LONDON WOOL SALES

Dominion, Volume 9, Issue 2662, 6 January 1916, Page 8

LONDON WOOL SALES

, A SPLENDID FINISH (From Our Sdmm.l Correspondent.) London, November IS, 1015. At Inst the final sale lias boon held in connection with the -seventh .series of colonial sales, the auctions terminating to-day. As one looks over the courso oi the series it has been patent that under pressure of outside demands, prices have steadily improved, this being totally unexpected. Many men have come to the conclusion that it is useless foreensting the probable course of wool markets, particularly -at a time like the present. Many have said that they see no justification tor the strong upward tendency of values m average to good combinV wools, and vet this last ten days there has been an advance of Id. to 2d. per lb. Of course, it is all in the interests of growers, and naturally they will benefit, but as an actual fact manufacturing conditions are not a particlo different to what they were before the auctions began, and yet the series have gained strength and higher prices have been paid after the end of the second week. The first week saw faulty wools having lost 7i to 10 per cent., but that has been to a large extent recovered, as such parcels during the past fortnight have shown considerable recovery. What it is expressly due to is very difficult to say. Some put it down to an augmented demand on the part of America, who undoubtedly has given very good support to all classes. Others say that carbonising is being more freely done jn Yorkshire and elsewhere, and even French buyers have purchased more of the faulty wools, all evidences of expanding: needs. However, the final results arc certainly very satisfactory, and the end arrived showing that there is still plenty of vitality in the wool trade.

Undiminished Call for Good Wools. _ The last week has really produced nothing different .to its predecessors, and ■ all one can say is that the demand lias been of the best. All good wools have sold without the least effort, and prices paid must be regarded as good. If we take heavy Queensland wools giving . a clean yield of ii to 45 per cent., these have sold at lid.—a price that seemed impossible. Topmakers and spinners have been obliged this series to give more support to medium length -wools, because superior parcels have not been there. Up to 18Sd. has been paid for Queensland produce bought by a Keigliley spinner;this, wool would not give more than 50 per cent, clean yield, and for anything at all bordering on a 3-inch staple in merinos fabulous prices havo been realised. Of collide, this' only illustrates how the trade is situatetj, and also shows conclusively that anything of a decent character is wanted, therefore, there is everything to encourage colonial. pastoralists to grow something showing character and style. The writer foresees quite as keen a demand . for this class of staple ivhen the war terminates as there is at present, in fact we are satisfied that the future of the wool trado is going to run along the lines which arc. at present in evidence. Of course, when more carbonising machinery is available in France and Belgium, there will be a return to the shorter and faultier wools,v but it is the. firm conviction of many that French representatives having tasted of the longstapled dry combed merinos produced in Bradford will show a preference to something showing length in the future. Crossbreds Scarce and Dear. • The catalogues this week have been very scrappy in regard to crossbreds, especially of a grease character. Of course the wools available are old parcels which have been knocking about somewhere in the. world since the last New Zealand shearing, aud they aro consequently unsightly and heavy in condition. Still, paltry faults to-day are ignored, and wo are afraid that many have been forced to buy wools at the best prices they could. Somebody remarked the other day that crossbreds wero being bought by men without limit; in other words they had to have them at the best prices possible, and when everybody seemed to have put 011 their last fraction somebody has popped up and crowned the bidding by giving an extra kl. Scoured crossbreds nave remained in very good demand, and are finishing 3d. to 4d. above last sories— a phenomenal advance. Of course Italian competition has here been manifest, and outside buying is almost entirely resnonsible for the upward movement seen. U hen wp come to slipes, we have also to clironiole ni&re money being paid. Wo think the aavancc here has been most in. evidence in .medium quality parcels says 46''s to CO's, while good' halfbred lambs have, sold- at about Id. more than in September. The crossbred market has lett nothing to be desired,' and wo foresee an equally keen demand for parcels which in the ordinary way should have tared badly, and everything points to fill present supplies beinc worked un bv the time the . next New Zealand clip becomes available. - America has given 6plendid support, but while this is being written, no particulars are available showing what has actually, been bought, yet.it will be on the top side of 10,000 bales, probably nearer 20/00 bales

Alterations in Evidence, ve * >e l o,v ' use fnl figures showing Vl P®' changes have taken place compared with the close of the September series AUSTRALASIAN WOOL, Greasy merino—Superior, nominal • average to good Id. to lid. dearer; poor condition, Id. dearer; inferior locks and pieces, par to id. dearer. Scoured merino-Superior, par; aver?.f J° } t0 M ; dearer ; inferior, Id. to- Hd. dearer; -faulty locks and Pieces, Jd. dearer. Greasy lambs—Superior, id. dearer; ordinary, par to Jd. dearer;" inferior, par. Ureasy crossbred-Fine superior. 2d. dealer; fine ordinary, Ltd. dearer; medium superior, 2d. dearer; medium ordin-' ary, IJd. dearer; coarse superior, Id. to UU. dearer; coarse ordinary, fd. dearer scoured crossbred-Fine, 3d. to 4d" dearer; medium and coarse, 3d. dearer.' Sslipe-l'ine lambs, Id. to IM. dearer; medium lambs, Id. to ljd. dearer; coarse lambs, Id. dearer; faulty classes, kl dearer. Greasy Punta Arenas-Well conditiont£,i:i it T , dea lf 5 irasty, Id. dearer; lalkland Islands, Id. dearer.

SOUTH AFRICAN WOOL. Snow White--Super westerns, par: super, par; medium, Jd. to Id. lower: intenor, neglected. Greasy combing—light, par; heavy, par. Greasy clothing, light, id. cheaper; heavy, id. cheaper. Healthy Manufacturing Conditions. luniing to manufacturing conditions, the situation is certainly a very healthy one. Ihe great recruiting campaign is demanding very serious thought, certain departments of the textile' trade have been specially reserved, and the men available while being placed on the list aio only to be called under verv exceptional circumstances. All descriptions of tops are again dearer, particularly fine crossbreds and merinos. It is now distinctly evident that topmakers have, contracted heavily on forward account, and many feel that it is unwise to take on heavier obligations in face of an unknown future. Possibly a few tops can be found at 3s. 3d. to 3s. 3Jd. for good Gis, but most firms will not quote, that showing clearly their position. We find many are very seriously concerned over tho combing question, narticularly topmakers who have no plant of their own As a matter of fact, there are still commission combers who promised to liave tops out last ilay and: June who have not yet completed their contracts and everyone alike is very late. There is a very healthy demand 011 export account for 50's and sG's; there arc no surplus stocks and everything is going" into consumption .as fast as it is combed.