SYDNEY WOOL SALES.

New Zealand Herald, Volume LVIII, Issue 17780, 13 May 1921, Page 5

SYDNEY WOOL SALES.

— «t> BRISK TONE OF MARKET. LATE RATES EXCEEDED. Australian and N.Z. Cable Association. (Reed. 12.45 a.m.) SYDNEY, May 12. Much interest was taken in to-day's wool sales, held under the Bawra reserve conditions. The sales started in the morning instead of the afternoon as formerly, as three days' offerings were crowded into one. Over 12,000 bales; mostly Merino, were offered. The clearances surpassed expectations, very, little being passed. The attendance was large and the competition strong. Japanese buyers were specially active, buying largely of the best classes, French and Yorkshire buyers and local top-makers operated freely. Good to super Merinos sold from par to 5 per cent, above the last sales, mediums and skirtings 5 to 7£ per cent- higher. Crossbreds were also in better demand. The prices for greasy Merino touched 28£ d.

GOOD LONDON CLEARANCE.

COMPETITION STILL STRONG. A. aad N.Z. LONDON. May 11. At the free wool sa-le a good selection of Queensland and West Australian Merinos were offered. Both greasy and scoured were keenly competed for by Continental and Home buyers at full late rates.

A small selection of crossbreds was mostly taken for the Continent at full rates.

Reports of the Melbourne sales have given general satisfaction in wool circles, and are regarded as an indication of a revival of confidence, falsifying pessimistic prophesies recently rife in Australia. The Colonial Wool Merchants' Association has fixed the quantities for the June sales- at 110,000 bales, comprising 60,000 bales of Bawra wool and all free arrivals to April 9.