FIRM WOOL PRICES

New Zealand Herald, Volume LXXII, Issue 22172, 27 July 1935, Page 9

FIRM WOOL PRICES

CLOSE OF LONDON SALES GOOD BUYING SUPPORT RUSSIA TAKES CROSSBREDS A firm tone was maintained in the wool market at the "close of the July series of sales in London on Thursday. There was good support from buyers, with Russia operating in greasy crossbred. Closing prices of the series were about on a par with the opening rates but were higher generally from to l£d per lb. compared with the closing rates of the May series. A Press Association message sent from London on Thursday states that on the v closing day 7704 bales were offered, including 2434 New Zealand. About 4414 bales of Australian and New Zealand were sold. New Zealand slipe halfbred lambs' "Feilding" realised 13d top price and 10} d average. After a setback toward the end of the second week of the series the demand widened and the sales closed firm with prices tending in sellers' favour. Compared with May closing rates, Merinos, greasy, warp character, were 10 per cent higher, purely continental styles, topmaking fleeces, 5 to 7J per cent tip, scoureds, find} bulky, 5 per cent, broader styles, 5 per cent, inferior and faulty sorts, par to 5 per cent. Crossbreds fine and medium, helped by recent Russian support, were 10 to 15 per cent higher and slipes 7J per cent. The total wool catalogued was 120,164 bales. Sold:—Home, 59,000; Continent, 40,500. Held 72,000. The total sales of Australian were 45,000 bales and of New Zealand, the same. Prices per lb. at the close of the July series in London in the past three year's compare as follows: 1933 1934 1935 ✓ .ddd d d d Merino .. 10 15 9 15V u 11 16 Halfbred .. 10 13V, 97, 12'/ a 9% 12 Fine xbred . . 5 3 ,J 8% 6 l / a 9 7% 9Y, Med. xbred .. 5V 2 6 5V 3 6% 7 V/ a Coarse xbred 5% &*/ A SV, 5% 6% 7 Commenting on the market yesterday, Mr. B. J. Mnrquet, chairman of the Auckland Woolbrokers' Association, said the continued improvement was welcomed by growers in the Dominion. The past season was disappointing, but the prospects for the coming year were more favourable. The industry did not want to see prices move too rapidly, as the sharp rise in the first part of the 1933-34 season was a short-lived ■ one and tended only to retard permanent recovery in values. Present London prices were bordering on what were considered payable values. PRIVATE CABLEGRAMS THE RANGE OF PRICES The following private cablegrams have been received:— Bank of New Zealand.—The sales closed firm for all wools. The market for greasy crossbreds is very strong. Current quotations for good average condition: —Greasy Merinos, 60-64'ij, 15d to 16d per lb.; ordinary, 60-64's, 13 Jd to 14d; inferior, 60-64's, lid to lHd; greasy halfbreds. 56's, lid to 12d; 50-56's. 9jd to lOd; greasy crossbreds, 50's, 9d to 9Jd; 48-50's, BJd to 9d; 46-48's, 7*d to 8d; 44-46's, 7id to 7jd; 40-44''s, 7d to 7sd; 36-40's, 6j[d to 7d. New Zealand Loan and Mercantile Agency Company, Limited. —As com pared with last sales' qlosing rates i prices are higher Id to per lb. for greasy Merino super, greasy Merino medium and fine greasy crossbred; higher Id i>er lb. for greasy .Merino inferior and medium greasy crossbred; higher $d to Id per lb.' for coarse greasy crossbred; higher id per lb. for Merino scoured; higher par to Id l>er lb. for crossbred slipe and scoured crossbred; about the same for lambs. Merino and crossbred. The sales clossed with a fair!# firm tone. Competition by both Home and Continental buyers is fairly active. Dalgetv and Company, Limited. —The sales have closed. Competition is good,. the Home trade being the principal operators, with fair support from the Continent. Russia h buying greasy crossbred. As compared! with the closing rates of the last series, greasy Merino are Id higher; scoured, irregular, par to rather, louver; greasy halfbred, Id to ljd higher; scoured, par to rather lower; greasy crossbred, fine, $d to 3d higher; medium, Jd higher; coarse, id to Jd higher; scoured crossbred, par to id lower: greasy lambs, unchanged; combing slipes, par to id higher; clothing slipes, unchanged. The following is the range of prices:— i; Merino, good to super, 13id to 15dj low to medium, lid to 13d; halfbred, good to super, 13jd to 14id; low to medium, 10id to 123 d; halfbred, 50-56, good to super. 9Jd to Hid; low to medium,. 8d to 9id; fine crossbred, 48-50, good to super, Bsd to 9d; low to medium, 6Jd to 8d;: fine crossbred, 46-48, good to sujjer, 8d to BJd; low to medium, 6id to 7jd; crossbred, 44-46, good to super, 7id to BJd; low to medium. 6Jd to 7id; crossbred, 40-44, good to super, 7id to 7Jd; low to medium, 6d to 7d; coarse crossbred, 36-40, good to super, 6£d to 7£d; medium to good, 5Jd to 6Jd. WHEAT IN AMERICA - . RAVAGES OF BLACK RUST BIG LOSSES PREDICTED (Received July 2G, 5.5 p.m.) NEW YORK. July 25 . A message from St. Paul, Minnesota, states that black has shrouded the spring wheat belt so darkly that observers predict a 50 per cent reduction on the originally estimated 273,000,000 bushels from the great grain belt. The rust has run westward from Minnesota, through North and South Dakota, into Montana. Only a quick change from the present hot and humid weather could stay the spread of the rust. MARKET QUOTATIONS CHICAGO AND NEW YORK CHICAGO. July 25 Wheat. —July, 86 "cents a bushel; September 86£ cents; December, 87 j cents; May, 90| cents. The New York price for cash is I dollar 8$ cents. MELBOURNE PRODUCE MELBOURNE, July 2G Following are to-day's quotations on the Melbourne produce market: — Wheat, 3s 2*d to 3s 3d. Flour. *lO 7s fid. Bran, £4 15s. Pollard, £5 ss. Oats. 2s 3d, Barley, English, 2s 7d to 3s. Maize, 4s 6d. Potatoes, £lO to £lO ss. Onions, £9 os. VALUES FOR HORSES [from our own correspondent] rUKEIvOHE. Friday 4; The demand for nil working horses was exceptionally ke?n nt the fortnightly horse fair held by Alfred Buckland and Son*. Limited, at Wkohc to-day. The yavdms was small and a poneftJ draj-anie was effected. Young activ at £i"2 to £3B; lighter farm hcw*e*,£2o va £•27 10s: light harness horses and hacks, ti to £IC: aged draughts, to £22Further commercial news appears on | page 11,