SALES OF WOOL

Timaru Herald, Volume CXLV, Issue 21088, 14 July 1938, Page 7

SALES OF WOOL

STEADY MARKET IN LONDON United press Association—By Electric Telegraph—Copyright LONDON, July 12. At the wool sales, 8791 bales were offered, including 5999 New Zealand and 7234 bales were sold. There was a moderate selection, chiefly New Zealand crossbreds. Competition was active, apart from slipes, which were frequently withdrawn, owing to low bids. Merinos were from par to 5 per cent., crossbreds and fines par; mediums, coarse and slipes 5 to It per cent, lower than thi closing prices of the last series. The Home trade was the principal buyer. New Zealand: Scoured crossbred. “Ngwma,” top 134 d, average 9d; slipe, halfbred lambs, Canterbury, Hid to 121 d.

BROKERS’ REPORTS The National Mortgage and Agency Company of New Zealand Limited report having received the following cable message in connection with the series of sales which opened in London on July 12. The auctions opened with a large attendance of buyers, strong competition all round. Compared with the closing rates of the last sale we quote: Greasy merino, best, no change; average, no change. Halfbred, 50/56, no change. Crossbred, 48/50, Id lower, 46/48, Id lower, 44/46 Id lower, 40/44 Id lower, 36/40 Id lower. Slipe wool, generally the demand is good, par to 5 per cent, lower. As at present arranged sales will close on July 22. Pyne, Gould, Guinness, Ltd., Timaru, report having received the following cable message from London with reference to the opening of the July series of the London wool sales:— There was a large attendance of buyers. The market was animated, and competition good. Home trade were principal buyers with the Continent also operating. Poor selection of New Zealand wools. The closing rates as compared with May series were: —Merino, 56/58, 50/56, all firm; 46/48 Id to i-d lower; 40/44 id lower.