WOOL STILL RISING

New Zealand Herald, Volume LXXI, Issue 21702, 18 January 1934, Page 5

WOOL STILL RISING

LONDON SALES OPEN CROSSBREDS MUCH FIRMER YORKSHIRE CHIEF BUYER LONDON. Jan. 16 At the opening of the London wool sales to-day 11,064 bales were offered and about 9540 were sold. There was a good representative selection, a crowded attendance, and animated general competition. Yorkshire and Germany took tho bulk of the shafty Merinos, and Germans and French the other Merinos. Yorkshire was the chief buyer of crossbreds, but Germans were also active. Advances compared with December closing were: —Merinos, greasy, 15 per cent; scoureds, 10 to 15; erossbreds, line, 25; medium and coarse, 20. New Zealand greasy crossbred lambs, "Omoko," brought 18Jd top price, with an average of 17id.

Average prices at the close of the last series of London sales in December were as follows: —Greasy Merinos, 60-64's, 17id to 18id per lb.; greasy Merinos, ordinary, 60-64's, 15$ d to 16d; greasy Merinos, inferior, 60-64's, 12£ c- to 13kl; greasy halfbreds, 56's, lo|d to 16Jd; 50-56's, 13d to 14d; greasv erossbreds, 50's, IOJd to 48-50's, 9id to lid; 46-48's, BJd to 9id; 41-46's, 7Jd to SJd; 40-44's, 7Jd to 7Jd; 36-40's, 7d to 7Jd. The following private advices have been received: — Bank of New Zealand.—Tho sales opened with keen competition. Compared with the close of last series, Merino is 2d to 2Jd, fine crossbred 3d to 4d, and medium and coarse crossbred 2d to 2£d per' lb. higher. Dalgety and Company, Limited.— The sales opened with good general competition. There was a large attendance and a good selection. As compared with closing rates of last series prices were: Greasy Merino, 15 per cent higher; pieces, free, 15 per cent to 20 per- cent; scoured Merino, 10 per cent to 15 per cent; pieces, 15 per cent to 20 per cent; greasy crossbred, fine, 20 per cent; medium, 20 per cent to 25 per cent; 50's, 25 per cent; slipe, 15 per cent to 20 per cent; Australian skin scoured crossbred, 15 per cent; scoured crossbred, 20 per cent. N.Z. Loan and Mercantile Agency Company, Limited.—There was a full attendance at the opening of the sales to-day, competition by- home and Continental buyers being active. The opening catalogues were representative. As compared with last sale closing rates, prices are higher 2d to 2id per lb. for crossbred slipe, coarse greasy crossbred, and greasy Merino; 2Jd to 3d per lb. for Merino scoured, medium and fine greasy crossbred; 3d to 5d per lb. higher for scoured crossbred. KEEN COMPETITION AUCTIONS IN SYDNEY CROSSBREDS AT LATE* RATES (Received January 17. 9.45 p.m.) SYDNEY. Jan. 17 At the Sydney wool sales to-day, 11,705 bales were offered, and 9813 were sold. Also 968 bales were sold privately. There was keen competition, principally from Japan, Bradford and Germany, but the discrimination recently reported for spinners' wools was again in evidence, and prices for these showed a decline of 5 per cent. Good and average top-making sorts were keenly demanded, although values ruled from par to 5 j)er cent lower. Comebacks and erossbreds were in strong request, and sold at full late rates. Greasy Merino made to 343 d for five bales from Yass. WHEAT IN AMERICA CHICAGO. Jan. 16 Wheat.—May, 91J cents a bushel; July, BS| cents; September, 89J cents. Tho New York price for cash is 1 dollar Of cents.