THE WOOL MARKET

Dominion, Volume 10, Issue 2896, 7 October 1916, Page 12

THE WOOL MARKET

'PRESENT POSITION REVIEWED. , Shearing lias begun in soveral places in. the district, the weather bciug fa.vourable. The first Wellington wool sale for the'season is fixed for November 15, and a fair cataloguo should bo ■ available. It is just possible tliat tlio' quantity to bo offered may bo larger than usual, owing to tho special condi- . . ,tions of the market. Besides tho actual .odvanoo in tho freight, thoro is 10 per / ■cent, primage, also.increased wharfage, and possibly increased storage. The London warohouso charges have been . ■ Increased by 7J per cent. In tho view ; | of one interested in the wool trade, the ' 'grower consigning his wool to London ! J must obtain a shade over 4d. per lb. to coyer his expenses. If supposing . ..a certain grade of' wool is worth in . tho local market a shilling per lb., to iobtain this parity in London the wtool • ' should bring slightly more than 16d., because in- addition to the estimated. ' ■ charges of 4d. per lb. there is the London broker's commission to "be provided. Tho question of tonnage is an import- / nnt one. and difficulties are again expected to occur when tho hulk of the wool reaches the seaboard. There may . not be any trouble during the rest of. tho year, but in January, and February it is very probable that the tonnage shortage will manifest itself. , Obviously the uest course to pursue is to get the wool away as soon as possiblo by every available steamor. If tho " Imperial commandcers more vessels the scarcity of tonnage may become acute. As to the question .... of market outlook, the conditions appear favourable. More men aro being

railed up, and more men means more woollen clothing. Prices are likely to continue high, nut the profits owing to the increased charges may not bo so satisfactory as tliey were in the paßt season.