WOOL PRICES DOWN AT LONDON SALES.

Star (Christchurch), Issue 19117, 9 July 1930, Page 1

WOOL PRICES DOWN AT LONDON SALES.

TONE DEPRESSED AND BIDDING CAUTIOUS. (United Press Assn.—By Electric Telegraph—Copyright.) (Received July 9, 10.10 a.m.) LONDON, July 8. At the wool sales 9056 bales were offered, including 2288 bales of New Zealand wool. Approximately 3660 were sold. There was an inferior and miscellaneous selection, largely of secondhand lots. There was a crowded attendance, but the tone was somewhat depressed and biddings were cautious. Prices, compared with May closing rates, were: —Merinos, super, firm, unchanged: good average combings 5 per cent easier: breds, greasy, 7£ per cent; slipes, halfbreds 10 per cent; other sorts 75 per cent; lambs, shorn and carbonising sorts, neglected, 5 per cent to 75 per cent. New Zealand greasy lots sold as follows:—“CET” (top price lOd), average 9:ld. Pyne, Gould, Guinness, Ltd., have received the following cablegram from London dated July 8: “The sales opened to a large attendance, with good support from Continental buyers, but only moderate from the Home trade. As compared with the May series, scoured Merino is 5 per cent lower, greasy Merino 5 per cent to 75 per cent lower, fine crossbred 10 per cetn lower, medium and coarse cross-bred 7i per cent lower, fine bred 10 per cent lower, medium and coarse slipe 5 per cent to 7§ per cent lower."

The Bank of New Zealand has received the following advice from its London office, under date July 8: The sales have opened with moderate competition and a large attendance of buyers. Compared with the close of the last series cross-breds are Id to Id alb lower. No Merinos have yet been offered.

The National Mortgage and Agency Company of New Zealand, Ltd., have received the following cable from their London office:—“The auctions opened here to-day with a large attendance of buyers and keen competition. Compared with the closing rates of the last sales we quote:—Greasy Merino, best *d to Id lower; average £d to Id lower. Half-breds, 50-56 £d to Id lower; 48-50 £d to Id lower; 46-48 £d to Id lower; 44-46 £d to Id lower; 40-44 £d to Id lower; 36-40 £d to Id lower. Scoured Merino 5 per cent lower. Scoured cross-bred 10 per cent lower Slipe and half-bred lambs 10 per cent lower. Medium and coarse slipes 7£ per cent lourer. There was fair competition."