WOOL PRICES EASE

Press, Volume C, Issue 29514, 16 May 1961, Page 19

WOOL PRICES EASE

Sydney Sale

(N.Z Press Assn.—Convrtphtl SYDNEY, May 15. Wool values receded at the Sydney wool sales today when the market, compared with last week's Brisbane series, was easily 2J to 5 per cent, lower. The downward trend follows the pattern suggested in Brisbane where there was hesitancy in buying as the series there neared its end. Some observers said today there seemed no likelihood of any immediate improvement in the Sydney market, although the Newcastle and Brisbane sales might “hold.” Better style Merino wools were the least affected today. while comeback and crossbred types generally were unchanged at the lower levels of a fortnight ago. A bigger quantity than in the last two months was passed in today in the main Merino room. Japan was the biggest buyer but not to the same extent as in recent months. The Continent took second place, followed by the United Kingdom. Australian mills were not inclined to operate freely.

Bid Accepted. Toppa Holdings, Ltd.. Melbourne ice cream manufacturer, has received 80 per cent acceptance of its offer to acquire the fully paid ordinary shares of Dairymen and Farmers United Milk Company, Ltd., and has accepted this percentage, N.Z.P.A. Melbourne, May 15.