SUSTAINED DEMAND

Manawatu Standard, Volume LIII, Issue 266, 7 October 1933, Page 7

SUSTAINED DEMAND

SYDNEY WOOL SALES. GREATER BIDDING REGULARITY. STRONG OVERSEAS COMPETITION. (United Press Association—By Electric Telegraph.—Copyright.) Received October 7, 9.25 a.m. SYDNEY, Oct. 7. The weekly wool letter in the Sydney Morning Herald says that during the past week there has been a more sustained demand noticeable in the Sydney sales, though no quotable change is seen in the prices. Greater regularity in bidding is shown by the better volume of sales effected under the hammer. Of 38,076 bales submitted, 91 per cent, were sold at auction. Comebacks and crossbreds realised very buoyant figures. A number of lots which were passed in carried the owners’ reserves in excess of the current market. Strong Japanese and Continental competition has been experienced and France showed slightly more activity than of late. Germany operated in good volume and bidding was also noticeable from Italy and Belgium. Yorkshire purchased appreciable weights of staple. All classes fo wool are selling at figures far in advance of the rates ruling at this time last year, an example being the Gilead clip, the first of the new season’s Merino wool. Prices compare as follow for November, 1932, and October, 1933: —- Wethers: Best, ll£d, 17 Id; others, 10Jd, 17d. Ewes: Best, llsd, 17Jd; others, 10|d, 16d. Broken: 9£d, 14Jd. The clip averaged £l9 19s 7d per bale, or 15|d per pound. PRICES IN LONDON. RECENT RATES MAINTAINED. Received October 7, 11.25 a.m. LONDON, Oct. 6. At the wool sales 10,028 bales were offered, including 5692 from New Zealand, and about 6420 were sold. There was active Yorkshire and Continental competition and recent rates were maintained. Quotations are as follow: —Merinos: Greasy, New South Wales, 171 d; Victoria, 20d; West Australian, 131 d. Scoured: Queensland, 26Jd; South Australian, 24d. New Zealand sales were: —Scoured: Branded “Tekoa,” top price 22d, average 23|d. Slipe: Halfbred lambs, ■ branded “Pareora,” top price 16id, average 12|d. The sales close on October 11.