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LONDON WOOL SALES

■ — ♦ •. . UNSATISFIED DEMAND FOR GOOD MERINOS AND CROSSBREDS »Trom Onr Special-Oorrospon drat.J London, November 11, 1915. " The sales were resumed last Tuesday, ..when; there was no tack >in- attendance, : tho Homo: trade being particularly ! well ; represented. Some who were not pre-- . .sent-last "week turned up on Tuesday,. 1 besides a few French buyers. Evidently there.-is no' diminution in., the course of tho auctions, and we have not heard a single.'complaint .at the present order of tho absence of a : Monday's salo evidently being . appreciated by, all sec- . .tions of the: trade.' While on some days, Wools have been absent from the catalogues that ought to have been staged, there has not been anything ■ like the -weight of..wools wanting one--sa!w omitted iii September, and there is every likelihood, of the present arrangement of ': no sale on. a Monday lasting, till-tho war terminates. No section of the trade is ■ suffering because of the present arrangements, but all alike, feel that some bene- ■ fit lias been-derived, and in the aggregate, if the wools'are stased that are cata- . logued, it" will be 1 infinitely better than ft thousand bales being: wanted as was • the case on many days during previous series. 1 The catalogues' 'this - week • have not presented a very attractive appearance, there being considerable . weights of inferior parcels still submitted. Of •. course, the catalogues are being salted nicely with new clip wools from both New ■ South Wales and Queensland; and but for these there would be an exceedingly- poor show. All the wools have come;from what may bo called early dis- ; tricts, chiefly central and north-western . Queensland, and the far western portion of New South Wales, and on the whole the parcels show unmistakable evidenceof the sheep having passed through a very '.'dry'time.-', .We have heard- no one find , fault', regarding. tlio quality, tie : missing ' link in many of tho clips being the want of length and soundness of staple. Boom Prices in Adelaide. The outstanding feature of the week's auctions has been the excellent call for good clips, and anything at all well grown has' Sold as well as ever. When 16d. to 16id. is being paid for greasy fleece wool that will not give a clean yield of more . than .j 47. per cent., it shows' distinctly what wool is worth/ • The hand of tho trado is certainly being forced by over-. Eoas cables, and the prices sent over from Adelaide ; last 'Friday almost took the .breath out the months "'of many buyers. • No cable has ever been' more seriously considered than that published by Messrs Elder, Smith, and Co., Ltd., showing the averago prices realised for fleece wools, -and they created quite a sensation.' All .- tho -Yorkshire.: papers published it last Monday, and on 'Change it gave rise to a- good 1 deal of discussion. . Of course, the brands are' known: to practically all buyers, particularly topmakers-and spinnors with whoni South Australian, wools have always been favourites,' owing to the shafty,'nature of the clips, and to-find suchjclips as Kliine Park, Buckland Pnrk, : ' Glen; Turret, Carunna Downs,: and Uloo- ■ ••'loo averaging 'from- '14Jd. to 155 d. means big prices when that gets" into the top. One .must add" to tbe above prices Sd. per- lb. as representing the cost of bringing wool from Australia to Bradand 1 the wools - at the t very outside will not give more than 53. to 5i per cent.., clean yield,:if '.so-'much. Many buyers' give them 52 per cent., and calculate that in many cases tops made' from these marks are going to cost anywhere from 3s. -4d. to 3s. fid. per lb. . These certainly must be regarded as boom prices, and illustrate .what the trade is to-day greatly in search of, namely, length of staple and wool- possessing sound commercial properties. ' ••Good Wools Selling as Well as Ever. Of'course the current series of London sales has not produced wools of the above '; character, the nearest appj-oach ■ being the Maaonpo clip, offered .a week ago,

and which 6old up to 17jd. This was old wool from the shearing of 1914, showed a very good staple, but burry, and the clean yield would not be any more than 50 to '52 pel* cent. Still, it sold .splendidly, and the samo must; be said for all similar; classes. • There seems to be n per-; feet dearth of really sound combing wools', .something that buyers appreciate, and the: scarcity, of this class is 110 doubt largely "responsible for the excellent prices which are being paid. Home trade users aro apparently very much concerned at the strong rising tendency of values at the beginning of a season, and many Bradford topmakers aro nonplussed at being faced with prices which mean in many cases at least 3s. 3d. for good Gl's tops.' Of course, for the shabbier wools very different figures are being paid, but there is cortainly better competition for ;even medium combing wools, and there is ■ no giving way whatever in prices. Values for everything of a really useful nature 1 are. fully maintained, if anytaiag these being against the buyer. It si ems to us as if the yiarket is in such a condition that if France. Belgium, and Germ-iny could now step in and have their fling as of old, wo should see prices lifted for even faulty wools at least 10 to 15 per cent., that being the weakest side (if tho market. '■ Good scoureds are also commanding excellent competition, and those who have' .been waiting to see Kussia cease her operations and give home trade buyers a chance to pick up good, ciean scoured merinos, seo that it is usfless waiting any longer, and many woollen manufacturers in the West Riding aie at tho moment disposed to bid more viporously than they have done, forcing the hand of Itussia 4 little more than its representatives care for. ' Faulty Wools Unchanged. The most that can bo said about the faulty and inferior descriptions is that they are meeting with a rather better reception; while we cannot say that prices are quotably higher, the iall seems to havo subsided, and there is more general competition for . these Wools. Anybody who can use 6eedy, burry parcels con to-day secure some very reasonable raw material indeed, and there seems to tile writer to be far more valuo in tho 15d. to 17d. scoured burry wools which show a decent colour, than there is in the parcels which aro selling tlie top side of 2s. 3d." What we mean is that tliero is no consistency whatever in the prices bid by buyers, And woollen manufacturers who have the necessary plant for dealing with the. lGd. scoured wools are to-day purchasing raw material which, after the war, will be looked Upon as dirt cheap. Another penny decline and these combing pieces and bellies will oe as cheap as they were at the lowest point last December when they could hardly be sold. We understand that a French buyer has been, fortunate in securing a carbonising plant situated near the Spanish frontier, and if so,' we fully expect to see increased competition for these wools on French account. 'It is rather noteworthy that manufacturers from Yorkshire who own carbonising plant are buying more actively than .they were, at least they seem prepared. to operate on a larger scale, and are therefore determined to do their utmost to obtain considerable stock while it is there to buy,- Some seem to think that these wools are still selling at higher values than they ought to do, but the writer, fails to see that in the least. There is no question of a doubt as to .which is:the cheapest stock on the market, to-day, and anyone capable of using these faulty wools can pick up any day a real good bargain. When one contrasts faulty scoureds _with the price of noils, the latter- are in the picture very prominently, and noils are dear compared to the present price of faulty merinos. Crossbreds Sound and Healthy. If there was in London to-day a decent selection ;of crossbred wools, they would be commanding big figures, and it would not take really excellent wools to see . Is. ?d. paid once again for greasy fleece. Of course the parcels on offer are all old wools from the New Zealand shearing of 1914, and; having been about in the docks or elsewhere, do not present a very satisfactory appearauce, one competent authority 1 remarking last week that many parcels have in them at least 10 per cent, of water, or to be more correct, havo picked up 10 per cent, extra condition. Prices are all as. firm as ever, and anything decent still commands tlio undivided attention of both the Homeland American trades. There is still 1-Jd. advance m evidence for all decent lots, and the : trade, is entirely unsatisfied. -Steadily advancing top values in Bradford all means increased purchasing power or rather better limits to buy to, which always has its effect upon the price of wool. Slipcs are selling at' practically unchanged .values, and America is still in the market for them, although a few firms have.not been so keen as they were. Still, 24d; and even 21Jd. has been paid for sliped lambs, America mostly wanting medium and. fine quality parcels. When we como to Leicester and .Lincoln lambs, the demand is not so keen, while the heavy limey sliped crossbreds aro still selling at very little more than in September.

Scoured crossbreds are making fabulous prices, and the advance to-day is often 2<l. to 3d. per lb. Of course, it is

tho scarce supply which is largely tho cause ot this, but all things considered the Home trade, America, and Franco ■want the wools badly. Of course, seedy parcels which will have to be carbonised before being used are not selling like good scoured ileece wool, even Italy wanting the latter. This means very keen competition, prices still tending upwards.

Healthy Conditions in Bradford. Turning to consuming centres, the d market in Bradford is bordering -upon a d 6tate of boom, the price of tops tending e very materially after tho order of things " which prevailed last June and July, when prices touched '9s. 9d, for Gi's tops. Prac--1 tically speaking, values have lifted Id. per lb. per week for tho past threo weeks, R and whereas the writer purchased good '■< Gi's at 3s. Old. even a fortnight ago, the t same topmaker is to-day demanding 3s. 3 Id. Of course, this is a fictitious price, ® largely protective, but it 6hows the gejiJ eral tendency of quotations. Things are very healthy, and topmakers apparently r have all oil to cope with tho demand for " merinos on Home and French .account. a No fine tops are being allowed out of the ® country, except to France, nohvithstand- ® ing persistont inquiries from Scandinavia . and elsewhere. Australia! cablegrams r no doubt ore at the back of topmakers' s minds, aud they arc determined not to j| risk the future l>y taking ridiculous s prices. Some have sold'rather low, hav--8 in.g taken from 2s. lOd. to 2s. lid. for ® 61 s, but to-day prices .are such that it is making users think twice before selling ' heavy-weights. France is a persistent buyer, and some firms are now prepared J to consider offers for . next March . and April deliver}'- The samo thing obtains in crossbreds. Here, too, values are all | a good Id. higher on. tho week, largely dne to the export demand on the part of Italy. Licenses are being granted very tardily, and the War . Trade Departs ment is evidently not disposed to give to , the trade all thaF if Is -asking for in i this particular. A few licenses have " been granted for Holland, but precious | few, and it only needs values to advance ; a little further, when the War Trade Department will cut off licenses entirely.

Permanent link to this item
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https://paperspast.natlib.govt.nz/newspapers/DOM19160104.2.59.1

Bibliographic details
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Dominion, Volume 9, Issue 2660, 4 January 1916, Page 10

Word count
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1,980

LONDON WOOL SALES Dominion, Volume 9, Issue 2660, 4 January 1916, Page 10

LONDON WOOL SALES Dominion, Volume 9, Issue 2660, 4 January 1916, Page 10

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