THE LONDON WOOL SALES

Wanganui Chronicle, Volume 76, Issue 163, 13 July 1933, Page 4

THE LONDON WOOL SALES

THE London wool sales, held on July 10, have been described

as “very satisfactory,” and the description is a fitting one. The tops market is very firm and the prospects for the continuance of the advance in prices is quite promising. It will be remembered that the Chronicle, surveying the situation in regard to wool on May 30, anticipated that “fine wools will continue to lead the way in any upward movement,” and concluded with the following: “It would appear, therefore, that the hardening process, which lias so far been resisted fairly successfully, is making headway. There is, in consequence, good ground for reasonable confidence in the market, but there is no ground for over-sanguine expectations.” The views then expressed have since been justified by subsequent events. The finer wools have led the way, and more would have been absorbed had further supplies been available, but in consequence of comparative lack of supplies the less superior grades were paid attention. The satisfactory aspect of yesterday’s sale is that the catalogues were well cleared, the rates remaining approximately on a level with (hose ruling at the opening sale on July 4. Comparisons with opening rates at this series and those prevailing at the close of the May series are provided by the following cabled quotalions of Messrs. Murray,

Low crossbred, 36/40’s, yielding 75% .. 4A The above quotations, it must bo remembered, are averages over the sales, and do not reflect the hardening tendency, but the clearing of the catalogue does do so. It is not surprising, therefore, to learn that offers arc being advanced locally for 44-46’s at 6d and Old. This, it. is believed, Io be on Japanese account

Roberts and Co. Opening Closing Kates. Kates. July Series. May Series N.Z. Merino, 60/64’s yielding 48% 32 .. 10 Halfbred, 56’s yielding 60% 13} .. 11} Super fine crossbred, 50’s yielding 65% 10$ .. 8} Fine crossbred, 48/50’s mixed prep. & card yielding 70% 9} .. 7} Fino crossbred, 46/48’s mixed prep. & card yielding 72% 7$ .. 6} Medium crossbred, 44/46’s, preparing yielding 74% .. GA .. 5} Medium crossbred, 44/46’s carding yielding 72% .... 6 .. 5} Coarse crossbred' 40/44 ’s, yielding 73% 5} .. 4 A