LONDON WOOL SALES

Star (Christchurch), Volume LXVI, Issue 20221, 3 February 1934, Page 1

LONDON WOOL SALES

Prices Show Rise Over Last Closing Rates. AUCTIONS TERMINATED. United Press Assn.—By Electric Telegraph—Copyright. (Received February 3, 11.25 a.m.) LONDON, February 2. At the wool sales 5305 bales were offered, including 2593 bales of New Zealand wool, and 4052 bales were sold. There was fairly good home and Continental competition, and a steady tone. New Zealand lots sold as follows : Greasy cross-bred—Paroa (top price ISd), average 9£d. Half-bred lamb slipc—Eclipse (19d), 18Sd. The total catalogued was 123,842 bales, and the following quantities were sold: Bales. Home 53.200 Continental 55,800 Held over 15,000 The total of Australian wool sold was 61,000 bales, and of New Zealand wool 42,000 bales. The sales closed steady at recent levels. Quotations were dearer compared with December closing rates. Quotations are as follows: Merinos—Greasy super 10 per cent dearer. Other fleece wools 75 per cent dearer. Pieces 15 per cent dearer. Scoureds 10 to 15 per cent dearer. Cross-breds—Fine 15 per cent dearer, medium 75 per cent dearer, coarse 5 per cent dearer. Slipes 15 to 20 per cent dearer. Pyne, Gould, Guinness, Ltd., report having received the following cable from their London wool brokers, dated February 2, 1934: The sales closed to-day. The approximate New Zealand offering during the series was 50.000 bales, and theie was a good clearance of these wools. Throughout the series, all sections of the trade were operating freely, especially German interests, but towards tde close competition became rather slacker. There was a good selection of all New Zealand wools except merinos and fine half-breds.

Coitipared with the closing rates of the November series, we would quote: Half-bred (50-56’s), 2} to 3d higher; three-quarter-bred (48-50’s), Id higher; cross-bred (40-44’s), £d to Id higher. As a range of current market rates, we can quote:—Fine half-bred (SG--58’s), super 23d, average 20d; half-bred (50-56’s), super 205 d, average 18d; three-quarter-bred (48-50’s). super lid, average Had; fine cross-bred (46-48’s*, super lid, average 95d; medium crossbred (44-46’s), super lOd, average Sid: coarse cross-bred (40-44’s and lower), super 9}d; average ' 7’]d; scoured merinos, super 37d, average old: scoured half-breds (50-58’s), super 325 d, average 27d; medium length freezing works sliped half-breds (50-58’s), average 19d; medium length freezing works sliped cross-breds (44-48’s), average 14d.

The New Zealand Farmers’ Co-opera-tive Association of Canterbury, Ltd., received the following cable from their London office this morning:—

“ The London wool sales closed today, and prices, as compared with the close of the last series, are as follows: Greasy merinos, good to super, 75 per cent to 10 per cent higher; greasy merinos, low to medium, 10 per ce’nt to 15 per cent higher; scoured merinos, good to super, 10 per cent higher; scoured merinos, low to medium, 10 per cent to 15 per cent higher; greasy fine crossbreds, 15 per cent to 20 per cent higher; greasy medium and coarse cross-breds and scoured medium and coarse crossbreds, 20 per cent to 25 per cent higher; medium and coarse slipes, 10 per cent to 20 per cent higher.”