THE WOOL MARKET.
GOOD NEWS FROM LONDON. ADVANCE IN CROSSBREDS. A COMPARISON OF VALUES. Wool growers in New Zealand have reason to bo delighted with the latest news from the London wool market last week. The current series of sales closed with brisk competition, and with prices showing an advance on opening rates. Compared with the July series, the finer counts down to 44-46’s, except best greasy merinos, advanced Id to lid per lb, and the lower counts by id to Jd. The average prices for the past three series of sales as given in the cable messages received by Dalgety and Co. compare as under:
There has been steady improvement since the May sales, and if the market stabilises at current prices the position should be very satisfactory for the growers. All grades of crossbred wool have advanced, and as there will be an interval of fully six weeks, which will give the trade time to digest stocks, the outlook for the New Zealand sales which will begin next month, is very promising. The firmness of the London market was apparently due to the keen competition of Continental buyers who secured 60,000 bales out of a total offering of 141,000 bales. Bradford, too, , bought freely, and secured 56,500 bales. It is pleasing to note that the United States bought 3000 bales; this is a small lot, nevertheless it indicates that an improvement has taken place in the textile industry of that country.
May July Sept. sale. sale. sale. 60 64’s — d. d. d. Good to super .. 22 i 243 25| Low to medium .. . 20 21 214 56-58’s— ■ Good to super . 254 244 254 Low to medium . .. 19 i 20 21 £ 5P,> 56’s— Good to super .. 204 21 224 Low to medium .. 18 173 19 48-50’s— Good to super .. 184 log 19-4 Low to medium . .. 15 153 164 46-48’s— Good to super ,. 164 17 174 Low to medium . .. 144 14| 15i 44-46's— Good to super .. lo 15| 164 Low to medium . .. 13i 14 144 40-44’s — Good to super .. 14 144 15 liow to medium . .. 123 123 ISg 36-40’s Good to super .. 134 134 133 Low to medium . .. 114 124 12j
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Bibliographic details
Otago Daily Times, Issue 20222, 7 October 1927, Page 4
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360THE WOOL MARKET. Otago Daily Times, Issue 20222, 7 October 1927, Page 4
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