THE WOOL MARKET.

Wairarapa Daily Times, 24 May 1928, Page 5

THE WOOL MARKET.

LONDON SALES. PRICES FIRM AT CLOSE. (LONDON, Tuesday. The Loudon wool sales have closed on a slightly higher basis than at the opening. There were catalogued 100,544 bales, and it is estimated that there were sold to the Home trade 17,000; to the 'Continent about 49,500, to America 1000, and there is held over 33,000. Competition was keen and general throughout the sale. Continental buyers bought largely of and Punta Arenas wools. The Home trade was active in crossbreds and slipes. Thanks to strong competition, German, Swiss and Alsatian spinners’ prices for fine Merinos were well. maintained. The broader sorts, suitable for top-making, were also very firm. Faulty carbonising sorts hardened as the sales progressed, except, for scoureds, which are still about 5 per cent below March rates. Crossbreds of the finest descriptions partly recovered on their opening rates. Medium and lower grades have been in sellers’ favour. Slipes did not maintain their abnormal March rates, and are generally Id to lid cheaper. Medium crossbreds, lower grades, were in strong demand, but prices were unchanged. Lambs’ wool and Merinos were irregular. Choice parcels were firm; others were generally at par to 5 per cent below March rates. Crossbreds were firm, but unchanged. New Zealand sales: X/M, 17d; H.R.T.T., 17d.—Australian and N.Z. Press Assn.