WOOL PRICES LOWER

New Zealand Herald, Volume LXXI, Issue 21910, 20 September 1934, Page 7

WOOL PRICES LOWER

LONDON SALES OPEN GENERAL COMPETITION GERMAN BUYERS ABSENT The movement toward lower values for wool still operates, judging by the prices ruling at the opening of the September series of London sales on Tuesday. The fine wools showed the greatest percentage decline, about 10 per cent to 15 per cent, medium and coarse crossbred being about 5 per cent lower than the closing rates of the July series. ■' '■■

A Press Association message sent from London on Tuesday states that at the sales, 11,016 bales were offered, including 2520 from New Zealand, and about 5165 were sold. There was a fair selection and a large attendance, but German buyers were absent. There was good general competition. Compared with the July closing sales, greasy Merino were 7\ to 10 per cent lower, scoureds 10 to 15 per cent lower, and crossbreds and slipes 5 to 10 per cent, lower.

A New Zealand clip, siipe halfbred lamb, "Belfast," sold as follows: Top price, 13d; average, 12Jd. The range of prices at the close of the July series was;— Greasy Merinos, 60 to 64, 13d to 15£ d per ib.; greasy Merinos, ordinary, 60 to 64, 11 id to 12} d; greasy Merino, inferioT. 60 to 64, 9d to 10jd; greasy halfbreas. 56, Hid to 12j(d; greasy halfbreda, 50 to. 56, 9|d to 10jd; greasy croßsbreds, 50, 8d to 48 to 50, 7d to 7id; 46 to 48. 6*d to 7sd; 44 to 48, 6d to 6Jd: 40 to 44, oid to 6d; 36 to 40, 5Jd to s|d. The following table compares pfices with those at the opening of the September series in the past two years:— 1932 1933 - 1934 ~.dd d d d d Merino .. 8 12 Hi 17 8 14 Halfbred • • .. 9 12 Fine crossbred .. 7 81 7J 10} 6 Si Crossb red . .. 6 ? 6} 7 51 61 Coarse crossbred. £J 6} 6 6J 5 5J An encouraging feature of the sales is the good competition, according to trade opinion. There was no doubt that wool was wanted by the manufacturing countries, who evidently were prepared to operate extensively at lower prices, it was stated yesterday*. The German embargo was Rtill troublesome, as it hindered a full expression of. the natural demand from that country. However, wool could and would go'into consumption provided growers met the market. REPORTS ON THE SALE BRADFORD CHIEF OPERATOR The following .private . ~cablegrams, dated September 18, have been received! : Bank of New Zealand. —The sales opened with good competition at a lower range of values. Compared with the closing rates of last series, Merinos are Id to lid lower; fine crossbred, id to |d lower; medium and coarse crossbreds, Jd to id lower. Dalgety and Company, Limited.—The sales opened with an average attendance and good competition at a lower price level. The Home trade. buyers were the'principal operators, \rith some support from Belgium and France. As compared with the closing rates of the last series greasy Merino, good, were 10 por cent lower; inferior and faulty, 15 por cent lower; scoured Merino, 15 per tent lower; crossbred, barely represented; crossbred, fine, 10 per cent lower; crossbred, medium and coarse, 6 per cent lower. New Zealand Loan and Mercantile Agency Company, Limited.—There was a good attendance at the opening of the sales, competition by Home buyers being fairly active. The opening catalogues were representative. As compared with the closing rates at the last sales prices are lower id a pound for crossbred slipe, medium and coarse greasy crossbred; lower Id to lid a pound for scoured Merino, inferior and greasy Merino; 3d to 4d for superior scoured Merino: Jd for scoured and fine greasy crossbred. SYDNEY MARKET FIRM EXCELLENT COMPETITION OVER 5000 BALES SOLD Received September 19, 7.85 p.m.) SYDNEY, Sept, 1» At the Sydney wool sales to-day 6648 bales were offered and 5527 were sold. Also 479 bales were sold privately. The market was firm, with excellent Japanese, Yorkshire, French and German competition. Greasy Merinc sold to 14id for six bales from Werris Creek. MELBOURNE AUCTIONS PRIOEB DISHEARTENING DECLINE ON LAST YEAR MELBOURNE. Sept. 19 The wool selling season for Victoria waa begun to-day, when 5500 bales were offered. Prices were disheartening, the market being 25 per cent lower than at the first sales last year. However, values suffered no decline on the rata realised in Sydney.