WOOL MARKET.

Wairarapa Times-Age, 1 April 1938, Page 4

WOOL MARKET.

LONDON SALES. PRICES STEADY AT DECLINE. LONDON, March 30. Offerings at the wool sales to-day were 6740 bales, including 1568 bales of New Zealand, and 5357 bales were sold. A good selection was offered and sold well at steady rates. The New Zealand clip, greasy merino, “Benopai,” sold at 12d average, top price 12Jd. Throughout the series 93,600 bales have been offered and 80,500 sold. The home trade bought 42,500 bales and the Continent 38,000. The tendency of the market throughout was steady at the decline, but competition was keen. As compared with closing rates of last series, prices were generally 5 per cent, lower. Of the quantity sold 29,500 bales were Australian and 39,000 New Zealand, but 32,500 bales of Australian and 16,500 bales of New Zealand were held over. The offerings were rather below expectations, due to the tendency of owners to hold off until later in the year. SYDNEY SALES. PRICES VERY FIRM. SYDNEY, March 31. At the wool sales the market was very firm for all descriptions. Spirited competition was displayed for super sorts. The demand was well sustained by Yorkshire, the Continent and Japan. Greasy Merino made to 25Jd. The offering consisted of 8636 bales, 7580 being sold at auction and 306 privately. BROKER REPORT GOOD CLOSING TONE Messrs Murray, Roberts & Co. Ltd., are in receipt of the following wool market cablegram from their London agents, dated March 30. —Sales have closed with a good tone, competition being good; Bradford buyers were the principal operators; Continental buyers were operating with great reserve. Compared with the last London sale the closing rates are:—Greasy merino, best description declined 5-7-J per cent; greasy merino, other descriptions, par to 5 per cent, decline; scoured merino, best market shows no change; scoured merino other descriptions declined 510 per cent; crossbred greasy fine market shows no change; crossbred greasy coarse to medium declined 7J per cent; crossbred scoured declined 5 per cent; slipe crossbred par to 5 per cent decline.

The closing rates for the March series are as follow, the closing rates in January being in parentheses: —N.Z. merino 60/64’s yeilding 48 per cent; HJd (lljd). Halfbred 56’s yeilding 64 per cent, lljd (12d). SupFnXb, 50’s yeilding 70 per cent; IOJd (lljd). Fine Xbred 48/50’s, mixed, preparing and carding yeilding 72 per cent; IOJd (lid). Fine Xbred 46/48’s mixed preparing and carding yeilding 74 per cent; 10Id (lid). Med Xbred 44/46’s prep yldg 76 per cent; lOd (lOJd). Med Xbred 44/46’s card yldg 74 per cent; lOd (10Jd). Cse Xbred 40/44’s yeilding 75 per cent; lOd (lOJd). Low Xbred 36/40’s yeilding 76 per cent; 9Jd (none).