LONDON WOOL SALES

Otago Daily Times, Issue 27040, 26 March 1949, Page 3

LONDON WOOL SALES

BIG NEW ZEALAND .OFFERING Rec. 8 p.m. LONDON, Mar. 24. Over 10,000 bales of New Zealand wools were offered at the March series of the London wool sales, of which 6000 bales were on the growers’ account, states the committee of London wool brokers. Greasy offerings mostly comprised wools from the second shearing, although there were several attractive parcels of scoured wools. Competition came mainly from the home trade with the Continent only active on better styles. As a result prices showed some irregularity and there were some withdrawals. Compared with the rates ruling at the close of the last London sales, greasy fine crossbreds of good style are generally 5 to 7' per cent, cheaper, medium qualities "being up to 10 per cent, cheaper. Inferior crossbreds are fully 10 per cent, cheaper. Necks and pieces are an erratic market and can be quoted at 15 per cent, cheaper. . . , Lambs, however, are in strong demand and are selling well. Scoured wools are about 10 per cent, cheaper. Slipes are mostly early pullings from the freezing works and are selling extremely well. Bradford Quotations Bradford quotations: Merino 70’s 121 d, 64’s UOd, 60’s 105 d; crossbreds, 56’s 66d, 50’s 39d, 46’s 38d. Cablegrams received by the Dunedin branches of the Bank of New Zealand and the Bank of New South Wales state that’ the London wool sales opened with good general competition. Continental interest was confined to finer grades, and the rates for New Zealand scoured wool are in sellers’ favour. The competition was steady on a basis below the extreme prices of the last sales. Compared with the close of sales of February 18. best merino prices were unchanged, and faulty irregular wool was at times 10 per cent cheaper. Buyers favoured medium fine crossbreds, which were 71 to 10 per cent, cheaper. Pieces and bellies were 10 to 12J per cent, cheaper,' and lambs ■ were in strong demand. France was pot operating because of a lack of credits. Tlte average or estimated prices of New Zealand greasy fleece ordinary topmaking wools were: Merino. 60/64, 61d to 64d' fine halfbred, 56/58. 43d to 48d: halfbred. 50/56. 35d to 39d; three-quarter bred 48/50, 25d to 27J,d: fine crosbred. 46/48 24d to 26d; medium crossbred. 44/46 - , 24d to 26d; crossbred. 40/44, 24d to 26d.