BETTER WOOL VALUES.

New Zealand Herald, Volume LXVII, Issue 20537, 11 April 1930, Page 13

BETTER WOOL VALUES.

LONDON SALES CLOSED,

HIGHEST RATES OF' SERIES.

MUCH IMPROVED DEMAND.

LONDON, April 9. At the London wool sales to-day 7459 hales were offered, including 1075 from New Zealand and 605 reconditioned New Zealand. Approximately 2T370 hales were sold.

New Zealand sales were: Greasy crossbred. "Titi," highest lid, average 10id; "Burnt Hil," highest IOJd, average lQjd. The sales closed strongly at the highest prices of the series. Merinos were increasingly competed for as :he series proceeded. Continental and all-finer sorts of combings were fully 5 pe..*' cent, above the opening rates. Shabby, inferior carbonising softs were in strong request, at sto 10 per cent, higher. Scoured wools met with a strong market and closed Id to 2d above February closing rates; Crossbreds, both greasy and scoured, fully recovered the opening decline and closed equal to the best February rates. Slipes also recovered, but not quite to the s.<me extent. Merino Jambs wera about 5 per cent, and crosryned lambs about, 10 per cent. aboycCthe opening rates.

The totals sold were: Home trade, 58,000 bales; Continent, £3,000; United States. 5000; held over, 61.300. The estimated total of Australian wool sold was 56,000 bales, and New Zeal&tid, 38,000. Messrs. Dawson and Sons, commenting on the outlook, say the outstanding feature of the series was the all-round indication of improving demand. Merino wools from Australia and South Africa were rapidly absorbed. The position of supplies of fine wools is assuming a new. perspective, and the much-feared bogey, of excessive stocks is not likely to causa any severe fright.

"It is now evident that the Australian market will he cleared before the new clip can be available. This fact alona has done something to restore confidence. Altogether there is a much-improved demand, and a good latter half of the year for fine sorts generally is expected. Unfortunately the improvement in tha market is overshadowed temporarily by the threatened stoppage in Yorkshire."

REPORTS FROM MERCHANTS.

FIRM TONE .AT THE CLOSE. Dalgety and Company, Limited, has received the following cablegram from its London house, dated April 9:'—Wool sales. —Tiif sale? closed very firm. Competition was general and active, and the market closed at the highest point. As compared with the closing rates of the last scries greasy Merino were ?d to Jd lower; scoured Merino, jd to Id; greasy halfbred, Ad to Id; greasy crossbred fine, £d to Id; greasy crossbred medium, ; greasy crossbred coarse, jd; scoured crossbred, jd to Id; slipe halfbred, Id to ]J,d; other sorts, sli.pe, jd to Id; greasy, crossbred .'ambs, par to jd. The total offered was 141,595 bales. Tho Continent has bought 63,000 bales, tha home trade 59,000 bales, America 2000 bales, carried forward 61,000 bales, of which 53,000 bales were not offered. The total sold was 124,000 bales. Quotations: Merino, good to super, 12d to I3jd; low to medium, 9jd to lljd; halfbred (56's58's), good to super, 12d to 15d: low to medium, 9|d to llid; halfbred (50's-56's). good to super, lid to 12jd; low to medium, 9d to 10jd: fine crossbred (48's-50's), good to super, lOjd! to ll|d; low to medium, 83d to 10jd; fine crossbred (46's48's), good to super, 10jd to lljd; low to medium, Bid to lOd; crossbred (44's-465), good to super, lOd to lid: low to medium, Bjd to 93d; crossbred (40's-44's), good to super, 9|d to lOjd; low to medium, SJd to 9jd; coarse crossbred (36's-40's), good to super, 9jd to ].od: medium to good, Bid to 9id. The Bank of New Zealand has received the following advice from its London office dated April 9:—The wool sales have closed firm for all kinds of wool. There has been an active demand in all branches of the trade Compared with the opening of the sales, medium and coarse crossbreds ! are jd higher. Quotations are.—Merino | super, 12d to 13jd; ordinary, lo*d to j lljd; inferior, 9d to lOd: halfbred. 12d to 13d; crossbred fine, lOjd to lljd: medium. S*|d to lOjd; coarse, 9jd to lOd. The New Zealand Loan and Mercantile Agency Company, Limited, has received the following cable from its London office, dated April 9The wool sales closed firmly. As compared with the closing rate 'at the last sales, prices ire lower, about par to 5 per cent. ■ for Merino medium and inferior, scoured crossbred and lambs; lower about 5 per cent, to fj j per cent, for medium greasy crossbred, coarse crossbred s.lipe and fine greasy , crossbred: lower about 7i per cent, to 10 j per cent, for medium crossbred slipe and ; fine crossbred slipe; lower about 5 per ! cent, for coarse greasy crossbred and superfine Merino. The market is strong. Th« prices realised for average to super grades of descriptions are as follows: — Merino, super, 12 jd to 15d; Merino, average, 9-Id to lid: crossbred (s&!s-58's|, 11' dto 14d; 50's-56's, lid 13d; 48'"s-50's. lOd to Hid: 46's-48's, 9|d to 10Jd; 44's-46's, 9id to lOd: 40's-44's, 9jd to'lOd; 36's-40's,*9d to 9'd.