GOOD FOR MERINO

New Zealand Times, Volume LII, Issue 12185, 9 July 1925, Page 8

GOOD FOR MERINO

FIRST DAY OF LONDON SALE LITTLE CROSSBRED OFFERED NEW ZEALAND HALFBREDS SELL WELL Bv Telegraph.—Prww Assn.— Copyright Australian and N.Z Cable Association (Received July 8, 7.30 p.m.) LONDON, July 7. The wool sales opened to-day with an attendance believed to constitute a record. Competition, was excellent, particularly that from the Continent. The sale was most satisfactory. There were few withdrawals. Merinos were mostly taken by the Continent. . *Ol An excellent selection of Sydney greiunes met a keen demand, and sold at par to 5 per cent, over the closing prices of the last sales. Scoured wools were rather less appreciated, but generally were firm. Only a small selection of crossbreds were offered. A few parcels of New Zealand halfbreds met excellent competition, and advanced in price one penny a pound. Scoured wool and slipes have not materially changed in price.

BROKERS’ADVICES BETTER, PRICES RULING. Messrs Murray, Roberts and Co., Ltd : "Sales have opened with a good tone; attendance of ouyers large; competition good; all sections operating. Good selection merino. Compared with last London sales* closing rates, greasy merino advanced 5 to 10 per cent.; best descriptions show the greatest advance. Scoured merino few offering—market shows no material change. Crossbred greasy fine advanced 5 to 10 per cent.; medium and coarse, practically nono offering. Compared with last London sales* opening rates crossbred scoured, market shows no material change; slipe crossbred shows no material change.* The New Zealand Loan and Mercantile Agency Company, Ltd., has received the following cablegram from its London house, under d**t« July 7th: "July wool sales: Tnere, r*as a full attendance at the opening of* the sales to-day, competition by French buyers being good, and prices, as compared with the close of series, ruled in sellers* favour for good heavy merino. Inferior merino was neglected. Other merino and fine crossbred, little change medium and coarse crossbred. Tendency of market easier. Small demand for Home trades. The opening catalogues wero fairly representative.**

Messrs Dalgety and Co., Ltd." Wool sales opened active, with good competition, attendance of buyers is very large, good selection greasy merino—few New Zealand halfbreds, practically no New Zealand or Australian crossbreds offered. As compared’ with last sales* closing rates, better descriptions of merinos par to 5 per cent.' higher, other descriptions firm, except inferior and faulty, which are irregular. Fine crossbreds, unchanged, medium and coarse crossbred a change, if any, is in buyers* favour, slipe i wools unchanged. The tone of the market is much better than last sales. Continental buyers are the principal operators.**

Messrs Levin and Co., Ltd.: —"The auctions opened here to-day with a large attendance of Home and Continental buyers. Good demand from France and Germany., Home trade operating 6pnr-‘ ingiy. As compared with the closing rates of the last sales, we quote*.—Greasy merinos, best per lb dearer, average no change; fine halfbreds, 50-56*s, id per lb dearer; halfbreds. 48-50*s, Id cheaper; fine crossbreds, 46-48*s, 3d cheaper; medium crossbreds, 44-46*s, cheaper; coarse crossbreds, 40-44*s, Ad cheaper; low crossbreds, S6-40*s, Ad cheaper. Better demand for slipes. The Bank of New Zealand, produce department:—"The sales have opened with strong competition and large attendance •of buyers. Compared with the close of last sale, crossbreds are par to one halfpenny cheaper. Merinos are £ullv firm.** x The Bank of New Zealand, produce department, has received the following advice from its London office, under date 7th instant .* —"The sales have opened with strong competition and large attendance of buyers. Compared with the close of last series crossbreds are par to id cheaper. Merinos are fully firm.**