London Wool Report

Feilding Star, 17 June 1893, Page 2

London Wool Report

Messrs Barraud and Abrahams have just received from their London Agents Messrs R. T. Turnbull and Co., the following report dated 12th May last : — The second series of wool sales terminated on the 3rd of May, and although tbe promise of the first fortnight has not been fully realized in every class, there has been no severe fluctuation ; the feeling at the close was encouraging, as re. gards the position of the raw material and the industries dependent on it. About 336,000 bales changed hands, 60% being bought for export. There was brisk competition throughout, the heaviest buying was for the French account, while the Germans did not stand aloof. American buyers only took about 5000 bales at these sales, about one fourth tbe quantity they bought at the first series, and the classes they favour most suffered in consequence. Crossbreds of all descriptions, and medium and low merinos snowed 7^% to 10% advance. Fair and medium greasy merinos have risen from 5% to 74% ; the better classes of second merinos and lambs are from par to 5% up, while the best combing greasy merinos are about 5% below February rates. Prospects as to coming clips may be considered good. River Plate wool is sure to be in smaller supply, the shortage beiug estimated at from 20,000 to 50,000 bales, and arrivals from Australia and New Zealand are not likely to be abnormally increased. Stocks in consumers' hands are known to be left, and the staple is still on a cheap level. The next series is fixed to begin on tbe 20th June.