WOOL POSITION

Nelson Evening Mail, Volume LXXI, 29 April 1937, Page 7

WOOL POSITION

STRONG GENERAL DEMAND REAL TEST TO COME SYDNEY AND BRISBANE SALES [United Press Association—By Electric Telegraph—Copyright] SYDNEY, 28th April. The firm of Joseph Dawson, the Bradford textile manufacturers commenting on the wool sales says the high prices attained are almost fearsome and wil make folks nervous, but all old crossbred stocks are completely cleared and the position appears impregnable. Merinos advanced less than other trades, but with limited supplies and a strong general demand prices may still be buoyant. The real test must be shortly faced at Sydney and Brisbane, when supplies wjll be more plentiful. Meanwhile consumption of all grades developed at an unexpected rate. Most European mills are at a low level. The outstanding feature of the season has been resumption of Russian operations. Unexpected strong support from America also helped the market. The home trade finds it difficult in making ends meet, whether seling or- buying, being dragged at the heels of a strong world demand. LONDON SALES ACTIVE COMPETITION (Received 29th April, 11.25 a.m.) LONDON, 28th April. At the wool sales 9313 bales' Were offered, including 2994 New Zealand, and 6895 were sold. There was active competition for a good selection, consisting chiefly of Australian merinos of which the best lots sold well at full current rates, chiefly to the home trade. New Zealand greasy halfbred “Boscobel,” top price 21Jd; average 20Jd.

Messrs Buxtons Limited advise having received the following cablegram from their London agents, Messrs Sanderson, Murray and Elder Ltd., dated 27th April, 1937:—“Sales have opened with a good tone, competition keen, poor selection offered. All sections operating. Compared with last London sales’ closing rates—Merino, par to 5 per cent, advance; crossbred greasy fine advanced 5 per cent.; crossbred greasy medium and coarse advanced 5 to 10 per cent; crossbred scoured and slipe crossbred advanced 5 per cent.”

Messrs Levin and Co. Ltd., have received the following cable from their London agents, dated 27th April, 1937. The auctions opened here to-day with a large attendance of home and continental buyers. There was good general competition. As at present arranged, the sales will close on 6ih May. Compared with the closing rates of last sale, we quote;—Greasy merino, best id to Id per lb higher; average, |d to Id per lb higher. Fine halfbreds, 50/565, id to 2d per lb higher. Extra fine crossbreds, 48/50s, id to ljd per lb higher. Fine crossbreds, 46/48s, Id to lid per lb higher. Medium crossbreds, 44/465, Id to lid per lb higher. Coarse crossbreds, 40/445, Id to lid per lb higher. Low Crossbreds, 36/40s, Id to l|d per lb higher. Slipe halfbred lambs, Id to iid per lb. higher. Slipes, medium and coarse, id to Id per lb higher.