DROP IN WOOL PRICES.
■ LONDON SALES SURPRISE, 5 TO 20 PER CENT, DECLINE. HALF OFFERINGS WITHDRAWN. By Telegraph—Press Association Copyright (Received 8.30 p.m.) A. and N.Z. ' LONDON, May 31 The London wool sales opened verj ■weak. Prices showed a decline of 5 to 2( per cent, compared with the closing rates at the last London* sales. Half th< offerings were withdrawn. Following recent declines at tho Lon don provincial and Antwerp wool sale: the trade generally expected that tin current sales would open at lower rates but the extent of the dcclino exceedec all anticipations. The number of balei offered was 11.620, of which 2707 wert from New Zealand. The selection was fairly representative, and there wis < large attendance, bat biddings were verj slack. Yorkshiremen would not buj Merinos, and Continental buyers operatec sparingly in them at an all-round declin< of 15 to 20 pef cent. Fine crossbreds met with slow biddings at a 10 to 15 per cenl dociino. Medium and lower grades founc better support at about a 5 per cent do clind. New Zealand Struan clip realised 41d Llangollen 66Ad, and Hawthorne lambs 55d.
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New Zealand Herald, Volume LVII, Issue 17486, 2 June 1920, Page 7
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187DROP IN WOOL PRICES. New Zealand Herald, Volume LVII, Issue 17486, 2 June 1920, Page 7
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