WOOL PRICES MAY EASE

Sun (Auckland), Volume II, Issue 347, 7 May 1928, Page 14

WOOL PRICES MAY EASE

LONDON SALES AWAITED BRADFORD INDICATIONS (United P.A. — By Telegraph — Copyright) {Australian Press Association.) Reed. Noon. LONDON, Saturday. The opening of the London wool sales on Tuesday is awaited with considerable interest. Following the decline in the values of Bradford tops, it is pretty generally expected that the last series’ prices can hardly be maintained, but nobody anticipates that the decline will exceed 5 per cent., especially as the offerings are light. Much, of course, will depend on Continental buyers. The “Economist’s” wool expert writes: “The spring trade in textiles is opening out very slowly, largely because of the recent cold weather. Still, the aggregate consumption of wool at Home and elsewhere shows practically no decline, and the position may therefore be regarded as sound.” APPLE TRADE IMPROVES The apple trade has shown some improvement this week, chiefly because the fruit had arrived in better condition. Fine warm weather has also brought about a better demand, but on the whole the market is still in an unsatisfactory condition. One importing firm writes in a circular: “Present values must mean a serious loss to the growers and speculators. Apparently the retailers are only buying from hand to mouth, waiting till rock bottom is reached. However, the low standard of prices had perhaps done some good, as it has got the fruit into consumption, and it is hoped the public may now buy freely.” DAMAGE TO CROPS In references to the effects of the cold spell of late April, the Ministry of Agriculture’s report states: “The blossoms of certain kinds of fruit in England and Wales are visibly damaged. The extent of the loss cannot be estimated with any degree of accuracy, but severe damage appears to have been strictly localised, and it is stated that it is unlikely that crop prospects will be materially affected. Reports from the principal Continental fruit centres point to serious damage. The French cherry crop is expected to be only a quarter of last year’s. Apricots promise only one-tenth of the normal yield. “Spanish prospects are also bad, awong to frosts catching the trees in full blossom. The Murcia apricot crop is expected to be only 30 per cent, of the normal.” LONDON MARKETS FROZEN MEAT VALUES (United P.A.—By Telegraph — Copyright) (Australian Press Association) LONDON, Saturday. Sheep. Canterbury, light, 7 l-8d; medium, 6Jd. North Island, light, 7d; medium, 6 3-Bd. Argentine, medium, 6 3-Bd. Lambs. Canterbury, light, lOd; medium, 9 3-8 d; seconds, 9Jd; other selecteds, medium, 91d. North Island, firsts, light, 9 5-8 d; medium, 9 l-Bd. Australian, firsts, other States, 8 5-8 d; seconds, Victorian, 8 15-8 d; others, 81d; thirds, 8 l-Bd. Argentine, firsts, medium, 7*d. Frozen Beef.—New Zealand, hinds, 5Jd. Australian, hinds, sd. Argentine, hinds. 6d. Chilled Beef.—Argentine, fores, 4£d; hinds, 7Jd; others unchanged. COTTON, RUBBER, HEMP, ETC. (Last week’s prices in parentheses.) Cottor .—June delivery, 10.97 d (May. 11.16 d) a lb. Rubber.—Para, lOd (lOd), it lb; plantation and smoked, 82d (8 3-16 d). Jute. —May-June shipments, £34 5s (£33 17s 6d) a ton. Hemp.—April-May shipments, £3l 10s (£3l 10s) a ton. Copra.—April-May shipments, £27 (£27) a ton. Linseed Oil.— £37 5s (£3l ss) a ton. Turpentine.—4ls 3d (425) a cwt. PRICE OF OSM IRIDIUM The osmiridium market is quiet and prices are unchanged. WHEAT Wheat. —Cargoes are steady and sellers are occasionally higher. Buyers continue reserved. Parcels are firm at 6d advance. Trading is slow. Liverpool futures: May, 10s 11 7-8 d per cental; July, 11s 3d; October, 11s 4id.