DEMAND FOR WOOL

New Zealand Herald, Volume LXXIII, Issue 22578, 17 November 1936, Page 5

DEMAND FOR WOOL

FINAL LONDON SALES UNUSUAL INTEREST AROUSED ACTIVITY IN CROSSBREDS LONDON, Nov. 15 The Yorkshire Observer says unusual interest is anticipated in the wool sales owing to tho position of the raw material market overseas and the predicament of many Bradford wool merchants, which is expected to cause a keen demand from home buyers. Yorkshire's wool stocks at present are very small, necessitating the Australian new clip of Merinos immediately to meet the pressing demand for tops. A lively demand for crossbreds is also expected owing to Bradford's enormous consumption. Moreover, good Continental competition is expected.

The sales which open to-dnv are the sixth and final series of tho London auctions for the 1936 season. They will conclude on December 2. .More than the usual interest in the Dominion attaches to this series owing to the proximity of the New Zealand selling season, which opens in Auckland on November 28. Tho prices realised in London always provide a valuable indication of the trend of values at tho opening Dominion Kales. The catalogue for the London auction comprises 100.500 bales, including 41,100 bales of New Zealand. THE SYDNEY SALE 3 MARKET REMAINS FIRM (Received November 10. lO.QS p.m.) SYDNEY, Nov. 16 At the wool sales 12.725 bales were offered and 11,7-37 sold, 1996 privately. The market was very firm at the closing rates of last week for all descriptions. Competition was keen and ueneral. Greasy Merino made up to 30Jd per lb. The average price last week was £2l 18s 10d a bale, or 16.9 d per lb. AUSTRALIAN REALISATIONS HIGHER AVERAGE PRICES Four months' sales of the Australian wool clip, from July to October, have realised £12.509,083. The total number of bales sold was 715.094. The average price a hale was £l7 9s lOd and per lb. 13.6(1, as against 12.9-ld in the similar period of 1935 and 9.6 d in 1934. The average price per lb. of scoured wool was 21.4 d, against .13.3d for greasy.