ALL PRICES LOWER AT LONDON SALES.

Star (Christchurch), Issue 19237, 26 November 1930, Page 6

ALL PRICES LOWER AT LONDON SALES.

GOOD COMPETITION FOR WOOL IN BRITAIN. (United Press Assn.-—By Electric Telegraph—Copyright.) (Received November 26, 11.30 a.m.) LONDON, November 25. At the wool sales 10,544 bales were offered, including 2681 bales of New Zealand wool and approximately 8420 bales were sold. There was a miscellaneous and inferior selection. There was a crowded attendance and keen general bidding at a lower level. Fine Merinos were steady at October closing rates. Inferior faulties declined 5 to 7i per cent. Of crossbreds only medium and lower grades were offered at a decline of 15 per cent. Slipes were neglected. New Zealand crossbred wool as follows:—Hokoroa (71d top price) 7d average; Panikau (6|d) 6*d. The New Zealand Farmers’ Co-opera-tive Association have received the following cable from their London office: —“The London wool sales opened toda3>- and prices, compared with the last series, are as follows:—Merino, Id cheaper: all cross-breds and slipes, Id to lid cheaper.” The Bank of New Zealand has received the following advice from its London office under date November 25: —“ The sales have opened with moderate competition and a large attendance of buyers. Compared with the close of the last series, greasy crossbred is lid to lid lower and greasy Merino Id to Id per lb lower.” P3*ne, Gould Guinness, Ltd., have received the following cablegram from London dated November 25: “The sales opened to a large attendance with good competition, mostly Continental. As compared with the September series, Merino scoured and greasy Id lower, crossbred greasy lid lower, slipe Id lower. The withdrawals were small.” The following is a copy of a cable received by Dalgety and Company, Ltd., Christchurch, from their London office, dated November 25: “The London wool sales opened with good competition. There was a large attendance and a good average selection. Continental buyers were the principal operators. Home trade competition was fairly; active. As compared with closing rates of last series; prices were: Super Merino, par to 5 per cent lower; average to good Merino, 5 per cent lower; inferior and faulty 7* per cent to 10 per cent lower; fine crossbred, 10 j per cent to 15 per cent lower; medium j and coarse crossbred, 15 per cent lower; slipe, 10 per cent to 15 per cent lower; lambs, 10 per cent lower.”