Greasy Crossbred Brings 100d

Gisborne Herald, Volume LXXVII, Issue 23365, 22 September 1950, Page 5

Greasy Crossbred Brings 100 d

Values for New Zealand greasy crossbred wool reached a new high at the opening of the London sales on Monday. From 48-50 down to 40-44 count, there was practically nothing sold at less than IOOd per lb. Compared with the close of the July sale, greasy medium crossbred wool showed an advance of from 90 to 95 per cent., whereas Merino wool advanced only about 50 per cent.

The produce department of the Bank of New Zealand has received the following advice from its London office regarding the opening of the auctions there:—

“The sales opened with strong competition from the Home trade, the Continent, and the United States of America. Compared with the July sales’ closing, greasy Merino wool is 45 to 50 per cent up, scoured Merino 50 per cent up, greasy medium crossbred 90 to 95 per cent up, scoured crossbred about 70 per cent, and sliped crossbred 70 to 90 per cent up. Current quotations for wools of average condition, in sterling without deductions of any sort, are:— “Merino.—Ordinary, 120 dto 130 d per lb. (nominal). “Halfbred.—s6-58s, 120 d per lb.; 50-565, lOd to 105 d. “Crossbred. —48-50 s. IOOd to 107 d: 46-48 s, IOOd to 107 d; 44-465, 100 c! to 107 d; 40-445, 98d to 103 d.” Bank of N.S.W. Report

“At the wool sale today only a moderate selection was offered apart from slipes,” states cabled advice received in Gisborne from the London office of the Bank of New South Wales in a message sent yesterday. “Prices generally were 50 to 60 per cent above the close on July 21. The Home trade were the chief buyers, with good American support on Merinos and slipes. The general tone is excited and wools for_ immediate delivery are badly needed." Average or estimated price of New Zealand greasy fleece ordinary topmaking wools: —Merinos. 60-645, 110 d to 120 d; fine halfbreds, SG-58s, 104 d to llOd; halfbred, 50-5 Gs, 90d to lOOd; three-quarterbred, 48-50 s, 89d to 93d; fine crossbred. 46-48 s. 89d to 93d; medium crossbred, 44-465, 89d to 93d; crossbred, 40-44, 85d to 90d.

Union Bank of Australia Report

The Union Bank of Australia has received the following cabled report from London: — “The London wool sales opened today with a very crowded attendance and good general competition, with both the Home trade and the Continent operating and the United States buying the better Merinos and slipes Crossbreds showed a bigger advance than Merinos. Compared with the close of the July sales, Merinos were 50 per cent dearer, all greasy crossbreds 90 per cent dearer, scoured crossoreds 70 per cent dearer, and slipes 70 to 80 per cent dearer. Quotations for New Zealand wool of average condition were: “Merino, 60-64 count, 120 d to 130 d per lb. Fine halfbred 56-58 s, llOd to 120 d; halfbred, 50-56, 103 d to llOd; threequarterbred, 48-50 s, 103 d to llOd. “Fine Crossbred, 4G-48s, 103 d to llOd; medium crossbred, 44-465, IOOd to 105 d; crossbred, 40-445, lOOd.”