COMMERCIAL

Nelson Evening Mail, Volume LXIII, 26 July 1929, Page 6

COMMERCIAL

LONDON WOOL SALES The New Zealand Loan and Mercantile Agency Co., Ltd., have received the following advice from their London house dated 23rd July:— Wool sales closed. Competition restricted and very large withdrawals. As compared with last- sale’s closing rales, prices are lower about 5 per cent, to 7J, per cent, for goarso and medium greasy crossfire 1 ?!, greasy and scoured merino super. Prices are lower about. per cent, to 10 per cent, for greasy merino medium, merino lambs and medium crossbred slipe. Prices are lower about 10 per cent, for fine crossbred, greasy merino inferior, scoured merino medium and medium scoured crossbred. Prices are lower about 10 per cent, to 15 per cent, for crossbred lambs and scoured merino inferior. The prices realised for average to super grades, all descriptions as below were as follows:—Merino super 18(1 to 21d, average to 17d ; crossbred, 56/58’s 17Jd to 20d, 50/56’s 16/d to 18d, 48/50’s 15d to 16d, 46/48’s 14£d to 15)d, 44/46’s 14d to 15d. 40/44’s 14.1 to lsd, 36/40’s 134 d to 14/,d. HIGH COMMISSIONER’S CABLE The Department of Agriculture has received the following cablegram, dated 24tli instant, from the High Commissioner for New Zealand, London: — Wool: Sales closed yesterday. Competition improved as sale progressed, but demand was restricted and buying was of hand to mouth character. Confidence little improved but not yet restored. More active demand from manufacturing sections at home and abroad needed. Compared with closing rates last series merino 5 per cent, to 10 per cent, crossbred 7£ per cent, to 10 per cent, New Zealand crossbred scoured 10 per cent to 15 per cent, slipe 7£ per cent to 10 per cent lower. Average closing values, 60’s to 64’s, super Is 7d to Is 9d per lb (nominal), average. Is 3d to Is 4id; 56’s to; 58’s, Is 6d to Is 8d; 50’s to 56’s, Is 4id to Is s|d; 48’s to 50’s, Is 3£d to Is 4£d; 44’s to 46’s, Is 2d to Is 3d: 36’s to 40’s, Is l£d to Is 2£d. 101,000 bales catalogued, of which 75,000 sold. Continent taking 44,000 and home trade 31,000. About 58.000 bales held over, including 41,000 not offered. Next series commences 17th September.