RISE IN WOOL UP TO 20 PER CENT

Gisborne Herald, Volume LXVI, Issue 19987, 12 July 1939, Page 4

RISE IN WOOL

UP TO 20 PER CENT

CROSSBREDS PARTICIPATE LONDON SALES OPEN STRUNG COMPETITION London messages to-day indicate a rise in wool values in the fourth series of sales, which opened yesterday. The greatest increase in values is in medium and coarse crossbreds, in which the Gisborne district has the main interest, and these classes have improved by 10 to 20 per cent. Messrs- .Dalgety and Company, Limited, have received the following rubied advice from London doted July 11: - "The wool sales opened' with a large attendance of buyers. There ,vas good competition for an average selection, the home trade being the principal operators, with fair support from the Continent. As compared with the closing rates of last .erics, greasy Merino was par to 5 per cent higher; scoured Merino, unskenged: greasy halfbreds, 5 per cent higher; greasy crossbreds, 15 to 20 per cent higher; scoured crossbreds, 5 to 7 ; *. per cent higher; slipes, 5s to 71 per cent higher." Messrs. Murray, Roberts and Company, Limited, have received the following cable message from London: "The wool 'sales opened'with a good tone, and a good -attendance, Bradford being the principal buyers. Compared with last closing rates, crossbred greasy fine advanced 71 per cent, and l medium to coarse 15 to 20 per cent; scoured and slipe, 71 per cent."

The Bank of New Zealand has received the following cable advice from London dated July 11; —“The wool sales opened with strong competition and a large attendance of buyers. There is an excellent demand for all descriptions of crossbreds. Compared 'with the close of 'last sales, prices are all higher, Merinos 'Tom par to d; fine crossbreds, Id to *:|d; medium and coarse crossbreds, lid to Gd."

The 1 Gisborne Shecpfarmers’ Frozen Moat and Mercantile Company, Limited, have received cabled advice from London that the fourth series of wool sales opened yesterday to a good attendance of buyers, and the offering met with good competition. As compared with the closing rates of the May pales:—Greasy Merinos were 5 per cent higher; scoured Merinos, from par to 5 per cent lower; greasy fine crossbreds, 71 per cent to 10 per cent higher; greasy medium and coarse crossbreds, 10 to 20 per cent higher slipes, 5 per cpnt higher. The total available is 101,000 bales.