LONDON WOOL SALES.

New Zealand Herald, Volume LXVI, Issue 20244, 2 May 1929, Page 11

LONDON WOOL SALES.

MARKET OPENS FIRM.; > MARCH RATES MAINTAINED. Australian and N.Z. Press Association. LONDON, April 30. The London' wool sales opened to-day The market was firm at late rates. A total of 8881 bales sold, of which 2383 were New Zealand, The attendance was large. There was strong Continental competition for medium and lower grade crossbreds at March closing rates. A few of the finer grades were occasionally in buyers' favour. Slipes were firm except fine halfbreds, which were a shade easier. The Merinos were a poor selection. Greasy combings were mostly second-hand lots, for which the reserves asked were above buyers' ideas. The offering of good scoured wools was not sufficient to test the market, but all Merinos were practically on a parity with March raltes.

Crossbred Jambs' wools were strongly competed for at full March rates. New Zealand clips sold as follows:—"Glenore," to 19d; '"Burnthill," to 19d; "Waikohu." 19' d to l&jd; "Whare," 17d to "Beckshaven," 17d to 16d; "Panikum," 16|d to 15id.

REPORTS FROM MERCHANTS. GOOD COMPETITION RULES. Dalgety and Company, Limited, report having received the following cablegram from their Loudon house, dated April 30;— The London wool sales have opened. The attendance is large and 'competition is good. Merino, selection poor, insufficient to quote. The general tendency is rather easier. Crossbred, selection good. As compared with the closing rates of last series;, the rates are as follows: Crossbred, medium and fine, fairly firm, change, if any, is in favour of buyers. Crossbred, coarse, firm at unchanged prices. Continental and Homo trade buyers ana operating freely. The Bank of New Zealand has received the following advice from its London office, dated April 30:—The wool sales have opened with strong competition and a large attendance of buyers. There is a good demand for all wool. Compared with the close of last sales, prices for all grades of crossbreds show no quotable change. Merinos are not represented. The New Zealand Loan and Mercantile Agency, Company, Limited, has received the following cablegram from its London house, dated April 30:—There was a full attendance at the opening of the wool sales, to-day. Competition by Home and French buyers was good. Prices, as compared with . title close of the preceding series ruled in buyers' favour for Merino. Crossbred unchanged. There is a very poor selection of Merino wool.

SERIES IN SYDNEY. Australian and N.Z. Press Association. (Received May 1* 11.5 p.m.) SYDNEY, May 1. At the Sydney wool sales to-day 11,590 bales were sold. All good, well-prepared wools were firm at recent rates, but faultysorts were irregular and difficult to quit. Greasy Merino sold to 25d.