its London office regarding the wool sale which commenced on March 13: —

“The market continues strong. New Zealand Merinos. New Zealand greasy crossbreds, and scoured prices are 5 per cent higher, and slipecl wools par to 5 per cent higher, compared with last week.” The Committee of London Wool Brokers advise that selling was resumed at the third week of the March sales with a strong market. All fleece wools and skirtings were 5 per cent dearer, and lambs unchanged on last week’s rates.