THE WOOL MARKET

Dominion, Volume 28, Issue 96, 17 January 1935, Page 12

THE WOOL MARKET

London Sales Open VALUES MOVE UPWARD By Telegraph. Press Assn.—Copyright ' London, January 15. The London January-February series of wool sales has opened with brisk, bidding and an advance of 5 to 7$ per cent, on prices ruling at close of the last London sales. The day’s offering was 8526 bales, including 3455 bales New Zealand. Approximately 7464 bales were sold. There was a fairly good selection of wools submitted to a large attendance of buyers, including some Germans. Animated home and Continental competition was displayed. Compared with December closing rates greasy merinos were generally 5 per cent, dearer, and scoureds also 5 per cent, dearer. Greasy fine crossbreds were 5 per cent. up. and occasionally 10 per cent, dearer. Medium and coarse crossbreds were 5 per cent, up ; slipes sold at par to 5 per cent, better; greasy crossbreds were practically unaltered. New Zealand greasy crossbred, "JMN over Papa.” sold 10}d. per lb. highest, and 10 l-Bd. average; balfbred lamb slipe, "Belfast.” made 13$d. LOCAL ADVICES An Active Demand The following cabled reports were received yesterday by Wellington houses:—• Bank of New Zealand, produce department : —The sales have opened with strong competition and a large attendance of buyers. There is an active demand by all branches of the trade. Compared with the close of last series, merino is sd., fine crossbred sd. to Id., medium and coarse sd. to sd. per lb. higher. Bank of Australasia, from Balme and Thomae, woolbrokers: London colonial wool sales—Merinos 5 per cent, dearer, fine crossbreds 10 per cent, dearer, medium crossbreds, coarse crossbreds 5 per cent, dearer, slipes par to 5 per cent, dearer above last series closing rates. Bank of New South Wales, Produce Department: London wool sales compared with last sales close, merino greasy five per cent, spinners’ sort 7$ per cent, scoured unchanged, fine crossbred (s.) 7$ per cent., medium and coarse par to 5 per cent, dearer. Slipe sellers favour good competition. N.Z. Farmers’ Co-op. Distributing Co., Ltd.: —Wool sales opened to-drfy, and prices, compared with close of last series, good attendance and competition, merinos, greasy, 5 per cent., crossbreds, greasy fine, 10 per cent.; medium and coarse 5 per cent., slipes, par to 5 per cent., all up; scoureds unchanged. Levin and Co., Ltd.:—The auctions opened here to-day with a large attendance of buyers. Keen competition; all sections of the trade are buying freely, particularly Bradford. Good support from, Germany, particularly of al] descriptions of greasy crossbreds. The selection of wool offered was very good, and was practically all sold. A s at present arranged, the sales will close on February 6. Compared with the closing rates of last sales, we quote:— Greasy merino, best, sd. per lb. higher. Greasy merino, average, sd. per lb. higher. Fine halfbreds, 50/56's, sd. to }d. per lb. higher. Extra fine crossbreds, 48/50’s, sd. per lb. higher. Fine crossbreds, 46/48’s, sd. per lb. higher. . Medium crossbreds, 44/46’s, }d. to Id. per lb. higher. Coarse ■ crossbreds, 40/44’s, -}d. to sd. per lb. higher. Low crossbreds, 36/40’s, Id. to id. per lb. higher. Scoured merino, no change. Scoured crossbreds, no change. Slipe wools generally. -Jd. to id. per lb. higher. , ■ • The following prices are current:—

The New Zealand Loan and Mercantile Agency Co., Ltd.: —There was a good attendance at the opening of the sales today. competition by Home and-Continen-tal buyers being keen, and prices as compared with the close of preceding series ruled in sellers’ favour for scoured merino and scoured crossbred ; prices are higher Id. per lb. for crossbred slipe, medium and coarse greasy crossbred and greasy merino; prices are higher id, to Id. per lb. for flue greasy crossbred. Tbe opening catalogues were representative. , Murray, Roberts and Co., Ltd.:—Sales have opened with a good tone, competition good: Bradford buyers principal operators: French and German buyers operating moderately. Compared with last London sales' closing rates: Greasy merino, best descriptions advanced 5 per cent.; greasy merino. other descriptions, par to 5 per cent. advance. Scoured merino market shows no change. Crossbred greasy., medium to fine, best descriptions advanced 5-74 per cent.; other descriptions par 'to 5 per cent, advance. Crossbred scoured market shows no change. Slipe crossbred par to 5 per cent, advance. Dalgety and Company, Ltd.: —The January sales opened; large attendance of buyers, with active and animated competition ; good selection. Home trade the principal operators. Fair demand from the Continent, Germany buying sparingly. As compared with closing rates of last series (November-December) :— Greasy merino. Jd. to jd. higher. Scoured merino, unchanged. Greasy halfbred. 4d. to Jd. higher. Greasy fine crossbred. 4d. to Id. higher. Greatest advance on good crossbreds. Greasy, medium and eoarse cfbssbred. Id. to id. higher. Scoured crossbreds, unchanged Slipes. ,|d. to id. higher. Wright, Stephenson and Co., Ltd., and Abraham and Williams, Ltd.: —The wool sales opened before a larger attendance of buyers than usual. The market continued active, and competition was animated. Continental and Bradford buyers were the chief operators. A good selection of wool was offered We quote the following average realisations:—Greasy halfbred. 50/56. yielding 68 per cent.. DJd.: greasy threequart erbred. 48/50's. yielding 74 per cent.. 71d.: greasy fine crossbred. 46/48. yielding 75 per cent.. 6}d.: greasy medium crossbred. 44/46. yielding 75 per cent.. s’d Prices lor scoured wools were par with closing rates for. last scries, while Australian merinos were par to 5 per cent, higher. Slipe wools were in sellers’ favour. Wanganui Wool Sale In yesterday’s "Dominion'’ it was stated in connection with the wool sale at Wanganui to-day that the offering on behalf of Murray. Roberts, and Johnston and Co., was 53 bales. The correct number was 2253 bales.

Merino— d. d. Super ...11 to 12 Average ... to 10i Fine halfbred — Super, 5G/58’s ... 11 to 12 Average ...10 to 11 Medium halfbred — Super, 56/58’s ... 10 to 11 Average ... 8 . to 9 Extra fine crossbred — Super, 48/50’s .•. "1 to 7 fAverage ... OS- to 74 Fine crossbred —■ Super, 46/48’s GJ to 7 Average ... G to tn Medium crossbred — Super, 44/46's .. G to GJ Average ... .55 to 04 Coarse crossbred — Super, 40/44’s ... 5? to Average ... 54 to 01 Dow crossbred — Super, 36/40’s ... 51 to G Average ... 54 to 51