HIGHER WOOL VALUES.

New Zealand Herald, Volume LIX, Issue 18278, 20 December 1922, Page 14

HIGHER WOOL VALUES.

ADVANCE IN ENGLAND. KATES AT SEVENTH SERIES. SOME SENSATIONAL PRICES. [FROM oub, own correspondent.] LONDON, Nov. 2. The seventh series of sales of Colonial wool in London finished last week, every class of raw material being sensibly dearer, compared with the previous auctions. Indeed, somo of the parcels sold created a sensation. Among these was a parcel of New Zealand scoured Merino eppearing in Messrs. Hughes and Williams' catalogue* This brought from 50d to 53d per lb. The total quantity catalogued was 340,000 bales, and ft is estimated that 134.000 bales were sold, of which 76,000 bales were taken bv the Home trade, EO.OOO bales by the Continent, and übout 8000 bales by America. The series was one of the "best since the days of tho great slump, and if the present level of raw material is anything to goby every other section of tho market is in a very strong position. Notwithstanding tho depreciation in all Continental currencies, says the Daily Telegraph, buyig continued active on behr.lf of several foreign countries, and although Germany secured a less quantity than usual, France and Switzerland bought freely. During the last week of tho"series there was a little slackening in the demand, when somo of the extreme advance seen during the second week disappeared, but compared with the close of tho previous scries. Merinos were on an average fullv 10 per cent,, fine crossbreds 15 to 20 per cent., medium rrossbreds often 20 per cent., and coarse crossbreds 10 per cent., dearer. The advance in Merinos is largely duo to limited offcrincs, and as many topntakers and spinners were forced to cover, prices were often lifted to an unwarranted level. Surely ft is high time everyone, interrsted in the wool trade realised that Merinos are h'gb enough. Tn view of a big new clip to 1 ifir- even in Merinos the position requires cool and sound judgment. Tho tabic given below shows the clean scoured cost of good topmaking classes of wool at the recent auctions, a comparison Wine: made with Fho lowest poiit touched in July of last year. It will n i observed how wool values'have advanced :— Julv 23. Oct, 26. 1921. 1922. Quality. d. d. 80's .. 40 61 70's . . 30 57 64's , . 26 53 6fi'< », 22 43 58'« .*.' 33 35 56's r. 16 28 50'-, ..10 18 46*8 .. 9 11 44's s io; 40's 7 10 36' a ~7 10 So far as crossbreds are concerned the dominating influence in London during the sales, and also in Bradford to-day, is the operations on American account). By this means values for fine and medium tops have been lifted to a higher level, these qualities being 3d to 4d per lb. dearer in carded sorts than they were, a month ago. A super 56's top is now worth 3s and 48*s 13d to 18£ d.