LONDON WOOL SALES

New Zealand Herald, Volume LXXIII, Issue 22421, 18 May 1936, Page 5

LONDON WOOL SALES

CLOSE ,OF MAY SERIES * MORE ACTIVE TONE SOME PRICE REDUCTIONS The May series of London wool sales closed on Friday with the market more active than at the opening of the sales. However, crossbreds were less keenly sought. A feature of the series was the strong tone of crossbreds, the medium and coarse sorts being practically the only wools which have not declined slightly on the closing rates in March.

A Press Association message sent from London on Friday states that 6909 bales were offered on the closing day, including 2547 New Zealand, and 4909 bales were sold. There was a moderate selection, consisting, largely of crossbreds, which were less keenly competed for, buyers apparently having satisfied their requirements. As a result withdrawals increased all round.

A New Zealand scoured Merino clip, "Avieinore," realised 23d top price and 23d average. Slipe half bred lambs, "Fielding," sold for 154 d top price and lid average. During the series 83,900 bales were offered and 64,500 bales were sold. The home trade bought 36,500 bales, the Continent 27,000, America 1000, and 32,500 bales were held over, of which 21,000 were not offered. The total sales of Australian were about 16,000 bales and of New Zealand, 33,000 bales. The French election uncertainties resulted in the Continent practically withdrawing from the market at the opening of the sales. Prices thus yielded more than expected. Super Merinos were 5 per cent lower than at the close of the March sales; medium and inferior were 5 per cent to 7J per cent lower; fine crossbreds declined by 5 per cent, and medium and coarse crossbred hardened ;>' t ' and closed at par. Quotations for good, average condition at the close of the March series - > were:—New Zealand greasy Merino, super, 60 to 64's, 17id to 18Jd per lb.; ordinary, 60 to 64's, 15d to 16d; inferior, 60 to 64's, to 13d; halfbreds, 56 to 58's, 14d to 15d; 56's, 13d to 13£ d; 50 to 56's, 10Jd to 11 Jd; crossbreds, 50's, 9Jd to lOd; 48 to 50's, B£d to 9d; 46 to 48's, BJd to Bsd; 44 to 46's, BJd to B|d; 40 to 44's, B£d to B£d; 36 to 40's, BJd to Bj}d. Prices per lb. at the close of the May sales in the past three years com- J r pare as follows: — 1934 1935 1936 d d d d d d ' Merino . . 13 to 21 10 to 141 12 to 17* j Halfbred . . 12 to 161 8J to 11 10J to 14 jf' ; ; Fine xbred 8 to 10 7 to 81 8i to 10 i Med. xbred 7 to 8 61 to 7 BJto 81 Coarse xbred 61 to 7 6J to 61 8i to 81 PRIVATE CABLEGRAMS RANGE OF QUOTATIONS - The following caWegrams, " dated May 15, have been received:— ■ , Bank of New Zealand.—The sales I have closed firm for all kinds of wool j with the market more active, owing ito increased demand. Current quotations for good, average condition:— \ Greasy Merinos, super, 60 to 64, 17d to |l7id per lb.; ordinary, 60 to 64, 14$ d " ! to loid; inferior, 60 to 64, 12d to 12jd; halfbreds, 56 to 58, 13£ d to I4d; 56, 12d to 13d; 50 to 56, 10id to lid; cross- : breds, 50, 9sd to lOd; 48 to 50, BJd tc *> | 9d; 46 to 48, BJd to Bfd; 44 to 46, Bsd I to Bid; 40 to 44, Sid to BJd; 36 to 40, I Bid to Bjd. "tp Dalgety and Company, Limited.—Thr sales closed with competition active. j The Home-trade were the principal ~ j operators, but the Continent was oper ating more freely than at the opening j of the series. As compared with the closing rates of last series:—Greasy Merino. Id lower; scoured, par to Id lower; greasy, halfbreds, £d to I'd lower; ; scoured, par to Id lower; greasy cross- ! bred fine, id to Jd lower; medium and i coarse, par to id lower; scoured cross- ! bred. £d to Id lower; slipes, halfbred, !Id lower; other descriptions, par to id lower; greasy lambs,, id to Jd=_; lower. Following is a range of prices:—.7 Merino, good to super, loid to 18d ,per lb.; low to medium, to 15d; halfbred, 56 to 58, good to to 1. 17d; low to medium, lid to 14d; 50 to 56. good to super, 10} d to low to medium, Bjd to 10£ d; fine crossbred,48 to 50, good to super, B|d to 9§d; low to medium, 72d to Bjd; 46 to 48. good to super, B£d to 9id; low to medium, 7£d to Bid; crossbred, 44 to 46, good to super, BJd to 9d; low to medium, 7id tc good to super, Bid to 9d; low i to medium, 7id to Sd; coarse crossbred, 36 to 40, good to super, 8d to Bjd.-, v . medium to good, 7id to 7|d.

SEASON IN DOMINION A LARGER TURNOVER Sales of wool in New Zealand during. • : the 10, months of the produce season ended April totalled 752,254 bales, com- inpared with 475,692 bales sold in corresponding period of 1934-35, accord- • ing to returns compiled by Dalgety and ''' Company, Limited. In Auckland 86,695'; V bales were sold, against 44,914 bales. During the 10 months' period 821,58.' J bales have been exported, 95,978 bale.being shipped from Auckland and Opua In the same period last season total exports were 518,206 bales, of which 51,411 bales were from Auckland and Opua. RAGLAN DAIRY COMPANY Mr. \V. A. B, Young, of Kaitiekie, -- Taumarnnui, has been appointed manager of the Raglan Co-operative Dairy Company's butter factory.