COMMERCIAL

Evening Post, Volume CXV, Issue 34, 10 February 1933, Page 3

COMMERCIAL

LONDON WOOL SALES

MARKETS NOT IN TUNE

. (Received 10th February, 11 a.m.) LONDON, 9th February. Dawson and Company, commenting on the wool sales, says there is a considerable divergence in values and tone between London and some of the ultimate! markets; therefore it is impossible to diagnose the actual position. While London revealed a surprisingly strong and steady demand for finer grades, the consuming centres, especially Eoubaix and Bradford are gripped with lack of confidence. This is especially depressing and perplexing in.view of the supply position. Spinners are finding that renewal of price-cutting is disintegrating their market. ■ ' This dominates the situation, despite the general belief that wool is too cheap. The season is too far advanced for any serious decline.

(Received • 10th February, 12.5 p.m.) . LONDON, Oth February. The Bradford market is quiet, and users are cautious. Latest and previous top quo19th ' 26th v 9th Jan. Jan. Feb. Per lb. Per lb. Per lb. d. d. d. Sevenths '.. 24% 2iVz 24 Sixty-four's 23% 23 22% Sixty's 21% 21% 21% Fifty-six's 18% 18% 18% Fifty's 12% 12% 12% Forty-six's 9% 9% 9% Forty's ,9 9 9' LONDON, Bth February. At the London wool sales the concluding offering was 7764 bales, including 1947 New Zealand; about 3791 were sold. The series closed steady. As the bulk of requirements had been previously filled, the demand was somewhat quieter. The total catalogued for the sales -was 133,463 bales, .of which 63,750 were sold to Home buyers, 56,350 -were sold to the Continent, and 43,000 bales were held.'Australian wool sold totalled 66,500 bales, New Zealand 44,000 bales..

Compared with December closing rates Merino greasy were generally 5 per cent, dearer, fine 7% per cent, dearer. Scoured: Fine were fully 5 per cent, dearer, coarse were unchanged. Crossbreds: Fine were 5 per cent, dearer. Medium and coarse weakened recently, and the closing rates were barely equal to. those of December. Slipes were unchanged. Greasy Crossbred.—Waipura brought 8d highest, 6 5-8 d average. Scoured Merino.—Fernlee, 16% d highest, 16d average.

The Bank of New South Wales is advised under date Bth February: "London wool sales closed unchanged at last week's figures; competition good." _ Messrs. Murray, Roberts, and Co., Ltd., have received the following wool market cablegram, from their London agents, dated'Bth February :—"Sales have closed firm, competition keen. Bradford and German buyers were the. principal operators. Compared with last London sale's closing rates, greasy merino, best descriptions, advanced 5 per cent.; greasy merino, other descriptions, par to 5 per cent, advance; scoured merino, par to 5 per cent, advance; lambs, merino, greasy, advanced 5 per cent. The crossbred greasy comeback and halfbred market is firm; crossbred greasy fine advanced 5 per cent.; in crossbred greasy medium the market shows no change; crossbred greasy coarse declined a .shade; crossbred scoured advanced a shade; slipe fine crossbred advanced a shade; slipe medium crossbred, par to 5 per cent, advance; slipe, coarse crossbred, par to 5 per cent, decline. Quotations:— ' Closing Closing rates rates Jan.-Feb. Nov.-Dec. Series. Series. , ■ d. d. NiZ. merino, 60/64's,' yielding 48 per cent None 9 Halfbred, 56's, yielding CO . per cent. .• 11 10% Supernne Crossbred, DO's; yielding 65 per cent SVz 7% Fine crossbred, 48/50's, mixed prep; and card., yielding 70 per cent ,7% 5"% Fine crossbred, ,46/48's, mixed prep, and card., yielding 72 per cent 5% 5% "' Med. crossbred, 44/46's preparing yielding 74 per cent. 5% 514 Jledium crossbred 44/46's, carding, yielding .72 per cent. . 5U 5 Coarse crossbred, 40/44's, yielding 73 per cent. .... AVz i% Low crossbred, 36/40's, yielding -75 per cent '.. 4»,4 None Messrs. Wright, Stephenson, and Co., Ltd., and Abraham and Williams, Ltd., have received cabled advice from their London house regarding the London-wool sales reading as follows:—"Wool sales closed' with an average attendance of buyers. ' The market continues active, competition animated, Continental and Bradford buyers being the chief operators. American buyers were not operating. At the series 133,400 bales were offered, o£ which 120,000 bales were sold." They' quote: Greasy fine halfbred 56/58s yielding^ 65 per cent., ll%d; greasy halfbred 50/56's, yielding 67 per cent., 9%d; rgjjasy three-quarter-bred 48/50's, yielding 73 per, cent., 7d; greasy fine crossbred 46/48, yielding 74 per cent., 6d; greasy medium crossbred, 44/46, yielding 75 per cent., Sd; greasy crossbred 40/44, yielding 76 per cent.,' 4%d; greasy. coarse crossbred 36/40, yielding 77 per cent., 4%d; Australian merino prices, 2% per cent, lower.. '