LONDON SALES END

Hawke's Bay Herald-Tribune, Volume 81, Issue 55, 27 November 1937, Page 5

LONDON SALES END

-Presi Assn.-

Prices 15 to 25 Per Cent Lower ■ r -'i STEADY AT NEW. LEVELS

(B» Telearanh-

-CoDyriiM.)

(Received 27, 12.16 p.m.) LONDON, Nov. 2«, The London wool saies concluded ah offering of 9340 bales, of Which 4494 were fjom New Zealand; of theM 7631 were sold. There was a fairly good selection, with an improved demand for bait kinds. Throughout the series 73,400 beles were offered and 57,000 were sold. Thi Home trade bought 29,500 and th© Coa-. tinent 27,500. The tendency throughout was steady at a decline, but dompetition was keiiM Compared with the closing of th© previous series, prices were 15 to 25 per cent. lower. New Zealand slipe: Half bred lambs, Canterbury, top price 144 d, averag© 124d. About 31,000 bales of Australian and 28,000 of New Zealand wool have beeh held over for the next series. Merinos sold throughout at 15 t©JI5 per cent. lower; Bradford top-makiaj; styles, 25 per cent. lower; fine croisbreds opened at 20 per cent. lower, ea©-, ing further to 25 to 30 per cent.; me* dium softs similarly fell; slipes, in laTge supply, gave way 30 to 35 per cent, r • Murray, Roberts and Co., Ltd., hav© received the following cablegram from their London house: — The London saies have closed firm. Competition keen. Continental buyers operated freely, Home buyers operatlng more freely. Compared with last .London sale '? elos- ' mg rates, greasy merino, best descrip* tions, declined 15 per cent., Other d©scriptioiis declined 20 to 25 per cent.; scoured merino, best descriptions, - declined 10 to 15 per cent., other decrip* tions declined 20 to 25 per cent.; eroSi* scoured declined 25 per cent.; greasy and slipe erossbred declined 30 per cent. The New ealand Loan and Mercantile Agency Co. Ltd. ■ have received th© foilowing cablegram from their London house: Sixth series closed to-day when 73,000 bales were off ered of which 54,000 baies were sold. Yofkshire and Continent were the chief buyers. Prices as compared with fifth series Were lower by 3d. to 4d. per pound for medium and inferior merino.Inferior scoiired merino, and merino and erossbred lambs, lower 4d. per pound for super greasy merino and coarse scoured erossbred; lower 4d. to 5d. per pound for super scoured merino, mediUin scoured merino, coarse creasy erossbred and medium - erossbred; lower 5d. per pdtind for fihe erossbred; lower 5d. to 6d. per poilhd for medium erossbred shpe and coarse erossbred slipe; lower 6d. to 7d. per pound for fine erossbred slipe. The market was weak with. little prospect of improvement."