WOOL MARKET

Gisborne Times, Volume LXXX, Issue 12200, 12 March 1934, Page 5

WOOL MARKET

SUMMARY OF WEEK’S SALES

IN SYDNEY

EIGHTY-FOUR per cent, sold

AT AUCTION

PRICES BETTER THAN ANTICIPATED.

(tf.P.A. by Elec. Tel. Copyright)

SYDNEY, March 10

In tiie weekly wool letter, the Sydney Morning Herald says that at tlie closing of fhe sales in Sydney this week, 38,318 bales had been offered, of which 84. per cent, was sold at auction. '

The catalogues averaged only 14.7 d per lb., but owing to the' large quantity of erutcihiugs, lambs, and other oddments offered, the average, should

not be taken as a criterion of fho general level of thel market. ' The almost -consistently good selling markets experienced . throughout the season are indicated by the fact that of 1,000,353 bales offered 92 per cent, lias been sold at auction. The market, indeed, closed under better selling conditions than had been anticipated. The selections have been of a very miscellaneous character, extremely heavy catalogues and star lots and oddments being submitted from July 1 to February 28. Sales of wool on the Sydney market totalled 982,063 bales, which realised £20,290,670. Compared with' a similar period of 1932-33, the quantity shows an increase of 60,457 bales, and the amount realised an increase of £9,909,807.

LONDON SALES

PRICES FULLY STEADY

/U.P.A. by Elec. Tel. Copyright)

LONDON, March 9

At the wool sales, 9122 bales were offered, including 2245 from New Zealand, and about 3870 were sold. Competition continued fairly brisk, and prices were fully steady, especially for all fine growths. New Zealand sales: Greasy crossbred, Hauini, top 144 d ; average 10? d ; scoured halfbred, Daniwai, top 30|d, average 28d. Messrs. Dalgety and Company report as follows: “The wool sales continue fairly animated, but opening rates are not maintained for crossbreds. As compared with the closing rates of last series, fine crossbreds are to lid lower, medium crossbreds lid to lfd lower, and coarse crossbreds Id to lid lower. The sales close on March 16.”