COMMERCIAL

Poverty Bay Herald, Volume LXVI, Issue 19887, 15 March 1939, Page 6

COMMERCIAL

LONDON WOOL SALES BROKERS’ REPORTS The Gisborne Sheep farmers' Frozen Meat and Mercantile Company, Ltd., have received cable advice from London that the March series of wool sales opened yesterday to a good attendance of buyers, and the offering met with good competition. Prices all round were on a par with the closing rates of last series, with good to super greasy Merinos and greasy crossbreds from par to 5 per cent higher. The total quantity available as 116,500 bales. Messrs. Dalgety and Company, Lid., have received l the following cable message from London dated March 14: "The London wool sales opened with a large attendance, competition being brisk and general. There was a poor selection of Merino and a fair offering of crossbred. As compared with the closing rates of last series the change, if any, Is an favour of sellers.”

The New Zealand Loan and Mercantile Agency Compay, Limited, have received the following cable message from London dated March 14: “The second series of wool sales opened to-day. There was keen general competition, Yorkshire being the chief buyers. Greasy crossbred wool is in ydjE'ra’ favour; /crossbred' iambs’ sllpe, about par; and Merino, Id per ,b. higher. The market is very firm."

DUNEDIN WOOL SALE T< (-MORROW’S PROSPECTS A total of 27,287 bales wih be offered at the third wool sale of the season in Dunedin on Thursday, making the total offerings in Otago to date this year 78,(345 bales. After this sale there will remain about 20,000 bales to be disposed of at the April auction. Prospects for the sale are much the same as those that have preceded the two previous auctions this year. Growers who have yet to dispose of their clips can console themselves with the fact that values are already too low to permit of any material drop. Quantities still available for buyers who 'have not yet filled their requirements are very limited and recent sales in other centres, notably Invercargill, have furnished evidence of a healthy inquiry. Judging by the diversity of buying interests represented in Dunedin stores during the past few days, there should be good buying strength when the sale opens. Good crossbreds and certain descriptions of line wools are expected to sell: well and. despite the less attractive appearance of the Otago clip this year, the firm rates reported; from Timaru and Invercargill should I 'at least be maintained.