GRADES OF WOOL

Hawke's Bay Tribune, Volume XXII, Issue 36, 26 January 1932, Page 7

GRADES OF WOOL

In New Zealand the term “crossbred'’ is applied to the qualities running from 36’s to 48’s —the London, the Leicester, and Romney types. Fine wools, 48’s up to 60’s, are classed as halfbreds, and over 60’s are Merilios. In London every grade under Merino is called crossbred. At the present time the demand, whether in New Zealand or in London, is strongest for halfbreds, that is, 48’s up to 60’s. Some of the quotations cabled from London in respect to the last sale, 8d and over for crossbreds, were actually for half bred wool, and should not be confused with the quotations for crossbred wool, which are actually ranging from 5d to 6Jd, according to the cabled reports. Crossbreds are admittedly selling at low figures in all selling centres. This, it is said, is due to fashion running to the finer wools. Another factor, and an important one, is the large supply of crossbreds available from South America, where the clip is larger than the Dominion output by about 50 per cent. Furthermore, the advantage to the South American grower from the exchange—South America on London —is 34 per cent. In the Dominion it is only 9 5-8 per cent. Therefore, the grower in South America is receiving approximately 7Jd for wool for which the New Zealand grower receives 6}d. When growers complain that prices are low in New Zealand, they have only to look at the prices quoted from London and to realise that South America is in a better position to sell its large output owing to the favourable exchange. They must also realise that buyers are paying in the Dominion full world’s parity for crossbreds. There is. anti can he, nothing in the suggestion that prices are down here because of atty local condition.— Christchurch “Sun.’’ SYDNEY WOOL SALES. Sydney, January 26. At the wool sales the offerings were 10.637 bales, sold 10.191, also 331 privately. The chief support came from Japan and the Continent. There was an excellent demand for skiitings. The market remains firm. Greasy Merino brought to 16d. The average price of wool last week was £ll 9s fid per btile, or 8.96<1 per pound.