LONDON WOOL SALES

New Zealand Herald, Volume LXXV, Issue 22955, 5 February 1938, Page 11

LONDON WOOL SALES

CLOSE OF FIRST SERIES TREND OF VALUES BRITAIN " BEST PURCHASER LONDON. Feb. 3 The fir; t wool sales of-the 1938 series concluded with an offering of 5522 bales, including 1530 bales of New Zealand wool, Of the offering -1261 bales were sold. There was a moderate selection and a keen demand with frequent withdrawals among inferior sorts. Throughout the sales 101,500 bales were offered and 84,500, sold. The home trade bought- 47,000 bales, the Continent 36,000 and America 1500. The market eased during tha. series, and compared with the closing rates of last scries prices wero from par to 5 per cent lower. New Zealand greasy crossbred "Hauini," averaged 11 id, with a top price of>l2d; "Waian," averaged OJd, with a top price of lid. There were 53,500 bales of Australian and 25,000 of New Zealand sold, 43.500 of Australian and 18,500 of New Zealand being held over. Greasy Merino closed 5 per cent below last series rates. Scoureds finished,barely-at par; fine and medium crossbrcds, par to 5 per cent lower;, medium and coarse grades almost unchanged. Quotations for good average condition greasy wool at the close of the November series were :—Merinos, super, 60 to 64's, 14d to 15d per lb.; ordinary, 60 to 64's, 12} dto 13Jcl; inferior, 60 to 64's, 10id to lid; ' Halfbreds, 56 to 58's, 13d to 13|d; 56's, 12Jd to 12jd; 50 to 56's, llid'to,l2d; crossbreris,. 50's, llid to lljd: 48 to 50's, 30i<:1 to lid; 46s to 48's, lOJrl to lOjd; 44 to 46's, 10a to 10^d; • 40 to 44's, to lOjd; 36s to 40's, lOd to 10HThe ranee of prices per lb. at the close of the London January ' sales in the past three years compare, as - follow;. : . ' - 1036 1937 1938 d d d d - -d d Merino .. II 3 /, 1-7 • 13 21 • (>% 1-5 Hall'bred . lO'-i 14V, 16Va 'JO 10 • 14V4 Fine xbrrd W/ 2 10>7 4 • 14V, W/ x 11 12% Med. xbred <8 . 14 l / g 15- 9V, 12 Coarse xbred 7% 8 14% 15 •0% ll'/i The second series in Loudon will open on March 10.

ADDITIONAL REPORTS PRICES BELOW BEST POINT Ihe following cablegrams, dated February 13, have beeu received from. London through trade channels:— Lank of New Zealand.—The sales have closed firm for all descriptions of wool. Current quotations'.for good averago condition New Zealand ' creasy wools are: —Merinos, super, 60-64's, 14d to 15d per lb.; ordinary, 12rl to 13d; inferior, 9Jd to 10(1; halfbreds, .. 56-58's, . 12Jd to 13id; 56'js, 12d to 12id; 50-56's, lljd to 12Jd; crossbreds, 50's, IOJd to Hid; 48-50's, IOJd to llid; 46-48's, IOJd to llcl; 44-46's, 10Jd .to lid; 40-44's, IOJd to lid; 36-40's, IOJd to lid. ' „ f Bank of New South Wales.—The' saks closed with good general competition. Compared with the openirfe sales crossbreds were generally 5 per cent cheaper. Average or estimated prices of New Zealand greasy fleece ordinary topmaking wools arc: —Merino. 60-64's. 12(1; fine half bred, 56-58's, l3dfhalf--bred. 50-56's, «12} d; threequarter-bred, 48-50's, lid; fine crossbred, 46-48's, 10:td; medium, 44-46's, 10dj crossbred, 40-44's, lOd. Dalgetv and Limited. —The sales closed with good . competition from the Home trade and the Continent but prices are below the best point for most descriptions. As compared =with ; closing rates of • last series, greasy Merino was fcl to Id per -lb. lower; , Merino scoured, Id to ljd lower; greasy half bred, Jd to Id lower; scoured halfbred » Id lower; greasy crossbred, fine, id to Id lower; greasy crossbred, medium, id to id lower; greasy crossbred, coarse, id to id lowerj crossbred, fine, scoured, id to Id lower; crossbred, medium and coarse, scoured, par to id lower; slipes, halfbred and crossbred, fine, Id to lid higher; slipes, medium and coarse, id higher; pieces, Id to lid higher. Following is the range of prices:— Merino, good to super, 12id to 15d; low to medium, lOd to 12d; halfbred, 56-58's, good to supe'r, 13d to 14Jd; low to medium, IOJd to 12Jd; halfbred, 50-56's, good to super, llid to 13d; low to medium, lOd to Hid; fine crossbred, 48-50's, good to super, llid to 12Jd; low to medium, 9|d to llcl; fine crossbred. 46-48's, good to super, lid to 12id: low to medium, 9id to crossbred, 44-46's; good.. to super, lOjd to 12d; crossbred, 44-46's, lew to medium, 9id to 10id; crossbred, 40-44's, good to super, IOJd to lled; crossbred, 40-44's, low to medium, 9id to lOJd; coarse crossbred, 36-40's, good to super, 10Jd to lljd; medium to good, 9Jd to IOJd. ' •/.:* . New Zealand Loan and Mercantile Agency Company, Limited.—The sales closed firmly. There was good all-round competition. As compared with, last sale closing rate's, prices are: —Lower:, id to Id per lb. for medium Merino, scoured aucl super, greasy and inferior, and fine greasy crossbred; id per lb,, for medium greasy crossbred and coarse greasy crossbred; par to id per lb. for j scoured -Merino inferior;. Id pef lb- for | greasy Merino super. Higher: id to Id j per lb. for Merino and, crosshred lamb j and scoured crossbred; id to Id per i lb. for crossbred slipe. i ; I STOCKS OF RUBBER LONDON. Feb. 8 Stocks of rubber 'at the end of January, as compared with recent months, were:—' - • Oct. Nov. Dec. ' Jan. Tot'is Ton« Tons Tons London .. 30,455 32,232 35,610 89,822 Liv« rpool . 21,371 21,355 22,008 21,708