The Dominion. MONDAY, NOVEMBER 7, 1910. THE WOOL MARKET.

Dominion, Volume 4, Issue 967, 7 November 1910, Page 6

The Dominion. MONDAY, NOVEMBER 7, 1910. THE WOOL MARKET.

To-morrow at 2 p.m. tho Wellington wool-brokers will open tho selling season 1910-11 with a small catalogue of about 1200 bales. The quantity to bo offered is smaller than in the two''previous years, but this is due entirely to tho lateness of shearing. At tho .subsequent sales it is anticipated that the catalogues will be much larger than in tho past season, at all events' the wool storage acebmmodation has been very greatly increased in anticipation, and the Wellington brokers can now handle a vory largo quantity of wool with a greater degree-of. convenience than has been the case in previous seasons. The attendance of buyers will be good, that is to say, there will be a full representation of all classes of oporators except, perhaps, Americana. Tho absence of tho' latter should not occasion surprise, for last year tho Americans suffered heavy losses through thoir recklos3 buying. They caused an'inflation of values which, while profitable to the growers, gave overyonc a wrong im r pression of the market, and the setback that has followed the, liquidation of American stocks has ■ been a disappointment tp growers. There is a genoral impression that wool will not.sell as well as it did in the past soason, and that seems-very probable, judging by the movements in Bradford tops. Comparing tho quotations in May last with those current last week wo obtain tho following: Tops, ' May. Novembor. d. d. Forties 15... U Forty-sixes 17J 15} Common sixties 27} 27 Super, sixties 284 28 _. Sixty-fours 29$ .281 There is a set-back in every count, and for forward delivery the higher counts are fully twopence per lb. lower. The raw material must decline in sympathy. When wo look for tho reasons for the unfavourable position there aro several. The woollen and worsted industries aro not quite as prosperous on the Continent as in England, and this refers particularly to Franco, where there exists a certain amount of .uneasiness and anxiety. -At Mazamot the turnover has undorgono somo reduction, duo, it is said, to tho difficulty experienced by buyer and sellor in coming to an understanding in the matter of price. Even in Yorkshire it is reported that there is more haggling than hitherto over tho price, and longer negotiation bofore a deal can bo carried through. In the United States the position is a great deal worse, and the American purchases this season will be very-trifling unless tho general industrial situation undergoes a vast improvement. Tho slackening demand is bad enough, but to this must be added the fact that, the wool clip of 1910-11 will show a further substantial increaso over tho previous soason which was easily a record. With increased supplies and a smaller demand it is obvious that Values must yield, but the fall should not ho vory groat, perhaps a penny per lb. However, should the Americans come into the market, or any favourable change take place on the Continent, the market would immediately for, after all, we have to bear in. mind that the consumers of wool increase, more rapidly than tho production of the staple expands. The decline will not affect all classes of wool; fine wools will fall, but we are not so sure that crossbred wool will recede very much. For locks, pieces, etc., it is not unlikely that prices to-morrow will be higher than they were a year ago. Those growors who are inclined to place "fancy reserves" on their wool will probably find the market against them, but all reasonably-priced wool should sell readily enough to-morrow.