LONDON WOOL SALES.

Manawatu Standard, Volume LVII, Issue 195, 19 July 1937, Page 12

LONDON WOOL SALES.

A SOUND POSITION. PRICE LEVELS SHOULD HOLD. LONDON, July it Messrs 11. Dawson, Sons, and Co., Ltd., commenting on the wool sales, says that tho barometer scorns to be set at fair, and tho pessimistic clouds aro dispersing. A welcome increases in the volume of business in Yorkshire wa3 recorded in tho past week. If tho present rate of consumption is maintained there need bo no serious anxiety in regard to prices. Stocks in consuming centres are low. Meet European countries are hungry for tho raw material, which Franco is enabled to buy freely and advantageously owing to liberations of tho franc.

Some change in fashion appears imminent, and this may favour finer grades, especially worsteds. The Financial News considers that a brisk demand is likely to bo felt in September. Major rises during tho next 12 months, however, cannot be expected, as it is difficult to increase prices for tops yarns to tho same extent as raw material values, but a maintenance of tho existing level should bring in record wool cheques to the principal exporters. Wright, Stephenson and Co., Ltd., and Abraham and Williams, Ltd. —The sales closed beforo an average attendance,, of buyers, among whom competition was good. Continental and Bradford buyers were the chief operators. A total of 71,000 bales were offered, and of these 62,000 were sold. An average selection of wool was offered. Wo quote the following average realisations: Greasy Merino, 60-64’s, yielding 48 per cent., 18id. , Greasy fine halfbred, 56-58's, yielding 62 per cent., 18d. Greasy halfbred, 50-56’s, yielding 68 pet cent.. 17jd. Greasy tbree-qunrlor-brcd, 48-50’s, yielding 74 per cent.. 17d. Greasy lino crossbreds, 46-48’s, yielding 75 per cent., 16id. _ Greasy medium crossbred, 44-46 s, yielding 75 per cent., 16jd. Greasy crossbred, 40-44’s, yielding 76 pet cent., 16id. Greasy coarse crossbred, 36-40's, ’yielding 76 per cent., 16d. Scoured wool and Australian Merinos advanced 5 per cent., while sliped prices were from 2j per cent, to 5 per cent, higher. , , , , Dalgetv and Co., Ltd.—Wool sales closed firm and active. The Home trade were the principal operators, with good support from France. As compared with the closing rates of last sales:—Greasy Merino, par to higher: scoured Merino, unchanged; scoured Merino, short and faulty, lid to 2d lower; greasy and scoured lialfbreds, unchanged ; except short and faulty, lid to 2d lower; fine, medium and coarse greasy' crosbreds, unchanged; scoured crossbred, par to Id lower; slipes, lambs, id to Id lower; slipes, other descriptions Id to lid lower; greasy lambs’, par told lower. Quotations for greasy wools unchanged as compared with closing rates ot last sales. „ . New Zealand Loan and Mercantile Co., J,td—London wool sales closed firmly today. Home buyers principal operators. Competition by French was fairly active. As compared with last sale’s closing rates, prices are par to id per lb higher for super and medium greasy Merino; prices are Id per lb lower for scoured Merino inferior, medium and coarse crossbred slipe; Id to lid per lb lower for fine crossbred slipe, and par to jd per lb lower for greasy Merino inforior. Quotations for good average New Zealand greasy fleece wool:-64’s, 17|d lo J^ d ! ™ 17d to 19d ; 56-58’s, 19d to 20id ; 56 s, IV to 18id; 50's, 16id to i/8-50 s, 16 s d to 17id; 48’s, 16d to l7id; 46-48 s, 16d to 17id; 46's 16d to 17d: 44-46’s, 16d iol7d; 40-44’s, 16d to 17d; 40’s, l6d to 17d. BROKERS’ RETORTS. Tho following cabled reports were received on Saturday by Wellington houses:— Bank of New South Wales— London wool sales closed to-day at best point ot series with lloiiiq and Continental bu\crs in spirited competition. Prices for both greasy Merinos and crossbreds now about id per lb above opening rates. Avorago or estimated prices of Now Zealand greasy fleece ordinary topmaking wools:—Merino, 60-64’s, Is 6jd; fine halfbred, 56-58’s, Is 6d; Half bred, 50-56’s, Is sid; three-quart erbrod, 48-50's, Is sd; fine crossbred; _ 46-48’s, Is 4jd; medium crossbred, 44-46’s, Is 4id; crossbred, 40-44’s, Is 4id. Bank of New Zealand (produce department).—The sales have closed firm for all descriptions of wool, and with values at the highest point. Quotations for wool of average conditions:—

Levin and Company, Ltd.—The auctions closed at their host point, buyers generally operating freely. Total quantity offered, 71,042 bales; sold, 62,000 bales. Carried forward, 22,000 bales, including 16,000 bales from Now Zealand. Compared with the opening rales, wo quote:—Greasy Merino, best and average, per lb higher; fine halfbreds, 50-56’s, unchanged; extia fine crossbreds, 48-50’s, fine crossbreds, 46-48’s, medium crossbreds, 44-46’s, eoarso crossbreds, 40-44’Sj low crossbreds, 46-40’s, all id per lb higher; slipc wools, generally id per lb higher.

ADVANCE IN BUTTER. LONDON, July 17. The strong advance in butter was quite unexpected, and speculation was largely responsible for it. Tooley Street merchants expect fairly high level values to rule in the near future. There have been small arrivals of Siborian.

Merinos — Super, 60-64’s ... d d 21 t-o.214 Ordinary 60,-64’s ... 174 to 184 Inferior, 60-64’s ... 14 to 15 Halfbreds— 56-58’s 184 to 19 4 56’3 18 to 184 50,-56’s . ... 174 to 18 Crossbreds — 50’s 174 to 18 48-50’s 17 to 174 , 44-46’s . ... 164 to 174 40-44’s 161 to 17 36-40’s 164 to 17