WOOL IMPROVES

New Zealand Herald, Volume LXXV, Issue 23203, 24 November 1938, Page 9

WOOL IMPROVES

KISE IN CKOSSBEEDS FIRM LONDON RATES ■ GOOD , OPENING DEMAND MERINOS LESS FAVOURED The sixth and final series, of I.ondon wool sales of the rear, opened oq Tuesday. A Press Association cablegram sta,tes that Merino wools opened slightly easier than rates at the close of tho September, series. Fine crossbreds were unchanged and medium and coarse crossbreds were 5, per -cent dearer. ' ' . ;• • The day's offering comprised 9441 bales, including 3096 bales of New Zealand wool. A total of-.'7940. bales was sold. There was a fairly good selection and keen competition. . Scoured Merinos and crossbreds woro in best demand. Greasy Merinos wero largely withdrawn, owing to the absence of. Continental support. Merinos sold at- par and crossbreds and slipes at'-, par to.' 5 per cent higher, compared with, rates at the close of tho last series. V- " ''•' , Quotations for good average greasy wools at the close of the September series were:—Merinos, super, 61) 64 s s, i-1d to 143 d per lb.; ordinary, (SO-frl's, 12d to 13d; inferior. 60-S4's, U£d to lOd. Halfbreds. 56-sS's, 12d to 12id; 56's, Hid to 12d; 50-56's, lid to llid. ~ Crossbreds, 50's, 10jd to lid;' 43-50's, 10 Jd to 10gd; 46-48 ? s, lOd to lOJd;' 44-46's, lOd to' 10|d; 40-44's, lGd to lOJd; 36-40's, lOd to 10.id." The- soles will continue, until December 7.- Tho catalogue totals 110,500 bales, and includes 39,200 bales from New Zealand, acd 61,150 from Australia. The first series, of sales in 1939 will commence on January 19. RANGE OF VALUES LARGE MEItINQ OFFERING Reports upon the opening of th® sales received through trade channels are as follows:- . . Bank of New Zealand. —The Sales have opened with, strong competition and a large attendance of buyers. Compared with the close..of the last series, fine crossbreds are unchanged, medium crossbreds id to Jd per lb. higher, and coarse crossbreds id per lb., highor. Dalgety and Company, Limited.—i The attendance was large, with competition fairly animated and. the selection good. Two-thirds of the offering was Merino. The home trade was the principal operator, with tho Continental demand fair." As" compared with the. closing rates of. the- last. series, Merino greasy was par to 5 per cent lower, Merino scoured a]hout the same, cross-o; bred greasy, fine, at par, greasy crossbred. 'medium arid coarse, 5 ; per cent higher, slipes, fine, unchanged, .slipes, medium and coarise, 5 per oent higher, scoured crossbred i unchanged. ... ; New Zealand 'Loan,-and Mercantile Agency Company!, Limited. —The sixth series opened witli keen general competition. There was; an average to good selection. Crossbrbd and slipe were generally in sellers' favour. Superior crossbred slipe combing was per cent higher; crossbredi. scoured, 10 per cent higher. Merino, | inferior, greasy, was from par to 5 pier cent lower,'with & poor selection. Crossbred greasy be quoted later in the week. SYDNEY MARKET ' ACTIVE GOOD SUPPORT FROM CONTINENT^ (Eeceived November 23, 10.15 p.m.) : i j ' • . . SYDNEY, Nov. 23 ' At the wool sales 12,918 bales were offered and 12.0157 bales sold, 939 privately. There was animated and strong competition front all 'sections, particularly the Continent.. Greasy Merino made to 214 d p<i!r lb. THE AUCKLAND SALE CATAT.OCITE FfLLRi) ... . . • • TOTAL 0F f BALES "QUITE GOOD PROSPECTS" Prospects for 'the first sale of the 1938-39 Zealand season, to be held, at the Auckland Town Hall concert chamber on Saturday, look quite good, according to' Mr. B. JVMarquet, ' chairman of.the Auckland; "tooolbrokers' Association, ■ when, commenting yesterday on the rise in prices lor-crossbreds at the opening of the London, series. Practically all tho overseas and New Zealand buyers have arrived in Auckland, and a systematic appraisal bf the clip, was commenced yesterday. Buyers will require three days to complete their scrutiny, as added interest is taken in gaining a guide to:the quality of tho new season's clip. The Paraell stores presented: a comparatively quiet appearance yesterday after , the rjilsh or the last few days, although buyers and their assistants were busily engaged in noting the points of each- lot. ; Many growers are : -expected to come to Auckland again this year to obtain an impression c»f the prospects. at first hand, and to hear the' eagerly-awaited I verdict on theiif own lots. Wool is still j arriving steadily at the- Stores, and it I is estimated that between. 3000 and 4000 bales will bo held until the. second Auckland auction on January 24. There has been no noticeable tendency for growers; to hold over their .clips until this salo. The quantities to be offered by the various brokers"and the order ,of sale are as follows: — . , Bale 3 . Abraham and Williftms and Wricht. Stephenson (in conjunction with. Newton King) ... •• •• 4,170, Alfred Buokland and Sons r.. l,<oo Farmers' Co-op. Auct. Cc. (in conjunction nith Auckland Farmers' Co-op.) .. •.. '6.501. N.Z. Loan and Mercantile ~. .. 0.4.a Dalgety and Company .. 6.048 Total .. ... . 24.151 The catalogue is composed mainly ofi ; crossbred wools, the demand for .which will set the'market, tone, as quantities of fiucr wools anv. insufficient to influence tho general result"; Very little lambs' wool is being offered. Small- parcels predominate, but the catalogue includes binned lots in which there are as mariy as 100 bales. " ARGENTINA'S WHEAT LARGER AREA SOWN (Received November 23, 7.47 p.m.) BUENOS AIRES, Nov, 22 . The Argentina Ministry:-of Agriculture estimates that the area sown in wheat is 8,445,000' hectares, an increase of 8.6 per cent over the 193"-3sJ season. K - ' EGG PRICES; ADVANCE The Auckland Egg Marketing; Committee announces ■ that the wholesale, price of first grade hen eggs has been advanced 2d. a dozen, and B grade andj cluck eggs by Id a dozen. RateS aru:--i Hen: First grade. Is Bj;d a dozen; i> grade, Is 6,Jd. Duck: First V"! Is 7id a doz<m;' B: grado/ Is Country storGkeep.ers mimxiium - prices for first" grade eggs are: - 1 - Is 3id a dozen:; duck, Is 2Jd.-