LONDON WOOL SALES

Dominion, Volume 10, Issue 3031, 19 March 1917, Page 8

LONDON WOOL SALES

BIG PRICES FOR MERINOS

(Prom Our Special Correspondent.) London, { January 11. [ We aro now in the thick of (Ac tirst series of "coloniarsales for tho new year, [' and a somewhat different spirit is felt iu ; Coleman Street Wool Exchange from ; what obtained- in December. At that j time things touched high-water mark, bat the enthusiasm and temper of buyers 66oms to have somewhat subsided, "and : 'apart from -the best and most stylish greasy combing merinos, prices aro un- ; doubtedly in buyers' favour. Before the I auctions began the writer stated that I things had touched high-water mark, akZ j we are moro convinced, of that fact than ; «ver. To a verey large extent this is du« ', to Government interference, and while. ive are not expecting -wool values to fall i the samo as cotton aud copper, still we ; nave to face the fact that prices have mostly cased, though tho demand is still !'. ■ .very satisfactory where good; shafty new .. olip wools aTe concerned. Of course Teaders must not forget tho fact that '■ prices are still extraordinarily high, and ■ Id. to 2d. per lb. either up or down [~ does not make a great deal of difference. j Still the fact is Eevertheless there that tho demand for wool is Lot nearly so ' keg'i and well sustained as it was last series, and while importers and owners ; are satisfied, still the fact of the Government taking over new olip wools consigned to this country on growers' account' has to some extent robbed thoir sale of some of tho interest which would nave been in evidence had these clips ibeen sold under similar' conditions r.s ' obtained in December. There is nothing ■ \like a free and •untrammelled market in the creation of confidence, and once that i ,'is shaken prices always more or less ;' 'Buffer. ! Some First-class Offerings. The opening day saw no new clip wools .■-catalogued, but since there has been r daily a nice selection of really good, fuseful raw material. It is plain to bo ' Been that tho. new clip this year is in 'excellent order. The olip-is exceedingly j .well grown, tho staple being sound, ) ■ <;hafty, and of good combing length. i These are characteristics'whiclt help in ' the sale of any wools, and had they been entirely-free wo should have seen a con- ! jtinuauce of red-hot- sales. . However, ',thero is soma satisfaction in knowing ! 'that new clip merinos meet,with the api' .proval of all, and so far the writer has ;not heard any single word of comment but what has been favourable. Looking over the course of the clips Isold, a New England clip from New '. -South Wales has sold up'to 2s. lfljd., "this being for the second combing H. T 'il'his lot of wool was 6'l's to 70's quality, ! 'showed a nice staple, and would give ja. clean yield of about 53 per cent. It i ißhoiild bo here mentioned that the first • ■ 'sis lots of this clip, comprising super 'and first combing, were all withdrawn, the number of bales being 200. ?t makes' one ask tho question, if the seelond oombing hoggets realised lOd., what ~-would the super and first combing have made? Another clip, owned by the Peel Jliver Land and Mineral Co., sold at 2s. aOd., a Aforee grown clip realised 2s. Ltd. Sor the A combing WAE, while anotlwr Excellent clip realised 2s. Lid. for the A ; - combing, the first three lots of AA, combing being taken.out by Government orders. Like the first-named, these evidently had been selected for military •work, and wo believe that in both cases ' fed the super wools been offered thoy 'would-have made 3s. per lb. These, par-

hculars nloue clearly indicate « very strong market for good wools. Another northern clip never appeared to better advantage, tho grease super combing W aaking 2s. !kl., A combing 'Js. 3d., AA combing 2s. 7d., and.lst combing H 2s. Id. Good shafty pieces are also fetching good figures, but wo hardly think they aro selling so well as combing wools. The clips named, with tho exception of that from Aloreo, got very burry towards, the end. nod carbonising wools have certainly suffered. Then, too, good scoureds are not realising fully last sales'' extreme price*. Ono of them showed excellent characteristics, being big and biiltfv,, the first lot of AA combing WW selling at Is. 6d., but this wool last series would have sold at 4s. fld. to ss. Russia did not make a single hid. Tho clip throughout has been very well handled, and certainly came in for very good competition. Among the West. Australian clips, a mirth-western clip was very well grown, shafty, though decidedly red in appearance. Still, tho wool was very useful, and made 2<. Aid. for 12 per rent, clean yield combing. Bradford topraakers were very keen in acquiring these wools, and certainly got some reasonable parcels. Another West Australian clip for the grease fleece aha made 25., a central Queensland mark realised 2*. lOd.. another from West: .vistralia sold at; 2s. lOd. for grease combing, prices which clearly indicate an extraordinary market.

We must mention the very big prices paid For scoured New Zealand merino fleece, 4s. SJd. being realised for super combing, the mark being KB & A/WaiK'iwi; half bred combing 4s. 3d., Koputone super combing 4s. 5d., these prices being very big and certainly satisfactory, though another high pTice was is. BJcI. for scoured merino combing, the brand bciDg AVaihopai/il.

Crossbreds Easier. We must, tell the truth, and ireport, that crossbreds .are generally in buyers' favour. Why, it is not easy to say,' but there is unmistakable evidence of prices being a penny cheaper. This was in evidence on the opening right, many people thinking it due to' tho heavy wasty conditio): of the wools catalogued, but there s,re too ninny lots of 36's to Ws quality wools selling at Jo. Bd. to Is. fld. to indicate that prices are .on a parity .with those ruling last series. Of course, buyers know the heavy condition of these wools, ai: carrying more or less excessive moisture, due to the wools beshorn in 1915. There has been nothing spicy offered whatever, and on all hands it. is seen that buyers want to purchase at lower limit*. Wo believe we are right in saying that before the end of the series a .little new clip crossbred fleece wool from New Zealand will be offered by public auction, and we understand that the wools are in exceedingly light condition. Of course, there has been nothing really goad catalogued, and this may have something to do with the state of tho market.. As already indicated, the prices being paid for scoured crossbreds are excellent, but there is here likewise a little irregularity. For realiy good parcels excellentfigures are forthcoming, and the quantity catalogued is rather move than wo expected. However, th:7ien do not hang fire, • although we hardly think the extreme prices of December are, always bein " realised.

Every day there has been a nico ami acceptable show of sliped crossbreds, and these are hardly realising the extremo price of last'series.. The CMCoL slipes from Chridtchnrch have commanded two year as much favourable comment as any mark, and on several occasions somo really first-class parcels have been offered. Still, the super half-bred lambs have not sold at more than 2s. IOJd., throo-tjuarter-bred lambs arc realising around 2s. Bd., Leicester lambs 2s. Sd., and Lincoln lambs 2s. 3d. These prices are not within a. penny of what similar wools wcro realising last series, and still thuy look tall figures. Sliped second crowbred lamb* arc selling around 2s. ljd., and here the figures are certainly biy. It is almost ■ certain that after this ecrio? there will be no more combing slipes available for some months, with the-" exception of a stray lot or two 6liped from the skins of sheep killed during the NewZealand winter, and no doubt buyers ltnow this fact and appreciate same. Summing up the course of the market, it is right to say that there is still a very sound situation, competition is good, and while values generally arc not at the extreme point of last series, yet some very good figures are being made. France is buying some of the best now clip merinos, this being a feature we have Jiot seen since the outbreak of war. It clearly indicates that more combing machinery is being got to work in France. Of course, America is doing nothing, Russia so far is very quiet, and aa far as - we can see, nothing is being done on behalf of any neutrals. '

Bradford Market. The market presents no new feature. Generally speaking, it is on tho quiet side, with only a retail business passing, chiefly in merino tops. Prices on tho wholo are steady, but, as indicated last week, it looks as if the highest level had been reached, and there is no anxiety lo buv extensively on forward account. There is some talk of the Government

taking over tops, but, while that is hardly likely, no doubt a move is being made in certain quarters which it i 3 somewhat difficult, to understand. Last week tops were commandeered on tlio basis of is. 6d. for super (Wis, 4s. 2d. for 58's, and 3s. lOd. for 56V, owing, if is understood, to spinners engaged on Government account urgently wanting these in order to meet military requirements. There is further talk of"other qualities being commandeered, and Government prices apparently are sensibly below I'lioso current in the onen market. This martot is a litllo upset, and there is. soma lack of confidence on account of the market boing disturbed by Government interference. At. the same time ss. lid. has been made for a good Ws. Crossbrccls are nominally steady without much business.

SYDNEY ROYAL SHOW RECORD ENTRIES. (Rec. March 13, 5.5 p.m.) Sydney, March 1". There aro ten thousand entries for the show, this being a record.. BUTTER-FAT TAX DAIRY COMPANIES PROTEST. By Telegraph.—Pi.;ss Association. Carterton, March 17. At a meeting of dairy company representatives, held at Carterton today.-- the following resolution was unanimously passed:—"Thai tMs'meeting of delegates representing tlio dairy industry in the Wairarapa and Bush Districts strongly protests against a continuance of tho butter-fat tax of Jd. per lb., seeing that the prices now being realised for butter on tho British markets will return a price for bnttorfat considerably in excess of the prices that will be returned to cheeso factories on tho price being paid by the, Government, and that all milk suppliers he strongly urged to bring pressure to bear on members of Parliament for their respective districts, .not only to have tho tax discontinued, but to have amounts already paid by dairy companies refunded." MEAT WORKERS' CONFERENCE

I Mr. Anthony Ogden. who is visiting New Zealand in an endeavour to amalgamate existing unions in tlio meat industry, has now visited all tho meat' centres in New Zealand, and is paying a second visit to some of the northern works. The conference of meat trade workers will open iu Wellington on March 27. The business of this conference will he to discuss amalgamation with a view to linking up all tho present unions. Tho basis of representation will be ono slaughterman, ono freezing worker, and one fellmonger from each district. _ Several districts have appointed their representatives.