SLIGHTLY HIGHER BASIS

Sun (Auckland), Volume II, Issue 361, 23 May 1928, Page 12

SLIGHTLY HIGHER BASIS

LONDON WOOL SALES CLOSE (United P.A.—By Telegraph—Copyright) (Australian Press Association.) Reed. 9.5 a.m. LONDON, Tuesday. The wool sales closed on a slightly higher basis than at the opening. The bales catalogued numbered 100,544. It is estimated that there were sold to the Home trade 170,000 bales, to the Continent, about 49,500 bales, and to America, 1,000. The number held was 33,000. Competition was keen and general throughout. Continentals bought largely in Merinos. The Home trade was active in crossbreds and slipes, thanks to strong competition with German, Swiss and Alsatian spinners. Prices for fine Merinos were well maintained. Broader sorts suitable for topmaking were also very firm. Faulty carbonising sorts hardened as the sales progressed, except the scoureds, which are still about 5 per cent, below March values. In crossbreds, the finest partly recovered the opening decilnc. Medium and lower grades have been in sellers’ favour. Siipes did not maintain the abnormal March rates, and were generally from Id to lid cheaper. Medium and lower grades were in storng demand. and values were unchanged. In lambs, Merinos were irregular. Choice Parcels were firm. Others were genera®- from part to 5 per cent, below March values. Crossbreds were firm and unchanged. New Zealands: N/M, 17d: HRTT, 17d.