MARKED ADVANCES

Manawatu Standard, Volume LIII, Issue 251, 20 September 1933, Page 7

MARKED ADVANCES

LONDON WOOL SALES. MERINO AND CROSSBRED RISE. NEW ZEALAND REALISATIONS. (United Press Association—By Electric Telegraph.—Copyright.) Received September 20, 9.15 a.m. LONDON, Sept. 19. For the wool sales opening 11,101 bales were offered, including 6341 from New Zealand, and 10,154* were sold. There was a full attendance with keen general competition after the opening. Advances on the earlier offerings were 7$ to 10 per cent. As compared with the last sales closing rates both Merinos and crossbreds reached an advance of 10 to 15 per cent. Some fine New Zealand crossbreds were occasionally 20 per cent. up. New Zealand sales were: R. Company T, top price averaged 25fd; halfbred slipe, branded “Cfm Belfast,” top price 18d, average 17£d. MELBOURNE SALES. KEEN COMPETITION. Received September 20, 10.35 a.m. MELBOURNE. Sept. 20. At the wool sales 8000 bales were offered and elicited keen competition. Yorkshire was very active. Twenty-one pence was paid for comeback wool, 203 d for Merino fleece, 18fd for Merino skirtings, 19d for necks and 12}d for pieces. POLICY REAVARDED. THE PRICE RECOVERY. LONDON, Sept. 19. The Financial News describes the rise in wool as one of the most spectacular and quite the most important of the price recoveries. Growers are realising the reward of their policy of steadily and philosophically _ meeting the market last year, when prices were low. and resisting the temptation to withhold supplies as a result of the record clip. Meanwhile the cheapness of raw wool lias resulted in the discovery of new uses for wool, of which woollen bathing suits are among the most obvious, and have opened an almost new market.