WOOL IN LONDON

Wairarapa Times-Age, 12 May 1939, Page 6

WOOL IN LONDON

FINAL SALE OF MAY SERIES ACTIVE HOME TRADE DEMAND. IMPROVEMENT IN CROSSBRED PRICES. By Telegraph—Press Association— Copyright. (Received This Day, 11.55 a.m.) LONDON. May 11. At the wool sales. 9,658 bales were offered, including 5.632 New Zealand, and 8,271 were sold. An average selection met with a continued active Home trade demand. Withdrawals were chiefly confined to the best slipes and the best Merinos, owing to firm limits. New Zealand prices:—Greasy crossbreds, Moeraki, 8.1 d; greasy halfbred, Vernon, 10? d; slipe half bred lambs’, Belfast, 151 d.

Throughout the series, 69,600 bales were offered and 61,500 sold, of which 36,000 were New Zealand and 11,000 Australian. The Home trade bought 41,500 bales and the Continent 20.000 bales.

The quantities held over were 7,500 bales of New Zealand and 23,000 of Australian. The tendency throughout the series was irregular, with competition active. Compared with the closing prices of the previous series, greasy Merinos were at par to five pei’ cent lower; scoured Merinos and fine greasy crossbreds at a par. Crossbreds, medium and coarse, were five to ten per cent and slipes ten to fifteen per cent higher.

Messrs Levin and Co., Ltd., have received the following cable from their London agents, dated May 11: “The auctions closed here today with a good tone. There was good general competition, the opening rates being maintained with the exception of fine halfbreds which are a -Jd per lb. lower, and sliped wools which generally are sometimes in favour of the buyers. The total quantity offered was 69,606 bales; sold 61,500 bales; carried forward 31,000 bales, including 7,500 bales from New Zealand.”