LONDON WOOL SALES

Timaru Herald, Volume CXXXIX, Issue 20057, 14 March 1935, Page 4

LONDON WOOL SALES

BROKERS’ ADVICES The National Mortgage and Agency Co. of New Zealand Ltd., report having received the following cable from their London Office, in reference to the series of wool sales which opened on March 12: —“The auctions opened here to-day at a decline on last sales closing rates. The selection of wool offered was only fair. Good competition at the lower rates confirmed almost entirely to hon:' trade. Continental buyers are not op/rating. Compared with closing rates of last sales we quote: Greasy merino, best, id lower; greasy merino, average, id lower; hglfbreds, 50/56, id to 8d lower; crossbreds, 48/50, id to 3d lower; crossbreds, 46/48, id lower; crossbreds, 44/46, id to id lower; crossbreds, 40/44, id lower; crossbreds, 36/40, id lower; fine slipes, id to 9d lower; medium and coarse slipes, id lower. As at present arranged, the sales will close on March 29.”

Messrs Pyne, Gould, Guinness, Ltd. report having received the following cablegram dated March 12. from their London brokers with reference to the opening of the March series of the London wool sales:-The March series opened here to-day before a large attendance of buyers representative of all sections of the trade. Although valuyes were on a lower level the market was animated and a firm tone was noticeable throughout. Representatives of the Home trflde were the principal purchasers, Continental buyers not operating freely and working to restricted limits. A good selection of all qualities of New Zealand crossbreds was on offer, but merinos and fine half-breds were disappointing. As compared with the closing rates of the January series, we would quote:--Merinos id per lb lower; fine halfbreds (56/58’s), Id per lb lower; half, breds (50/56’s), 3d per lb lower: fine x-breds (46/48’s), id to id per lb. lower; coarse x-breds (40/44’s), id per lb. lower. The New Zealand Loan and Mercantile Agency Company Ltd. have received the following cable from their London house, dated March 12:— “There was a good attendance at the opening of the sales to-day, competition by Home buyers being fairly active. The opening catalogues were not representative. As compared with last sales closing rates prices are lower id per lb. for crossbred slipe, medium greasy crossbred and greasy merino lower id to Id for fine crossbred; lower Id to lid per lb for scoured merino.” Dalgety and Co., Ltd., Timaru, have received the following advice from their London office, dated March 12, — “Wool sales opened with fair selection of crossbred, but merino poorly represented. Competition somewhat iri regular. Home trade principal operators, Continent buying sparingly. As compared with closing rates of last series, merino par to id lower; crossbred. fine Id to Id lower, medium Id to Sd lower, coarse par to Id lower, scoured par to Id lower; slipes id to Id lower.”