LONDON WOOL SALES

Otago Daily Times, Issue 27383, 8 May 1950, Page 3

LONDON WOOL SALES

Commerce

Market Again Strong Good Outlook For Remainder Of Sale Rec. 7 p.m. LONDON, May 5. The market was again strong when the London wool sales were resumed today with an offering of 16,000 bales, including 8200 bales from New Zealand, which were all sold under widespread competition from the home trade and tire Continent. A good selection of crossbred clips from the North Island attracted keen interest and realised prices that generally confirmed the advanced rates reported yesterday, the feature being the strong demand front the Continent lor good style lambs. As a result, these wools advanced 5 per cent, above tile opening rates. Scoured crossbreds and slipes again sold freely, and prices showed no further change. It seems dear that, now the end of the selling season in New Zealand is in sight, the trade is seriously concerned to obtain supplies on the spot market. Although prices for crossbreds are at their highest point of the season and higher than at any time since 1920, linns are being forced to' buy heavily, since stocks have not been built up sufficiently in the past few months to bridge the long interval before the new main selling season opens late in the year. Consequently, today's prices are accepted as inevitable, and the outlook for the remaining two weeks of the London series is considered good. The Committee of London Woolbrokers’ report says: " The range of prices for New Zealand greasy wools mling on the floor at the end of today's selling is:— Merino: 60/64's—Good 84d to 88d. average 77d to 81d. Fine halfbred: 58-56/38's — Good 70d to 75d. average Gad to GBd. Halfbred: 50/sG’s-sG's—Good 55d to 58d, average old to 54d. Fine crossbred: 50's--48/50 s—Good 48d to 5-'d. average 46d. to 475. Medium crossbred: 46's-48/48’s-48's — Good 48d to 49d. average 47d to 49d. Fine crossbred hoggets: 50's/54’s—Good 54d to 56d, average 50d to 53d. Crossbred lambs: Good 53d to 55d, average 49d to 52d. First crossbred pieces: Good 41d to 43d, average 39d to 41d. Crossbred bellies: Good 33d to 40d, average 3Gd to 33d.