LONDON WOOL SALES.

New Zealand Herald, Volume LXVI, Issue 20307, 15 July 1929, Page 7

LONDON WOOL SALES.

COMPETITION FOR SLIPES.

PRICES FOR CROSSBREDS. Australian and N.Z. Press Association. LONDON. July 12. At tho wool sales 6625 bales wero offered, of which 4856 wero New Zealand. Thcro was a small offering of greasy Merinos and crossbreds, and many slipes, for which tliero was brisk home competition at lato rates. The following New Zealand clips realised the prices stated:—NV.F.M./T.8.5., super halfbred, 22d; super, three-quarter-bred, 2ld; Feilding, super half-bred, 22d; three-quarter-bred, 19£ d; "Canterbury, super half-bred, 21d; three-quarter-bird, 19d. Commenting on the wool sales, the Economist's correspondent writes:— "Prices declined a little more than was anticipated, but in view of tho adverse conditions reported front Franco and Germany no one need be surprised at what has happened. All alike are seeking seriously after a new buying basis, and until the trade feels that bottom has been touched there can be no improvement. "The decline of 5 to per cent, has to a laige extent been discounted in consuming centres like Bradford and Rouhaix. Wool is still selling at values slightly above what can be made for tops to-day. Whether tho holders of second-hand parcels will decide to sell and accept current values remains to be seen. But there seems little hope of higher prices, even if the wool wero held until September. Crossbreds have declined fully as much as was anticipated, and the fall should bring about free buying."