LONDON WOOL SALES.

New Zealand Herald, Volume LXIII, Issue 19235, 26 January 1926, Page 7

LONDON WOOL SALES.

REVIEW OF THE SIXTH SERIES EARLY PRICES NOT MAINTAINED. [FROM OUR OWN correspondent.] LONDON, Dec. 18. During the sixth - series of London wool sales of the current year, which opened- on November 24, and closed yesterday, 163.811 bales were catalogued, including 61,901 kales from New Zealand. The quantity sold 'amounts to about 138,000 bales, of which some 78,000 bales have been taken for export, including 5000 bales purchased for shipment to America. The close of the fifth series had been followed by a burst of activity in the homo manufacturing districts, which caused a substantial rise -in the values of most descriptions of wool. The movement, however, soon spent its force, and with the demand from France showing signs of slackening, the tone of the market had become much quieter by the middle of November. In these circumstances, the opening of the sixth series was most satisfactory, prices for Merinos being rather higher and for crossbreds well above October parity. There was good competition from the Continental as well as the home trades, and American buyers were operating to a limited extent.

Jawing to fogs, the first two weeks were restricted to seven selling days, and during that time the demand continued good, but a remarkable change came over the market in the second half of the series; competition became less keen from all sections of the trade and prices fell from 10 to 15 per cent, below opening rate 1 ?. During the last few days, however, more buyers came in at this level, and the sales closed with a firm tone, with values for both Merinos and crossbreds above the lowest point. In the earlier part of the series superior greasy Merinos were 5 per cent, dearer and other sorts unchanged, but at the close the former were from par to 5 per cent., and the latter from 5 to 10 per cent, below last week's parity, the decline being most pronounced on Continental top-making wools. Scoured wools also sold well at first, showing advances of 10 per cent, on good and 5 per cent, on inferior descriptions, final quotations, however, being from 5 to 10 per cent, below October closing rates in the case of average to good lots, while short ' and faulty parcels were difficult to sell at from 10 to 15 per cent, decline. I 1 ine greasy crossbreds sold somewhat irregularly, but prices for them, in average, showed little change as compared with the close of the previous auctions. Medium and coarse qualities in the early part of the series were from 7-i,- to 10 per cent, dearer, but by the end had fallen to from 5 to 7| per cent, below October parity. Scoured crossbreds also were at one time about 10 per cent, higher, but although they were in good demand throughout the series, all qualities at the close were selling at about last sales' final rates. Prices for halfbred slipes did not at any time show much improvement and must be now quoted from par to 5 per cent, lower; medium and coarse grades opened well and were frequently 10 per cent, dearer, but during the latter half of the series they lost ground and at the close were selling at about the October level. As compared with last series' closing rates, Messrs. Charles Balrne quote as follows for New Zealand descriptions:—

Closing Prices. per lb. Merino, greasyd. d. Superior . . .. 33 Average to good . . 19 241 Poor condition . . 1ft 181 Inferior pieces and locks . . 8 141 Merino, scoured— Superior .. 42 52 Average to good . . . 33 41 Inferior . . 21 32 Faulty! pieces and locks .. 15 20 Crossbred, greasy— Fine, superior Fine, ordinary .. IS 231 .. 15 181 Medium, superior .. 15 J 18 Medium, ordinary 13 IS Coarse, superior .. .. 14 15 Coarse, ordinary . , .. 12 131 Crossbred, scoured— Fine, superior . . 33 43 Fine, ordinary Medium, superior ■ 22 32 . . 22 29 Medium, ordinary . . lfi 211 Coarse, superior .. 18 22 Coarse, ordinary . . .. 14 17 Crossbred, sliped— Fine, superior ;. 22 261 Fine, inferior I! 171 2.11 Medium, superior . . 18 211 Medium, inferior . .. 15 171 Coarse, superior . .. lfi 181 Coarse, inferior .. 13 151