RISING WOOL PRICES.

New Zealand Herald, Volume LXVIII, Issue 20820, 12 March 1931, Page 12

RISING WOOL PRICES.

GOOD LONDON SALE.

ICROSSBREDS UP 20 PER CENT.

VERY KEEN COMPETITION.

AN ALL-ROUND ADVANCE.

I) LONDON. March 10. I. The London wool sales opened to-day tc an all-round advance in prices.

The offerings totalled 11,775 bales, including 3801/ from New Zealand, and about 8310 were sold.

Thero was an excellent representative selection in all classes of fleece, a crowded attendance and very keen competition. Yorkshire buyers predominated but Continental buyers operated strongly in their sorts.

- All prices advanced compared with February closing rates. Greasy Merinos rose 15 per cent, and scoured Merinos 10 t4 15 per cent. Greasy crossbreds were 20 per cent, higher, and scoured crossbreds 15 to 20 per cent. Slipes advanced 15 per 'cent., and all lambs' wool the same.

" New Zealand greasy crossbred clips Bold as follows:—"Tokomaru," top prico B|d, average 7§d j "Te Whanga," 9|d and 83d,

ALL COUNTRIES COMPETE. /

DETAILS' OF THE ADVANCES.

Dalgety and Company, Limited, has r«reived the following cablegram from its London house, dated lOtli instant:—The wool sales have opened. Competition was very animated, the attendance large, and the selection good. Continental and the Home trade / are competing freely. As .compared with the dosing rates of the last series, greasy Merino is l£d to 2d higher; scoured Merino, ljd to higher; greasy half bred, ljd to 2|d higher; greasy crossbred, fine, l|d to , 2Jd higher; greasy crossbred, medium and coarse ?/ lJd to 2d higher; slipe, Id to l£d higher; lambs, greasy, Id to l£d higher. The New Zealand Loan and Mercantile 'Agency Company has received the following cablegram, from its London house:— "Thore was a full attendance at the,opening of the wcol sales, competition by Home buyers being keen, and fairly activo on Continental; account. As compared with the closing rates at the last sales prices are higher l£d to 2d per lb. for crossbred, scoured and greasy Merino; higher Id to per lb. for crossbred slipe and gp isy crossbred. The opening catalogues were representative. ■■■■} The' Bank of New Zealand has received , ihe following advice from its London office:—The wool sales opened with strong and a large attendance of buyers. There was an active demand from all branches of the trade. Compared with the closo of the last series, greasy Merino and fine crossbred are to 2d higher, and medium and coarse crossbreds • -•lid to higher.

ADVANCE MAINTAINED.

SALE At INVERCARGILL. ' " VERY BRISK COMPETITION. [dt telec/rvph.— phess association.] IN7ERCARGILL, Wednesday. The second Invercargill wool sale was held this evening when 16,000 bales were offered to spirited competition from all . eections./ Tlie sale was an exceedingly , "brisk one, and best quality wool showed a rise of threepence a pound compared with the rates at the first sale here at 'the ond of January. Passings were infinitesimal. ' -' Competition was well distributed, but ? it was soon apparent that Japan was exercising the dominating influence, and ■it secured a [air amount of wool suitable - toits requirements. The Continent secured -•a-.fair proportion of fleece wool, but Bradford .ippearecl to be in the market and -bought steadily. Franco competed keenly . ,ior bellies and particularly for pieces. The operations of local buyers were naturally restricted in view of the sudden rise, but a percentage of suitable wools was secured by these interests. The range of prices is:— Halfbred—

Super . .. 0 to 111 .Medium t. 7 to 81 Inferior .. 5} to 61 Pine Crossbred— Super .. . .. 8 to It Medium .. 7 to 81 - Medium Crossbred— Super 7} to 81 Medium 7 to 7! Inferior .. 4| to 61 Coarse Crossbred— " Super .. 71 to 81 ■;>. - Medium .. 6J to 7i s f , Inferior .. 61 to G Hogget— / • Super . >. 8} to 91 \r« Medium .. 7} to 81 ".'y ' Inferior .. . i.. 6 to 71 Pieces— Extra gocd , .. 61 to 61 -.'.Tj Fi r8 t Cronsbred 41 to 61 , " Second Crossbred . ... 8 to 41 Bellies— ■/'' ; First Cronsbred 4 to 53 Second C):ossbred .. 31 to 42 - Crutchings— First Cronsbred ■ t.. 4 to 41 Second Ci:o«sbred » 3 to 31 . 'Kecks— *| First fine ?.. — to 61 Seconds ' .. — to 5 Locks .. 2} to 2 Dead .. 5 to G1