LONDON WOOL SALES.

New Zealand Herald, Volume LXVII, Issue 20518, 20 March 1930, Page 7

LONDON WOOL SALES.

OPENING DAY'S PRICES.

CROSSBREDS 10 PER CENT. DOWN

BRISK, HEALTHY MARKET. LONDON, March 18. At the opening of th& London wool sales to-day prices were 5 to 10 per cent, down.

The offerings totalled 9456 bales, including 2614 from 'New Zealand. About 5730 bales were sold. It was an inferior and unattractive selection, including many second-hand lots, but there was a healthy, brisk market, a more confident tone and wider competition. Owners aro meeting the market and consequently there were few withdrawals.

There was a large attendance of buyers from all the European centres. Fine Merinos suitable for the Continent were in good demand at about the closing rates of February. Yorkshire sorts were 5 per cent, easier and all crossbreds were 10 per cent, lower. The following New Zealand greasy crossbreds sold at the prices named: —• "Titico," top prico lid, average 9gd; "15ackshaven," and 9£d.

THE TOTAL CATALOGUE. 164,200 BALES AVAILABLE. (Received March 19, 7.5 p.m.) Times Cable. LONDON, Mar. 19. For the second series of wool sales, which was opened to-day, 164,200 bales will be available for 18 selling days. New Zealand greasy crossbred ranged from BAd to lid. The clip CMC/Eclipse," nalfbred slipe lambs, brought 12£ d.

ADVICES FROM MERCHANTS.

GOOD COMPETITION REPORTED. - Dalgety and Company, Limited, report having received the following cablegram from their London house, dated March 18:—The wool fcales have opened with good competition and a large attendance. There is a poor selection of , Merinos and an average selection of crossbreds. As compared with the closing rates 'of last series, Merino is 5 to 7 per cent, lower, nominally; greasy crossbred, fine, £d to l|d lower; greasy crossbred, medium and coarse, >}d to Id lower; scoured crossbred, change, if any, is in -favour of buyers, slipe, I'd to l£d lower. "The Bank of New Zealand has received the following advice from its London office, dated March 18:—The wool sales have opened with moderate competition and a large attendance of buyers. As , compared with the close of tho last series, prices are jjd to Id lower for medium and coarse crossbreds. The New Zealand Loan and Mercantile Agency Company, Limited, has received the following cablegram from its London house, dated March 18:—There was a full attendance at the opening of the wool sales to-day. Competition by Home and Continental buyers was active. Prices as compared with the close of the preceding series ruled about 5 per cent, lower for Merino wool, 10 per cent, lower for crossbred and 10 per cent, to 15 per cent, lower for crossbred slipe. America . was operating. The opening catalogues were fairly representative.

WAIKATO STOCK MARKET.

CONDITIONS REVIEWED.

FEWER CLEARING SALES.

The weakening of the cattle market which was evidenced a week ago still continues. There is generally a period of dullness at, this season, and there is no reason this year to expect any deviation from the rule. Although the majority of farmers prefer to see the- market buoyant no alarm will be occasioned by its fall. Feed is in abundance everywhere. Turnip crops, although, not so healthy an a month ago, promise fair, while hay and ensilage stacks are numeroua enough to make the possibility pf exhaustion seem very remote. It is unlikely, therefore, that holders of stock will be disposed to make any sacrifices; rather they may bis expected to carry through until the market swings again to their advantage. While it is early to speak with any degree of assurance, there is likely to be » decrease in th«i number of clearing sales this Beason, It has been the custom to arrange dates for these fixtures early in tha year, but .ao far tho bodkings are light. Just what the decline indicates is difficult to determine, though it must be presumed that less land is changing ownership. The sheep market, insofar as the store section is concerned, seems to have reached its peak, and a general weakening looks probable. Replenishment of the ewe flocks appears to be completed and fortunately so, for very few sheep of qu&lity are at present available for purchase. Conditions asi they affect the individual sections are as follows: — BEEF. Beef has dropped rather sharply, even ox beef, which up to a week ago held firmly, joining in the decline. A fall of about 23 per 1001b. wan registered at the central market this week, lowering values to about 36s for prime Quality. Cow beef, which is becoming more plentiful; draws very halfhearted competition. Best heavy-weight cows and heifeis sell at £9 to £10; mediumweights, £7 15s to £8 10s; light-weights, £6 10s to £7 10s. MUTTON*. Wethers are firm and inclined to harden, but ewes, except for prime young sheep, are not holding their ground. Best wethers are worth 2Ss to 30s : lighter sheep, 2(8 to 2Ss; ewes, lGs to 17s Cd. STORE CATTLE.

There is anything but a strong inquiry for store cattle, although a" line of grown cattle at the central yards this week with a better reception than was anticipated. Young cattle are not popular, although heifer calves, up to a are saleable. Three and a-half-years, steers axe selling up to £ll. for forward sorts; storsa, £9 to £10; 21-years steers, £7 to £8 10s; IS-months, £5 to £6; forward cows, £5 to £6; store cow 3, £3 10s to £4 15s; steer calves, good quality, £3 to £3 10s; Jersey heifer calves, up to £4 10s, for : best~; second quality, £2 lcis to £3 ss. STORE SHEEP. Lambs are the principal attraction in tlais section at pres,ent, and although large numbers come forward each week, their popularity does not appear to lessen. Breeding ewes are IeBS in demand and consequently values have eased. Storo wethers do not seem plentiful, nor is there a very strong inquiry. Ewes are selling at 22s 6d for suitable linen of five-years-old; soundmouthed ewes,. 16s to 18s : aged, from 10s to 14s; best ewe lambs, to 19s; best wethers, to 16s 6d; medium lambs, to 19s; best wether lambs, to 16fi 6d; medium lambs, 13s to 14s 6d; small, 10s to 12s; two-tooth 20s to 225. DAIRY HEIFERS. No greater enthusiasm is being shown in dairy heifers, although good lines are here and there being disposed of. Buyers aro this season exhibiting great shyness. PIGS. A large volume o£ business is still being done in pigs, and values remain fairly steady. A slight inclination to waver has lately been observed, /_ but not enough to alter existing quotations. Best baconers are worth £1 5s to £4 12s Gd; light-weights, £3 10a to £3 17s 6d; best porkers. £2 15s to £3 ss; light-weights. £2 5s to ±2 12s 6d. COLOMBO TEA SALES. (Received March 19. 8.55 p.m.) COLOMBO, March 18. At this week's tea auction in Colombo 2,500,0001b. were catalogued. The quality was the same as last week s offerings. Common teas advanced three to five cents. Others were irregular. , • The total to be oftered next week is 2,600,0001b. CHICAGO WHEAT MARKET., CHICAGO. March'lß.. Wheat. —March, 1 dollar 4 oents per bushel; May, 1 dollar 7J cents; July, 1 dollar 5g cents; September, 1 dollar 7f . cents. : ■ -