FIRM CLOSING TONE

Poverty Bay Herald, Volume LXIII, Issue 19070, 18 July 1936, Page 6

FIRM CLOSING TONE

LONDON WOOL SALES ! SOME PRICE RECOVERY RUSSIAN COMPETITION (kle.v Tel. (!o]>yriglil Tniled Press Assn.) (Reed. July 18, 2 p.m.) LONDON, July 17. The wool sales concluded with 11,296 bales offered, including 5272 from New Zealand. In all 9884 bales were sold. There was a moderate selection and keen competition, a. good clearance being effected. New Zealand sales included : Slipc half bred lambs, TBS/Oanferhnry, top price J7d, average. lsd. Throughout the series 83,600 bales were offered and 72,000 sold. The home trade bought 42,000 bales and the Continent. 50,000, the quantity held over being 45,000 bales, of Which 37,000 were not offered. The total of New Zealand sales was approximately 35,000 bales, and of Australian 27,000 bales. A few days before the sales commenced a noticeable improvement was recorded throughout the trade. Consequently strong competition, especially home and German, resulted in prices opening at a higher level than had been anticipated. Later, Russian competition so stimulated the market that an upward movement in some cases resulte.d. The selection was fully representative. Greasy merinos, opening at par to 5 per cent, lower, finished 5 per cent up. Short faulty styles are now barely 5 per cent, lower than last series. Good scoureds, favoured by the Russians, are 5 per cent up: short and faulty, almost par; fine crbssbreds sold throughout at a 5 per cent decline; medium and coarse fluctuated, but with the withdrawal of Russian buying, finished at par to 5 per cent above May rates.