RISE IN WOOL

King Country Chronicle, Volume XXXIII, Issue 4810, 14 July 1939, Page 5

RISE IN WOOL

THE LONDON SALES. ADVANCE OF 20 PER CENT. MILITARY REQUIREMENTS. Prices for crossbreds rose by up to 20 per cent, at the opening of the fourth series of London wool sales on Tuesday. Although the advance was not unexpected in view of the heavy demand for coarser wool for military uniforms, the extent of the rise will be gratifying to New Zealand growers, as over half the offering is comprised of Dominion wool. A Press Association message sent from London on Tuesday states that, compared with the close of the last series in May, scoured Merinos were at par; greasy Merinos were 5 per cent, dearer; scoured and greasy fine crossbreds 5 to 10 per cent, dearer; medium and coarse, 15 to 20 per cent, dearer; slipes, 7% per cent, dearer.

Military Requirements.

A total of 7672 bales was offered, including 4029 from New Zealand, and 6560 bales were sold. There was a good selection, with a large supply of New Zealand crossbreds. The offering met with animated competition, the demand being due to military requirements.

Too Early to Forecast.

The series will continue until July 26. The offering of 101,600 bales consists of New Zealand, 55,800; Queensland, 19,850; Victorian, 7200; New South Wales, 6850; Western Australian, 2100; South Australian, 1500; Tasmanian, 250; South American, 5100; South African, 500; sundries, 2450.

While the rise in crossbreds will be welcomed in New Zealand, it is too early to forecast prospects for the new season, which will open in November. Two more series will be held in London before then, and the Australian sales open on August 28.