COMMERCIAL

Nelson Evening Mail, Volume LXIII, 13 February 1929, Page 6

COMMERCIAL

DAIRY PRODUCE Dalgely and Company report under date London, I.lth February: Finest New Zealand butter and Australian butter 170 s to 189 s. New Zealand cheese, white 88s to 90s; coloured 91s to 935. SYDNEY WOOL SALES (United Press Association.—By Electric Telegraph.—Copyright.) SYDNEY, 12th February. At the wool sales 10,987 hales were sold. Tliero was strong competition and the market was firm at yesterday's levels. Greasy merino sold to 35/1. BANK RATE (Australian Press Association) LONDON, 12th February. The “Morning Post’s” City editor states that for the time being all suggestions of a further rise in the hank rate should he regarded as irresponsible talk. The next move rests with New York.

CHRISTCHURCH WOOL SALES

(By Teleeraph-—Pro«* A/MooUtioa)

CHRISTCHURCH, This Day,

At the third wool sales, which commenced last night, 8400 bales of a total catalogue of 24,031 were offered. There was a full bench of buyers in attendance.

The sale was not long in progress before it was plainly apparent that there was a pronounced easing on the values prevailing at the last Christchurch sale in January. For better grades of halfbred and Corriedale values ranged fully at lid 1/1 a lb lower; for coarse crossbred and pieces about Id to ltd lower; and for fine crossbred about Id lower.

Merino apparently was not wanted, and clips offered at the January sale showed a drop of over 3d a lb. Alt wools above the 56 count failed to hold Timaru values, hut rates at the latter sale wore maintained in other classes, with competition considerably freer. In making a comparison with the January sale some allowance has to be made for the much heavier condition of to day's catalogue. Heavy rains during the shearing season were responsible for a general lowering of the' standard and the increased quantity, of cotted wool. The top price of the sale was 22d for two dots of Corriedale and one of hallbred'. Tt was only in occasional cases that 21d was exceeded. Compared with the January sale the top prices were as follows: —Merino 202(1 (23/1 in January); Corriedale 22(1 (26d), halfbred 22(1' (24id), three-quar-terbred 18/1 (20/1), crossbred 16/1 (17/1), pieces (22d), crossbred nieces 10/1 (12/1), locks 10/1 (13/1), bellies 14 l-4d (12(1), crutchings 11 l-4d (14d). .