LONDON WOOL SALES

Sun (Auckland), Volume III, Issue 715, 15 July 1929, Page 10

LONDON WOOL SALES

BRISK HOME COMPETITION AT LATE RATES NEW ZEALAND PRICES (Australian and N.Z, Press Association) LONDON, Saturday. At the wool sales 6,625 bales were offered, of which 4,856 were New Zealand. There was a small offering of greasy Merinos and crossbreds, and many slipes, for which there was brisk home competition at late rates. The following New Zealand clips realised the prices stated:—W.F.M./ T. 8.5., super halfbred, 22d; super, three-quarterbred, 21d; Feilding, super halfbred, 22d; tlireequarter-bred, 19?;d; Canterbury, super halfbred, 21d; threequarterbred, 19d. Commenting on the wool sales, “The Economist’s” correspondent writes: “Prices declined a little more than was anticipated, but in view of the adverse conditions reported from France and Germany no one need be surprsed at what has happened. All alike are seeking seriously after a new buying basis, and until the trade feels that bottom has been touched there can be no improvement. “The decline of 5 to 7i per cent, has to a large extent been discounted in consuming centres like Bradford and Roubaix. Wool is still selling at values slightly above what can be made for tops today. Whether the holders of second-hand parcels will decide to sell and accept current values remains to be seen. But there seems little hope of higher prices, even if the wool were held until September. Crossbreds have declined fully as much as was anticipated, and the fall should bring about free buying.”

WORLD’S BEST BUTTER

NGATE A' FARMERS TO CELEBRATE (From Our Own Correspondent) NGATEA, Saturday. The winning for the second time of the Weddell Cup. which is awarded each year to the factory exporting the highest average grade of butter during the exporting season and which is regarded as the blue riband of the dairying industry, is to be fittingly celebrated by the staff and suppliers of the New Zealand Cooperative Dairy Company’s Ngatea factory. A function has been arranged to take place in the Ngatea Hall to present the trophy to Mr. C. S. Foster and his staff, and also to honour that part of the district which did the most to assist in winning it, by supplying the greatest percentage of superfine cream, by presenting it with the cup donated some years ago for the purpose by Mr. R. L. Davies, of Kerepeehi. The function will be on similar lines to that held on the previous occasion when the Weddell Cup was won, and will consist of a concert, followed by the presentation ceremony, during which the directors and the chief executive officers of the company will speak. Supper will then be served and a dance held. Admission will be by invitation to suppliers and their families.