London Wool Markets

Feilding Star, Volume XIV, Issue 142, 20 May 1893, Page 2

London Wool Markets

Messrs Barraud and Abraham hare re ceived the following wool circular from their London agents (U. T. Turnbull and Co.) by the 'Frisco mail to day : — WOOL — The second series of tho year's sales commenced on th« sth inst., and will probably close on the Bid or 4th prox. The imports for this year, up to date, are nearly 50,000 bales less than up to sth April last year. There was a capital attendance on the first day, which keeps up; competition has been active and keen. French buyers have been especially busy and a good proportion of what has passed the hammer has been taken on German account. Purchases for Home trade have rather increased since the opening of the sales, while the Americans, who bought fair quantities of the better grades of Merinos at the commencement cf the year, have, so far, not been bidding to any great extent. Generally speaking, the favoured descriptions have been the lower classes of Merinos both scoured and greasy (excepting greasy South and West Australian, which have scarcely maintained February's level) and Crossbreds of all grades. The lower Merinos have advanced, ou the average, 10 per cent above February levels, while the better sorts are not more than 5 per cent higher. The fashion is running on Crossbreds, which are in active demand and mark an improvement of 5 to 10 per cent for jjroasy, but scoured have not advanced quite in proportion. Merino lambs have not changed much — competition for Crossed qualities however has raised them about $3. per Ib. The woollen industries both at Home and abroad had been reported well employed — and the scant stocks in secondhands made an improved competition at this series certain : although, so far, the spirit of the first two days has been fairly well maintained, it is difficult to say whether it will last throughout the current sales. It is satisfactory to note however that the brisk bidding at the outset did not un duly excito and elevate the market.