SALES OF WOOL

Timaru Herald, Volume CXXXIX, Issue 20058, 15 March 1935, Page 11

SALES OF WOOL

REPORTS ON LONDON MARKET United Press Association—By Electric Telegraph—Copyright LONDON, March 13. At the wool sales 8012 bales were offered, including 3416 from New Zealand and 4384 from Australia. Approximately 6625 New Zealand and Australian bales were sold. There was a good clearance to Home and Continental account, the opening levels being maintained. New Zealand sales: Greasy crossbred, The Cliffs, top price 102 d, average 7 7-Bd. Messrs Dawson’s report on the opening of the London wool sales says that the Yorkshire trade is generally sensitive. Ultra nervous conditions prevail in most commodity and financial circles. The cotton slump does not improve the wool chances of Japanese reduced operations. Nevertheless strong and hopeful factors may be effective in the near future. The pressing need is greater outside support. It is hoped that Russia will return to the market at an early date.

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 irregular. 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 Id lower, coarse par to id lower, scoured par to id lower; slipes id to Id lower.”