PRICE OF WOOL DOWN

Wanganui Chronicle, Volume 77, Issue 157, 5 July 1934, Page 9

PRICE OF WOOL DOWN

LONDON SALES OPEN FINE WOOLS FALL MOST ... Received July 4, 5.5 p.m. LONDON, July 3. The July series of wool sales has opened at 15 to 20 per cent, decline on closing rates of the May series. Competition is very slow. Offerings at the wool sales were 11,437 bales, including 4356 New Zealand. About 3’536 were sold. There was a crowded attendance, but no German buyers were present. Bidding was very slow at the start, but improved somewhat later; but buyers were very hesitant. Compared with May closing rates, Merinos, greasy, are Id per cent, lower, Merino scoureds 20 per cent.; crossbreds, fine, 15 per cent., and other woo] 15 to 20 per cent. down. New Zealand greasy halfbred “Te Kgu” sold 12H highest, 11 7-8 d average; greasy crossbred Glen Nevis made Hid. PRIVATE REPORTS A POOR SELECTION Private cablegrams supplementary to the above have been received and arc set out hereunder. The Bank of New Zealand, ■roduce Department, has received the following advice irom its London oliici under Uuto July 3: — “The wg-oI sales have opened with a poor demand. There is unly a poor selection. Compared with the close of last series, Merino is 2d to line crossbreds JAd tv 2d, medium and coarse crossbreds Id to l|d per lb. all lower. ’ ’ No German Buying Murray, Roberts, and Co., Ltd., are in receipt of the following wool market cablegram from their London agents, dated July 3: —“Sales have opened weak. Home buyers principal operators; German buyers not operating. Competition irregular. Greasy Merino declined 15-20 per cent.; scoured Merino declined 20-25 per cent.; inferior descriptions show the greatest decline; crossbred greasy .fine declined 15 per cent.; crossbred greasy coarse to medium declined 2o per cent.; crossbred scoured declined 15 per cent.; slipo line crossbred declined -0 per cent.; slipe, other descriptions, declined 15-20 per cent.” Prices Well Down Levin and Co., Ltd., have received the following cable from their London agents, dated July 3:—“hue auctions opened heie to-day at a decline on the closing rates of last senes. Competition was poor, Germany nvt operating at all. Greasy and scoured Merinos received poor support. As at present arranged, the sales will close on July 13. Compared with the closing rates of last sale, we quvte;—Greasy Mer-

ino, best, 3d to 4d per lb. lower; gieasy Merino, average, 2id tv 3d; lino halfbreds, 50/56’s, 2d to 2sd; extra fine crossureds, 48/50 ’s, line crossbreds, 46/48’s, J id; medium, 4-1/ ■l6’s, Id to lid; coarse, 40/44’s, Jd to lid; low, 36/40's, Id to lid; slipe halfbred lambs, 3d to 3£d; medium and coarse Slipes, lid to 2d; scoured Merinos, fully 6d, all lower.” Bradford Chief Buyers Wright, Stephenson, and Company, Ltd., and Abraham and Williams are in receipt of caoied advice from their London house regarding the wool saies reading as follows: —“ihe wool sales opened before an average attendance of buyers, in an irregular murael Bradford, buyers were the chief operators, while Continental representatives were buying sparingly. American, and German buyers were not opeiatmg. An average selection of wools was oiiered. Competition was restricted and a large amount of wool was withdrawn from sale. We quote the following realisations: Greasy three-quarter-bred, 48/50’s yielding 74 per ccui., 8Q; greasy line crussbrcu, 46/48’s yielding (5 per cent., 6id; greasy medium crossbred, 44-46’s yielding 75 per cent., 6d. Australian Merinos and slipe wool 20 per cent, lower, line, medium and coarse wool 15 per cent, lower.” Competition Weak Dalgety and Co. have been advised: —“bales opened, average attendance, no German buyers. Competition weak aud hesitating. Withdrawals heavy. As compared with closing rates of last senes; Greasy Merino, io per cent, to ! 20 pe r cent. Ic-wer; scoured Merino, ■ -0 per cent, lower; crossbred, 15 per : cent, lower; slipes, 20 per cent, to 25 j per cent, lower; except short and i faulty slipes, 10 per cent, to 15 per i cent., all lower.” Full Attendance The New Zealand Loan and Mercantile Agency Co., Ltd., has received the following advice from their Du-ndon house, uated July 3:—“There was a lull attendance at the opening of the sales to-day, competition by Home and French buyers being rcstucted. ihe opening catalogues were fairly representative. As compared with last sales clc-sing rates prices are lower 2d to per lb. for scoured crossbred, greasy Merino and medium crossbred slipe; prices are lower Id to lid per lb. for medium and coarse greasy crossbicci, and coarse crossbred slipe; prices arc lower 2d to 3d per lb. for socured Merino, lid to 2d per lb. lower for fine greasy crossbred, and 3d to 3sd per lb. lower for fine crossbred iambs slipe.” Continent Not Buying The New Zealand Farmers’ Co-op. Distributing Company’s London office, dated July 3, advises:—“Wool saies opened to-day. No Continental competition. Brices compared with close of last series:—Merinos, greasy 15 per cent., scoured 20 per cent.; crossbreds, greasy fine, 27i per cent.; medium and coarse scoureds, slipes, fine, .15 per cent., 20 per cent.; all down.”