LONDON WOOL SALES.

Star (Christchurch), Volume LXVI, Issue 20295, 3 May 1934, Page 16

LONDON WOOL SALES.

Reports Received by City Firms. The following cable reports on the London wool sales have been received by Christchurch brokers:— N.Z. Loan and Mercantile Agency Co., Ltd.—There was a good attendance at the opening of the sales to-day, competition by Home and French buyers being fairly active. As compared with last sales closing rates prices are: Lower par to Sd per lb for merino; lower Sd to Id per lb for cross-bred. The opening catalogues were fairly representative. Dal get y and Company, Ltd.—The wool sales opened with a large attendance. The selection was mostly cross-breds. Competition was irregular and hesitating. There was a good demand for skirtings. As compared with closing rates of last series, merino was par to id lower; fine cross-bred, id to 3d lower; medium and coarse cross-breds, id to Id lower; fine slipes, id to 3d lower; medium and coarse slipes, id to Id lower. No German buying, but possibility of some next week. Pyne, Gould, Guinness, Ltd.—The competition was general, but the market was irregular, the principal buyers being the home trade, with the Continent also operating. There was a good slection of cross-breds, but other sorts were disappointing. Comparing prices with the closing rates for March series, we quote the following for greasy wools:—Half-breds 50-56, id to Id cheaper; three-quarter-breds 46-4 S, id to Id cheaper; cross-breds 40-44 and lower. Id cheaper. Of merino and fine half-breds (56-58) there was no representative offering. National Mortgage and Agency Co. of N.Z., Ltd.—The auctions opened here to-day with an average attendance of buyers. There was good competition, excepting from Germany. The selection of wool offered was only fair, particularly the greasy cross-breds. Compared with the closing rates of last sale, we quote: Greasy merinoes. id cheaper; all grades of cross-breds and half-breds, Ad to Id cheaper; half-bred lamb slipes, id cheaper; scoured merinoes, from about part to 5 per cent lower. A. H. Turnbull and Co.—Messrs W. Weddel and Co., Ltd., advise: Merinoes par to 5 per cent decline; cross-breds 10 per cent decline; slipes 5 per cent to 7i per cent decline. Poor selection. N.Z. Farmers’ Co-operative Association—The London wool sales opened today and prices as compared with the close of the last series are as follows: Merinoes par to 5 per cent lower; greasy fine cross-breds 5 per cent lower; medium cross-breds 5 to 7i per cent lower; greasy coarse cross-breds 10 per cent lower; scoureds and slipes 5 per cent lower. There was a good attendance of buyers and good competition. The quantity available for the series is 76,000 bales. Bank of New Zealand—The sales have opened with a poor selection arid a moderate demand only. Compared with t lie close of last series merino and fine cross-breds are id to Id per lb lower, and medium and coarse cross-breds | about 3d per lb lower.