"CLOSED VERY FIRM"

Evening Post, Volume CXXVIII, Issue 23, 27 July 1939, Page 12

"CLOSED VERY FIRM"

WOOL IN LONDON

"PROSPECTS GOOD"

(By Telegraph—Press Association—Copyright.)

(Received July 27, 11.15 a.m.)

LONDON July 26.

Offerings at -the wool sales today were 7473 bales, including 4285 bales New Zealand wool, 6057 bales being sold. A rather poor selection met with a less active demand.

New Zealand greasy crossbred "3 in circle" sold 103 d to lid; scoured crossbred pieces "Kenn:ngton." 113 dto 13id. Throughout the series now closed 98.400 bales were offered and 83,000 were sold, including 43,500 bales of New Zealand wools and i 51,500 bales Australian.

The hold over includes 17.000 bales New Zealand and 21.500 bales Australien wools.

The tendency throughout the series was firm and competition was keen. As compared with rates at the close of the last series, scoured merinos sold at par. medium and coarse crossbreds at 10 to 15 per cent, dearer,' and other wools at a rise of 5 to lh per cent.

The Bank of New Zealand, produce department, has received the following advice from its London office under date July 26:—The wool sales have closed very firm and prospects are good. Current quotations for wools of average condition:— Merino—Super 60/64, 14.^ to 15d per lb; ordinary 60/64, Hid to 12id; inferior, 9d to 10-id, Halfbreds—sß/58. ll|d to 12id; 58, Hid to 12id; 30/SS, Hid to 12|d. Crossbreds—so. Hid to 12i-d; 48/50. lUd to 12id; 46/48, lljd to 12$ d: 44/46, 11-ld to 12M; 40/44, lljd to 12|d; 36/40, Hid to 12£ d. Levin and C 0.,. Ltd., have received the following cable from their London agents, dated July 26:—The auctions closed here today with a good tone. There was good general competition, mainly from the THome trade. The total quantity offered was 98,443 bales; sold 83.000 bales; carried forward 39.000 bales, including 17.000 bales from New Zealand. Compared with the opening rates we quote:—Greasy merino, unchanged;' fine half bred, 50 56's. unchanged; extra fine crossbred. 48/50's. id to 3d per lb lower; fine crossbred, 46/48' , id to fd; medium. 44/46"5, Jd to Jd; coarse crossbred, 40 ' 44's, Id to Id; low crossbred. 36/40's, id to ad. all lower. Scoured merino, no change; halfbred lambs slipes, Id to id per lb lower; clothing slipes, 3d to Id per lb lower. Wright, St^phenson, and Co., Ltd., and Abraham and Williams, Ltd., report haying received , cable advice fromtheir London house regarding the London wool sales reading as follows' — The sales closed before an average attendance of buyers. amongst whom competition was good. Continental and Bradford buyers were the chief operators. The selection of wools was good, ani 98,500 bales were offered for series and 83,000 sold. We quote the following average realisations: —Greasy merino. 60/64. yielding 48 per cent.. lOJd; fine halfbred, 56/58. 62 per cent, Hid; halfbred, 5056. 68 per cent., Hid; three-quarter-bred, 48/50. 74 per cent, ll|d; fine crossbred, 46/48, 75 per cent, Hid; medium crossbred. 44/46, 75 per cent. Hid; crossbred, 40/44, 76 per cent, Hid; coarse crossbred. 36/40, 76 per cent, Hid; crossbred lambs, 46' 50, 74 per cent, lOd. Scoured, Australian, merino, and slipe wools were firm.

The New Zealand Loan and Mercantile Agency Company, Limited, have received the following advice from their London house, dated July 26:— London wool sales," 1939: The fourth series of sales closed firm today; 98.400 bales were, offered, of which a 84,000 bales were sold. Yorkshire were the chief buyers, their purchases totalling 60.000 bales. Prices, as compared with the preceding series, were as follows: — Merino: Lambs par to id per lb higher, super greasy Id per lb, average greasy Id to '{d per lb. inferior greasy Id per lb. Crossbred:' Lambs par to id a lb, fine scoured, fine greasy. Id per lb: medium and course scoured, greasy, Id to Hd per lb: slipe combing, id to 3d per lb, all higher. i Quotations for good average New Zealand greasy fleece wool: 64's, Hid to 12Jd per lb: 60/64's. lid to ll&d; 56/58's; lid to 12id; 56's, lid to 12d; 50's, lid to 12d: 48/50's. lid to 12d; 48's, 103 dto ll^d: 46/48's, 103 dto 113 d; 46's, 10-Jd to Hid: 44/46!5, 103 dto ll£d; 40/44's, 103 d to" Hid: 40's, 103 dto ll£d. Dalgety and Company, Limited, report:—Wool sales closed with good competition. Home trade, principal operators, especially for crossbred. Good support from for greasy merino. As compared with closing rates of last series: Greasy merino, id to Id higher; scoured merino, unchanged; greasy halfbred, Id to id; fine greasy crossbred, fd to Id; medium and coarse greasy crossbred, Id to lid; scoured halfbred, par to Id; scoured crossbred, Jd to Id; slipes combing, id to 3d, all higher; slipes clothing, unchanged: greasy crossbred lambs, unchanged. The following is the range of prices: Merino. 13d, 84d to 12J-d; halfbred. 56/58's, 12d to 13id. lOd to Hid: halfbrpd, 50/56's, 12d to 12Jd, lOd to 11-} d: fine crossbred, 48/50's, 12-ld to 12M, 10id to ll^d; line crossbred, 46/48's. 12|d to 123 d, lOd to lljfd; crossbred. 44/46's, 12d to 12^d, lOd to ll^d; crossbred, 40/44's, lljd to 12d, 9;{d to Hid; coarse crossbred, 36/40's, llfd to 12d. 9Jd to Hid. The 40/44's and 36/40's quotations nominal.

The Bank of New South Wales is in receipt of the following cable message from its London office, dated July 26:—London wool sales close today with a firm lone. Compared with opening greasy merinos slightly dearer, fine crossbreds little change, medium and coarse crossbreds 5 vjer cent, cheaper. Average or estimated prices of New Zealand ere^sv fleece ordinary topmaking wools: Merino, 60-64's. lOAd; halfbred. 56-58's. Hid; fine crossbred. 50----56's, Hid: medium. 48-50's. llld; medium, 46-48!s. Hid: coarse, 44-46's, Hid; coarse, 40-44's, Hid.