LONDON WOOL SALES

New Zealand Herald, Volume LXIX, Issue 21349, 25 November 1932, Page 7

LONDON WOOL SALES

OPENING RATES HOLDING

YORKSHIRE MORE ACTIVE

CROSSBRED OUTLOOK HOPEFUL

LONDON, Nov. 23

At. tho London wool sales to-day 0978 bales were offerer!, including 3310 from New Zealand, and about 8480 were sold. There was pood general competition, Yorkshire being more active, at full opening rates. Slipes were slightly in sellers' favour.

Now Zealand clips sold as follows: Slipe halfbred Jambs' "Kaiapoi," top price, 13d, average, lOJd; scoured combings, "JBraemar," 19d and 17id. Messrs. Dawson and Sons say the sales have opened under the most healthy conditions of the year. The quantities available are moderate. Most of the old fine grades are cleared. There is a. hopeful outlook for crossbreds owing to the demand for knitted goods. Consumption is still at the highest level for a decade and the combing mills in evefy centre are running day and night, while most of the spinning mills are working full hours.

A private cablegram concerning the second day's operations at the London wool sales received in Auckland yesterday stated: —"A good sale, 94 per cent being sold. The competition was wider, llalfbreds at a premium."

' HELD-OVER WOOL

EFFECTS OF STORAGE

BROKERS' ASSOCIATION VIEW

An official statement on the question of hpld-over wool, which was commented upon in the Herald on Wednesday, was made yesterday by Mr. E. M. Edgar, secretary of the Auckland Woolbrokers' Association.

The statement that stored wool became discoloured and deteriorated rapidly was not borne out by the facts, Mr. Edgar stated. It was possible that in certain cases, more particularly if the wool was shorn damp, that discolouration took place, but, speaking generally, held-over wools were as marketable as the new season's clip. In that connection it was interesting, he said, to recall the opinion expressed by the president of the New Zealand Woolbrokers' Association, Mr. H. E. Mabin, in January of this year in reply to an inquiry on the subject from the New Zealand Farmers' Union. Mr. Mabin said that in his opinion wool shorn dry and in good condition did not deteriorate. Healthy wool containing excessive yolk was apt to look yellow and discoloured, tut the volk was a natural preservative and the fibre was not injured by age. On the other hand, Mr. Mabin stated, wool showing any sign of dampness when shorn became discoloured, more particularly if there was any seed present, and it, was questionable if it would scour white. As to the alleged discrimination on the part of buyers, that was largely_ a question of supply and demand. For instance, the demand was running now on fine wools of over 43's counts. These wools throughout the current season had sold well and freely and without discrimination tvhether old or new. The secretary of the Auckland Association also pointed out that frequent instances had occurred of old wood coming into store for the current sales and opening up in a condition equal to that of the new season's clip.

FIRM SYDNEY MARKET

FREE COMPETITION

(Received November 21, 9.35 p.m.)

SYDNEY. Nov. 24

At the closing Sydney wool sales to-day 12,761 hales were offered and 11,549 were sold. Also 558 bales were disposed of privately. All sections competed freely and the market remained firm with values unchanged for all descriptions. GreasyMerino sold to 233 d.

DOMINION SEASON

FIRST SALE NEXT WEEK

OFFERING AT AUCKLAND

The catalogue of wool to be offered at the first sale of the New Zealand selling season at Auckland on December 2 will close to-day. The New Zealand Wool Committee has fixed a limit of 25,000 bales for this sale and it is expected that the quantity forthcoming will be more than the limit. Last year there was an offering of 22,730 bales. A limit of 20.000 bales was at first granted by the Wool Committee, but later it was extended to 24.000 bales.

Following the Auckland sale there will be auctions at Napier on December 6 and at Wellington on December 10. The gross value of wool sold in New Zealand in 1931-32 was £3,571,776 and the value per lb. 5 26d, as against £3.558,587 and 5.67 d per lb. in 1930-31.

GOLD AND SILVER

QUOTATIONS TN LONDON

(Received November 23. 8.5 p.m.)

LONDON, Not. 23 Hold is rioted to day at £6 5s 10J,d compared with £6 6s Id yesterday.

Silver is quoted at 18|d. an ounce spot and 18 3-16 d forward, compared with and yesterday. The quotation for silver at per standard ounce is and nt, per fine ounce 19 9-16 d, same as yesterdsv.

STOCK SALES

PUREKOHE PRICES

[from ora OWN correspondent]

PUKEKOHE, Thursday

A fair yarding of cattle came forward at, tho stock sale conducted at Tukekoho today by the New Zealand Loan and Mercantile Agency Company. Limited. There was a steady demand for dairy cattle. Jersey cows, on account of Mr. C. C. Deed, of Tuakau, making up to £lO. Fat and store cattle sold at late rates. Best, clairy cows brought from £7 10s to £10; best dairy heifers, £5 10s to fr, 15 2; others, £3 10s to £5 ss; light fat steers, £3 5s to £4; fat cows, £2 to £3; killnble cows, £1 5s to £1 15s; boner cows, 12s 6d to £1; yearling heifers, £2 to £3 ss; smaller, £1 to £1 15s; bulls, £1 to £4 15s. Fat and store aies were yarded in large numbers. The vnlues for store pigs showed an improvement on those of last sale. Heavy baconers made from £1 lfis to £2 3s; medium to light baconers, £1 10s to fl 15s; heavy porkers. £1 4s to £1 8s: light. ISs to £1 2s: large stores, Ms to 17s; slips. 8s to 12s; weaners. 7s to 13s.

MAT AMAT A QU OTATION S The Farmers' Auctioneering Company, Limited, held its usual fortnightly stock sale P.t. Matamata on Wednesday. There was a heavy yarding of fat pigs, which sold at late rates, and an average yarding of stores and weaners, which sold under keen competition at slightly increased rates, ns did 1 medium yarding of sheep. A lighter yarding of cattle came forward, ruling prices being maintained. Values were:—Cattle; Fat. steers, £4; heavy fat cows, £3 18s; fat heifers, £1 17s to £2 15s; killable cows, £1 5s to £2 2s; fresh rows, 18s to £1 3s; boners, 12s to IBs; heavy potter bulls, £3 5s to £4 7s Gd; light, £1 to £2 ss; yearling heifers. £3 to £4; poorer sorts. £1 to £2. Pigs; Heavy baconers. 39s to £2 2s; medium, 35s to 38s; light, 30s to 345; heavy porkers, 27s to 30s; light, 23s to 265; stores, 18s to 21s; slips, 14s to 17s 6d; good weaners, lis to 15b; smaller, 8s to 10s. Sheep; Fat lambs, 10s 6d; fat wethers, lis 6d; extra prime fat ewes, 10s to lis 9d; fat ewes, 6a 6d.