WOOL MARKET IMPROVES

Taranaki Daily News, 24 July 1931, Page 7

WOOL MARKET IMPROVES

BUYERS’ GREATER CONFIDENCE.

CLOSING SALE OF THE SERIES.

By Telegraph—Press Assn. —Copyright.

London, July 22.

A more confident feeling and a widened demand prevailed during the closing days of the London wool sales, and Merino combings recovered from their initial drop and closed at the May level. Faulty carbonising sorts were 5 to 74 per cent, lower, finest crossbreds recovered to the May level, medium lower grades were 5 to 10 per cent, below, slipes recovered to 10 per cent, below, and scoureds and lambswool were somewhat neglected, except choicest. 1 ■

A total of 9688 bales was offered today, including 4084 from New Zealand. About 5720 were sold. It was a satisfactory closing sale with the largest! attendance and best sale of the series. New Zealand clips sold as follow: Crossbreds, Rosebank, top price 7£d., average 6Ad„ Pukera 6Jd. s 6fd.

The total sales of the series' were 80,500 bales, of which the home trade took 43,000, the Continent 34,500 and America 3000. Australia catalogued 40,700 bales and sold 32,500, and New Zealand catalogued 40,300 and sold 35,000. Held-over wool totalled 156,000 bales, of -which 124,000 was not offered.