LONDON WOOL SALES.

Dominion, Volume 5, Issue 1483, 4 July 1912, Page 8

LONDON WOOL SALES.

ANIMATED COMPETITION. By Telegraph—Press Association—Copyright (Bee. July 3, 10.25 p.m.) London, July 3. At the wool sales 8125 bales in the mis- ' cc'.laiieoiis . selection, including 5163 bales of New Zealand, were offered. The attendance was very large, and competition was anioiated. Fine crossbred* were 10 per cent, aboro the clawing nftcs of the May sales, and medium showed a 5 to 7J per cent, increase, duo to American competition. Coarse were at par to 5 per rent. iidvance > due to Home demand. .Merinos were nris, in sellers' favour. This series of sales wore arranged to last till August 2, but the labour troubles arc likely to cause a considerable curtailment.

ADVANCE I.N' PIUCES. London, July 2. The wool sales have opened. The market is strong, at from pat to n. 10 per cent, advanc*.

The trend of prircs at the London wool sales, which Commenced on Tuesday, will tifTord considerable satisfaction to sheepfarmers. The private reports received by cablegram by tin- various local woolbrokers show that the attendance at the opening was good, 'and the bidding animated-. Prices appear to have advanced all round, and crossbreds make a tine display in the price movement. The activity of the market indicatos that supplies are wanted. Manufacturers are apparently very busy and' trade is active. This upward movement at this juncture is full of promise for Mia future, for it must be remembered that those who are buying at the current sales have to lift the h'uropean and North American clip, which in the aggregate muel amount to an enormous weight of wool, for flreat Britain can shear about 39.000.000 sheep anil 11m United States about 55.000.000. and there are the sheep on the Continent to be reckoned with. The obvious deduction is that the manufacturers can do" with all the wool they can get just now. It is also very satisfactory to find American.* operating at a time when trade in the States must be greatly disturbed owing to the Presidential elections. The Americans must be in great need of wool, otherwise their purchases would he insignificant. The oi'ly point now is as to whether the advance recorded will be maintained. It is a difficult question for anyone to answer, but in view of the fact that trade generally is active, there is reason to believe that wool will hold its price.

Messrs. Dalgcty and Company, Limited. Wellington have received the following cablegram from their- London office, dated July 2:—"Tho wool Falea opened with a largo attendance of buyers, and competition was animated.'. The selection is nearly all crossbred?, and American buyers aro bryiug fine a.nd medium greasy crossbred wools. There is an advance all round, fine and medium crossbreds showing 5 to 74 per cent., coarse crossbred and merino wools par to 5 per cent." Messrs. Levin and Co., Ltd., have received the following cable advice from their London agents:—"Wool sale opened yesterday with a large attendance of buyer*. Fine and medium crossbreds opened at nn advance of 5 to 10 per cent, on the closing rates of last series; merinos and coarse crossbreds from par to 5 por cent, advance." Messrs. Abraham and Williams. Ltd., have received the following cablegram from London, under date .Inly 2:-The sales opened to-day to a large attendance of buyers. American? operating moderately. There is good competition, and tlic market is firm with steady prospects. Values, as compared with the closing rates of last sale, are as follow:—Vino crossbred and merinos, 5 per cent, up; medium crossbred, 75 percent, up; coarse crossbred, from par to 5 per cent. up. Messrs. Murray. Roberts, and Co., Ltd., have received the.following cablegram from their Loudon friends. Messrs. Sanderson, Murray, and Co.:—"Sales have opened firm with a. large attendance of buyers, competition being good. Merino shows an advance of from car to 5 per cent. There is no change in the price of line crossbred, but coarse crossbred medium shows an advance of 5 per cent., while coarse crossbred has advanced par lo 5 per cent." The United Farmers' Co-op. Association, Ltd., have received the following cablegram from their Loudon agents, under date July 2:—"The third series of wool sales onened to-day, and were well attended by Home, Continental, and American buyers. There was considerable competition. Fine crossbred advanced 5 per cent, to 7i per cent.; medium crossbred advanced to 75 per cent.; and coarse crossbred, from par to 5 per cent., as compared with closing rates of previous sales." Messrs. James Macintosh and Co. report having received th: following cable message from their London agents, under date of July 2:-"Woal: I'rire for coarse' advanced from par to 21 oer cent.; for medium. 5 per cent.: and for line, 7J per cent." The l'.anl; of New Zealand has received from its London office th- following cable advice, dated July 2: -"The sains have opened with strong competition, and large attendance of buyer-. There is a good domaud for all kind-, of crossbred wool. Total net ouantitv of N'cw- '/calami wool available N 15t),Cf.0 bales. The market is strong in- fine crossbred. Prices are higher to 71 per cent., and the demand for medium •oris is active. The market U also (.irons for roan" crossbreds. Prices arc par to 5 per cent, higher." The Depart men! of Acrirulturo and Commerce has received the lollowinc ■•.vide advice from the Ilich Cammi-.-ioner for New Zcn.l.-.r.rt. dated July 2. n!2: -The wool -•ales have commento,'l. I'e-pitc thr e-trike. a full catatonic las hreu shown to-diy. There i.- a large attendance of Home. Contin Pinal, nnd nvc«ni buyw. Camjatition Is very aiiinuttd, and proj.l

sped? arc favourable. Merino wool Ad. per Hi., medium crossbrods id., fine crosslii'cds 3d., and coarse crosabreds Jd. per lb. higher than the. closing rates of Inst :ta,le; 152,000 bales, of New Zealand wools ore catalogued. 'I'bc estimated value of New Zealand wools at. the (dose of the second series of colonial wool .-.ales in London on May 1, 1912. were as. follow :-Superior merino. Is. to Is. lid. per lb.; medium, 9*d. to lljil.: inferior, 75d. to 9d.; fiiip crossbreds. all grade*, ltd. to'ln. lid.: medium crnssbreds, B}d. to lid.'; coarse erossbreds, 7'd. to 10»d.