THE WOOL MARKET.

Otago Witness, Issue 3443, 9 March 1920, Page 14

THE WOOL MARKET.

(By Cable.)

LONDON, February 28. The wool sale 3 closed firm. The catalogues totalled 145,000 bales, and about 138,000 bales were sold. The withdrawals were chiefly lower-grade crossbreds. Competition was well maintained throughout. Good greasy combing merinos averaged about 7J per cent, above the January level. Fine crossbreds were slightly below January rates; medium and coarse crossbreds were 5 per cent, below; and fine crossbreds and slipea were from par to 7J per cent, below January rates. WELLINGTON, March 2. The following is a copy of a telegram received from the Director of Raw Materials-, dated London, February 28, 1920, to the Department of Imperial Government Supplies, Wellington:—"February series of auctions closed on February 27, 136,785 bales having been offered, of which 45,000 were New Zealand wools. As compared with the January series, best merinos showed an advance of 10 per cent.; on average descriptions of wool from par to 5 per cent, advance. Fine crossbreds were unaltered, and medium grades were 5 per cent, easier. Coarse descriptions of wool are still'neglected. Seconds and slipes in finer qualities are unaltered. Other descriptions are 7J per cent, cheaper." 1 Messrs Dalgety and Co. have received the following cable from London, dated February 27:—"Wool sales opened; very firm for wools of fine quality; coarse wools irregular; Home trade, American, and French buyers are buying freely. As compared with last sales closing rates best greasy merino combing 5 to 10, per cent, higher; merino wools and other descriptions, par to 5 per cent, higher; merino combing, scoured, par to 5 per cent, higher; short faulty scoured, unchanged; crossbred wools, fine quality, unchanged; crossbred wools, medium quality, par to 5 per' cent, lower; coarse crossbred wools neglected ; crossbred slipe wools, 1\ per cent lower."

Messrs Murray, Robarts, and Co. have received the following cablegram from their London agents:—"Sales have closed. Fine crossbred shows no change; medium and coarse crossbred 1 , par to 5 per cent, decline."