THE WOOL SALES.

Dominion, Volume 2, Issue 554, 8 July 1909, Page 4

THE WOOL SALES.

The London- wool sales,' the fourth of the f s'erioß • for the year, commenced on Tuesday last, and as was expected there, is a slight decline in, values, amounting in spine classes to about 5 per cept., but all grades'pfwopl are not v affected:-Fino crossbreds show- no change, an,d the better grades of merino also appear to hold their position, but shabby,' coarse cross-, breds and slipe wools are" 5 per cent, lower. In view of all'the circumstances, this decline must be regarded as very, moderate indeed.' Ever since, the Npvombcr sales of last year values have been aspqndingr.and in the case .of .meririps the prices havo boon, rushed up: until tho quotations attainod a high Jevql,, &i tor the May-Bales warnings were given: by. several experts that merinos had got as. high as it was .wiso tocarry thoni. No doubt this olass of wool has been; in good demand, because; of the_ trend .of fashion, but 'oven so.' it was obvious 'that the suppjy was. well up - : to'.,tho" demand.. .It is not /surprising,. therefore, that 'picnnps show an easiertendency; Crossbred.wool is temporarily, affqeted by ; the /European and Ivorth Anicrican clips,..' whiclv ; are now available to the market. . Had, crossbreds declined 10 per cent.; there .would have been no' occasion l foi alarini .but no such doclino is' registered, It ib only the -inferior grades that are affected. Slipe, wool is- also lower, but this class of ■ wool varies according .to * tho, season 1 of the year, and, as : it-is long pr short, so the demand, for it is. affeotod. , when the relative values of, _merino and,"cross-, brod wools are'taken into consideration, the -.latter -.are too low in price; .bq.\ that evep if there is a fa,U in meriup it; dpes not necessarily follow,' i^re: wil; .Jjp a sympathetic movement, in crosshreds, Tho outlook is rather for qn advance; in crossbrcds ; or for a further faU' in meiv inos to bringi the two 1 classes'into a safer price relation.: t We think crossbreds. willadvance, not at the,., current .eaios,'.-but at the ; sales later pri.,' Tho .attendance of buyers 'is 'said ;to be good;and tho competition nioderatc, except , on tho: part of- the A.mericans,; who appear to ; bB again ■■', the main prop ,pf;the ; in'ariiet; ..,-'..■■."■ ■': "- '.. :■'- ■■ '-' ' ';: : ;'.'