London Colonial Wool Report

Feilding Star, Volume XIV, Issue 119, 28 March 1893, Page 2

London Colonial Wool Report

Messrs Barraud & Abraham received by the San Francisco Mail the following report from their London agents, Messrs E. T Turnbull & Co., dated February 16 :— On the opening day of the auctions, prices for Australasian wools were quoted on a par with* December closing rates, but Capes ruled about 3 per cent lower. During the progress of the sales considerable irregularities occurred at times, but no very decided alteration in values took place. The tendency as respects good to superior Australian merino greasy parcels was upon the whole in favour of sellers, largely in consequence of American competition. Deep, strong crossbreds of good lustre not nnfrequently realized an advantage of \d per Ib. Merino scoured wools (other shan locks and pieces, which were firm as the result of scarcity) showed weakness during the first ten days, but recovered to a slight extent in the latter half of the senes. Merino lambs, free and of good character, enjoyed a brisk demand throughout-, at steadily hardening rates, superior Western Victoria qualities realizing higher prices than have beon witnessed for some years past. On the other hand, greasy merino fleece wools of fine quality but shortest growth, at and below Sd per lb, fell away appreciably towards the middle of the sales, and closed from £d to rjd per lb below opening rates. Suparior hot water washed Port Phillip fleeces were not in good demand and realized relatively low prices. The decline of jd to £d per lb in the value of Cape and Natal greasy witnessed at the outset, continued throughout the series. The general run of snow white and country scoured, however, which were in limited supply, soon regained the ground lost, only Western Cape snow whites closing below the fiual level of December. Fleece washed likewise improved and must be quoted on a par with the same period. As compared with the end of the sth series of 1892, final values may be quoted as follows, descriptions of which no mention is made remaining without alteration : — Australian merino greasy, well grown, shafty and light conditioned, Jd to Id per lb higher ; Australian merino greasy, short and faulty, \d to Jd per lb lower; Australian merino clothing scoured (fleece wool), id to Id per lb lower ; Australian merino clothing Fcoured, pieces and locks, fully +d per lb higher. Greasy crossbreds, irregular and coarse, |d to -?,d per lb lower, blip crossbreds, M perlb higher. Australian merino greasy lambs, fine und free from fault, Id to 2d per lb higher ; Australian merino greasy lambs, good, but rather faulty, Ad to Id per lb higher ; Australian merino greasy lambs, interior and faulty, par to Ad per lb higher ; Australian merino scoured lambs, Ad to lid higher. Cape Western snow white, /,d per lb lower. Cape and Natal greasy, jd to £d per lb lower. The quantity actually sold is, of course, not ascertainable until the end of the sales, but may be estimated at 256,000 bales. Of these about 150,000 bales would be taken for the Continent, &c, and fully 20,000 bales for America. It is estimated that 30,000 bales will be carried over until the nest series, fixed to commence on the Ist April.