THE WOOL MARKET

Poverty Bay Herald, Volume LX, Issue 18265, 7 December 1933, Page 8

THE WOOL MARKET

FEVERISH COMPETITION WELLINGTON SALES PRICES HARDENING (Per Press Association.) WELLINGTON, this day. The wool sale continues with feverish competition, tire opening prices being fully sustained. It is authoritatively estimated that they are 100 per cent, better than at the last December sale. At luncheon, considered wool-broking opinion was inclined to the belief that prices were quite up to, if not above, tho Auckland opening sale, and certainly above the Napier prices on all better class of wools opened, but an exception must be made of rougher and coarser wools, especially seedy lines. These, however, commanded quite good prices, considering their condition. It was noticed, too, that passings were rather less frequent as the sale proceeded. Mr. Bertram Parkinson, head of the Bradford firm bearing his name, was an interested onlooker. His firm is among tlm largest buyers of New Zealand wools, but Mr. Parkinson himself is on his first visir, to tho Dominion. He expressed himself as agreeably surprised at the great improvement shown in the quality of the wool offered to-day, and spoke from first-hand knowledge, having visited the local wool stores and seen for himself the wool opened up for buyers' inspection and valuation. He was of the opinion that the improvement was to he attributed to favorable climatic conditions this season.

GISBORNE AVERAGES Since the Napier wool sale on Friday, some of the individual clip averages for the Gisborne district have been carefully worked out. In one instance, the average for a wiioio clip, including wet and dry shearing, was slightly above 12)Jd, while others comprising the results of dry shearing only made higher average rates. Early advice of the sale in Wellington to-day states that values are firm on Napier, sometimes a little better. However, the first approximate range of prices given does not substantiate this in every instance, although it is very difficult to form an accurate opinion of a market until selling has been completed and reference made to each catalogue. LONDON SALES CLOSE PRICES REMAIN FIRM (Elec. Tel. Copyright—United Press Assn.) (Received Dec. 7,2 p.m.) LONDON, Dec. (1. At the wool sales, 7101 bales were offered, including 15394 from New Zealand, and about 0000 bales were sold. The sales closed steady at late rates. Compared with October closing rates, merino, greasy superior, were barely 15 pei' cent dearer; medium, 124 per cent; inferior, 7£ to 10 per cent; aeoureds, all round, 15 to 20 per cent; crossbreds, fine, barely 25 per cent; medium, 20 per cent; coarse, 15 per cent; and slipes, .10 to 15 per cent, dearer.

The total catalogued was 113,(130 bales, that sold to home buyos totalling 50,200 bales, and to the Continent 58,100 bales, the amount held over being 21,000 bales. The total of Australian sold was 5(5,000 bales, and or' New Zealand 4(5,500 bales. Now Zealand sales: Greasy crossbred, WFJ/K, 12fd; slipe half bred lamb, WKM/TBS, top ISd, average RUd.

The Gisborne Nheopfarmers’ Frozen Meat and Mercantile Company have received cabled advice from London that the sixth series of London wool sales finished yesterday. In all, 105,000 bales were sold, the home trade taking 49,000 and the Continent 56,000 ; 21,000 bales were carried forward. As compared with tho closing rates of last series, prices showed an all round advance as under: Merinos. —Greasy, good to super 10 to 15 per cent., low to medium 10 per cent.; scoured, good to super 10 to 15 per cent., low to medium 15 per cent. Crossbreds.—Greasy, fine 20 to 25 per cent., medium and coarse 20 per cent. Scoured.—-Fine, 2)0 per cent.; medium, 15 per cent.; coarse, 10 to 15 per cent. Slipe.—ls to 20 per cent.

The New Zealand Loan and Mercantile Agency Company have received tho following cablegram from London, dated Dec. 7: —‘The sale closed firmly to-day. As compared with last sales’ closing rates, prices are higher by 2d to 2Ad per lb. for medium crossbred, merino lambs, and fine greasy crossbred; by lid to 2d per lb. for crossbred coarse, greasy crossbred lambs, and greasy merino; by 3d to 3id per lb. for merino scoured and crossbred and fine scoured ; by 2jd to 3d per lb. for fine crossbcd slipe.” The Bank of New Zealand is in receipt of the following advice from London dated December 6: —“The sales closed firm for all kinds of wool. There was an active demand from all branches of tho trade. Quotations for good average condition greasy wools were: Merinos, 60/64’s 17J>d to 18Jd, ordinary 60/64’s 15J,<1 to 16d, inferior 60/64’s 12J>d to 13£<l; halfbreds, 56’s 15£d to 16jd. 50/66’s 13d to 14d ; crossbreds, 50’s 10£d to llld. 48/50’s 9i<l to lid, 46/48’s BJd to 9pl, 44/46’s 7pl to BJ<l, 40/'44’s 7Jd to 7?« l, 36/40’s 7d to 7Ad.” Messrs. Murray Roberts and Company, Limited, are in receipt of the following advice from London:—“The wool sales closed with a good tone; competition was good and general, Bradford and Germany being the principal buyers. Compared with last closing rates, crossbred greasy comeback advanced 10 to 15 per cent.;' lor greasy fine the market is improving; medium advanced 25 per cent., coarse 15 per cent., and scoured and slipe.ls to 20 per cent. Quotations: 60/64’s New Zealand merino, yielding 48 per cent., 14d (14/(1); 56’s, yielding 64 per (ent.. 14/d (14/d); 50’s, yielding 70 per cent., llpl (ll*d); 44/46’s prep., yielding 76 per cent,., Bjd (,7jjd); 44/46’,s carding, yielding 74 per cent., Bjd (7/d); 40/44’s, yielding 75 per cent., 7.Jd (6sr); 36/40's, yielding 76 per cent,., 7d ( —); 46/48’s nixil. prep, and carding, yielding 74 per cent,., B : jd (8/d); 48/50’s prep, ancl carding, yielding 72 per cent., 10(1 (10d).” Prices shown in parentheses arc the opening l'jtes of thy series just closed.