LONDON WOOL SALES.

Wairarapa Age, 12 March 1925, Page 7

LONDON WOOL SALES.

BETTER TONE THAN EXPECTED.

(Received 7.45 p.m)

LONDON, Mar. 10.—At the wool sales there was a fair -selection of merino suitable for the Continent, and medium and lower grade crossbreds. There was a crowded attendance in all sections. The tone was-better than was anticipated and the withdrawals considerably less than was expected. Merinos j are 10 to 15 per cent below February closing rates; crossbreds 5 to 7} per cent below. New Zealand: M.P. 25d, 23d.— (A. aid N.Z.) Brokers’ Reports. Dalgety and Co., Ltd., Mar. 10: ■ “Wool sales opened. Attendance of buyers is very large. Selection good. Fair demand for merinos of good quality; other descriptions merino irregular. Good demand for xbd. at lower levels.. As compared with last sale’s closing rates merino wools 3d to 4d lower, J-bd 3d to 4d lower, fine xbd 2d to 3d lower, medium xbd 2d to , 2Jd lower, coarse xbd Id to lid lower. , Wairarapa Farmers’ Co-op. Association, Ltd., Mar. 10.—Wool sales open- : ed to-day and were well attended by Home, American, and Continental buyers. Fine xbd declined 10 per cent., medium and coarse xbd' deelin- ■ ed 5 per cent, to 7J per cent, compared with closing rates of previous sale. Levin and Co., Ltd., Mar. 10. —The auctions opened here to-day with a large attendance of buyers. As compared with the closing rates of the last sales, wo quote:—Greasy merino, best, 4d lower; greasy merino average 4d lower; fine 1-bd, 50-56’s 3d lower; l-bil 48-50’s, 2d lower; fine xbd 4648’s, lid lower; medium xbd, 44-46’s Ijd lower; coarse 40-44's lid lower; low xbd, 36-40’s, lid lower. The following prices are current for average farmers’ lots:—Greasy merinos, 27d to 31d; scoured merinos, 4/8; greasy superJ-bd, 56’s, 26d to 30d; fine j-bd. 50-56’s, 26d to 39d; fine xbd, 46-48’s, 22d to 25d; medium xbd, 44-46’s, 21d to 24d; coarse xbd, 40/44’s 20d to 23d; low xbd, 36-40’s, 19d to 22d; xbd pieces, 17d to 19d; bellies, 17d to 18d; locks, lOd to 12d. Fine xbd and sUpe wools generally not represented. The N.Z. Loan and Mercantile Agency Co., Ltd., Mar. 10.—Prices as compared with the close of preceding series ruled about 7J per cent lower for medium xbd; about 5 per cent, lower for coarse xbd, and about 10’ per cent, to 15 per cent, lower for merino. Competition by both Home and foreign buyers is fairly active for xbd; fair French demand for merino. The opening catalogues were fairly representative. Murray, Roberts and Co., Mar. 10.— Good selection with t'he exception of slipe wool and coarse xbd. Merino declined 10 to 15 per cent; faulty and inferior descriptions show the greatest decline; fine xbd declined 71 per cent, medium declined 5 per cent, coarse xbd shows no material change. I A BITTER STRUGGLE. REACTION PROBABLE. (Received 5.5 p.m.) LONDON, Mar. 11.—Mr H. Daw son’s report on the opening of the : wool sale comments on the fiery etrug- ■ gle between consumer and seller. The report says: “Seldom hae there I been such a determined resistance to ‘ high prices. The margin between the values of raw material and Hie manu- - factored products has long been too j wide and disproportionate. Consum- ' ers are unwilling to continue to oper- ■ ate under such unremunerative conditions. The world calls for cheaper qualities or lesser quantities. “Unfortunately, the effect of restriction of offerings in Australia has passed on to the manufactuing end, with disastrous results to the winter trade. It has long been obvious that the decline in prises was overdue. Ithad to come. At present, the danger is that many have gone too far and reaction is probable. It is unlikely that the decline wiH bo fully recoverable. One hopes that the Australian efforts in that direction may cheek a further shrinkage.”—(A. and N.Z.)