LONDON WOOL SALES

Nelson Evening Mail, Volume LVI, 7 May 1925, Page 5

LONDON WOOL SALES

BAD CONDITIONS

'By Electric Tolegraph Copyright > tAustralian & N.Z. Cable Association.)

LONDON, M;iv 6. The Daily Telegraph states that no series of London wool sales since November and December 1914 opened linden' such bad conditions as the present, has. The whole trouble seems to lie. That, there, is an excess of wool in sight and the prices have reached a level at which the consumer has rebelled. It is also probable that the first half of the season was conducted at too hot a pace, partlv through the operation of speculators who had no interest in wool or wool textiles.

AGENT’S REPORT Messrs Levin and Co., Ltd., have received the following cable from their London agents: —“The auctions opened here to-day with a- large attendance of buyers. Immediate prospects were unfavourable, and in view of the poor demand the sales will probably be curtailed. As compared with the closing rates of the last series, we quote:Greasy merino, Lost, 5d per ll> lower; greasy merino, average, 6d lower; fine iialfbreds, 50/56’s, 7d lower; halfbreds, 48/50’s, 5d lower; fine crossbreds, 46/48’s, 6d lower; medium crossbreds, 44/46’s, 6d lower; coarse crossbreds, 40/44’iS, 6d lower; low crossbreds, 36’40’s, 6d lower; slipes 5d lower. Afessrs Ifalgely and Go. Ltd., report having, received the following cablegram from their London house, under date of it ho sth i list. : -Wool sales opened. Attendance of buyers is large; fair selec- ■ ion ; competition very irregular; withj Irawals very heavy. As compared with | per, sales' closing ’ rates —super-merinos Hi per cent lower; merinos of other descriptions 20 per cent. lower; greasy , crossbreds 30 per cent lower; scoured and slipe crossbreds 25 per cent lower. , Afessrs E. Buxton and Co., Ltd., ad)vise having received the following caI blegrani from their London agents, '.Messrs Sanderson. Murray and Elder j. .L!d. under date 6th inst. : 1 ; “Slightly improved competition comI'oared with last sales closing rates. Mel ino best, description declined 10 per ’cent. -Merino other description declined 15 to 20 per cent. Principal buyers Conf tinental.”