WOOL IN LONDON

Wanganui Chronicle, Volume 80, Issue 110, 12 May 1938, Page 11

WOOL IN LONDON

MA)' SALES OPEN PRICES UNCHANGED Received May 11. 5.5 p.m. LONDON, May 10. Offsrings at the wool sales were 9069 bales, including 4171 New Zealand, and 7082 bales were sold. A moderate selection was submitted and it met with keen general demand. The demand was chiefly for good wools. Slipes and inferiors were frequently withdrawn. Slipes sold at from pari to 5 per cent, lower, but other wools I were unchanged from the closing prices of the last series of sales. New Zealand greasy crossbred 1 “Meonstoke” averaged lOd, top price lid; “HLT,” 8d; highest 92d. Prices are unchanged. PRIVATE ADVICES MERINOS DEARER The Bank of New Zealand, Produce Department, has received the following advice from its London office, under date May 10:—The sales have opened with strong competition and large attendance of buyers. There !s a good demand from the Continent and the Home trade. Compared with the close of last series, Merinos are par to a farthing higher. Prices for crossbreds generally arc unchanged. Brad font Ix?twls Murray, Roberts and Co., Ltd., are in receipt of the following wool market cablegram from their London agents, dated May 10:—Sales have opened with a good tone; competition keen. Bradford buyers are principal operators; Continental buyers operatj ing freely. Compared with last Londo.i sales closing rates, greasy Merino (poor selection offered) market shows I a hardening tendency; scoured Merino l market shows no change; crossbred greasy market irregular; shows no [material change; crossbred scoured par I to 5 per cent, decline; slipe crossbred par to 5 per cent, decline. Average Prices The Bank of New South Wales is in receipt of the following cable message from its London office, dated May 10:—London wool sales. Good and general competition. Compared with last sales’ close, Merinos and crossbreds unchanged; slipe occasionally in buyers’ favour. Average or estimated prices of New Zealand greasy fleece ordinary top-making wools are as follow:—Merino, 60/64, 12d; fine halfbred, 56/58, 12ld; halfbred, 50/56, 12d; Lhree-quarterbred, 48/50, 10id; fine crossbred, 46 '4B, 9*:d; medium crossbred, 44/46, 9id; crossbred, 40/44, 9id. An Average Selection Wright, Stephenson and Co., Ltd., and Abraham and Williams, Ltd., report having received cable advice from their London house regarding the London wool sales, reading as follows:- The sales opened before an 'average attendance of buyers amongst whom competition was animated. Continental and Bradford buyers were the chief operators. An averageselection of wools was offered. We quote the following average realisations:—Greasy Merino, 60/64, yielding 48 per cent.. 12d; greasy fine haif-i breck 56/58, 62 per cent., 121 d; greasy halfbred, 50/56, 68 per cent.. 12d; greasy tbree-quarterbred, 48/50, 74 per cent., lOid; greasy fine crossbred. 46/48, 75 per cent., 9kl; greasy I medium crossbred, 44/46, 75 per ; ent.. :9id; greasy crossbred, 4u/44. 76 per' [cent., 9hl; greasy (oars? crossbred; 136/40, 76 per cent., 9id; greasy cross- [ bred lambs. 46/50, 74 per cent., lid; [greasy halfbred lambs, 56, very little offering. Compared with the closing [prices of the last series the market | was unchanged. Sliped prices were ■from par to 5 per cent, lower. Eor [ Australian Merinos the market was •firm, with prices unchanged. Scoured Merino and crossbred wool also remain unchanged. Animated Competition Dalgety and Company, London. ieiport wool sales opened; competition , fairly animated, selection fair. Home [trade principal operators. Continental [buyers quiet. As compared with dosling rates of last series, greasy [Merino, scoured Merino, and greasy 1 halfbreds, unchanged. Scoured halfbreds irregular, change if any in favour of buyers. Greasy crossbred unichanged. Scoured crossbred irregular, I change if any in favour of buyers. [Slipes combing unchanged. Slipes ‘other descriptions par to rather •lower. Super Merino Demand The New Zealand Loan and Mercantile Agency Company, Limited, has received the following advice from its London house, dated May 10: London wool sales: The third series .opened to-day. There was a good attendance, and the opening catalogues were fairly representative. Comptl- [ lion by Home and Continental buyers was active and prices, as compared with the close of preceding series,

ruled about, the same with the exception of superior greasy which was par to 5 per cent, higher. Slijws Favour Buyers Levin and Co., Ltd., have receive the following cable from their Lot don agents, dated May 10;—The air tions opened here to-day with average attendance of buyers and fair competition. Compared with the closing rates of last sales we quote: The market is unchanged generally, although slipe wools generally inclined to be in favour of buyers. Aw at present arranged, the sales will close on May 20.