London Wool Market

Feilding Star, Volume XV, Issue 40, 16 August 1893, Page 3

London Wool Market

Messrs Barrand ami Abraham, FeiMin£, have received by the last San Francisco mail, from their London Agents, Messrs 11. T. Turnbull and Co. the following report :-— Wool: The 3rd series of wool sales began on the '20th ult. with a fair attendance, and excepting for good crossbred wools, a general decline of about 5% took phco. On the second night when the offerings were chiefly New Zealand wools there was a brisker demand, the Home trade bidding freely, and a more cheerful tone prevailed, which was continued on the following evening, when French and Belgian huyers competed fairly well for the Sydney and Port Philip produce, which' formed the bulk of the day's catalogues. There has been no demand whatever for the United Stfttfis, with the natural result of a decline in price in those descriptions which suit American buyers. Since then, tho trado has been pretty well represented at tho sales, and the attendance continues good, but there has been considerable irregularity in values. Last week the tone rather unproved, and it is thought that as people begin to realize that wool is on a cbeap level at present, and that supplies in the near future are likelj to be on a moderate scale, we may see a turn for tho better before the current series, which is almost certain to be curtailed, closes. About 8% ot the quality catalogued has been withdrawn and a considerable portion of the arrivals have been held back for the next sales, but until confidence has been re- | stored and the tariff question in the United States lirs been settled, there is little change of any decided Tovival in trade. Meantime the competition at current prices is animated. Australian greasy Merinos are from par to 5% lower than at close of last sales, and scoured are $d to Id below May. The large supply of crossbred* has caused values to fall to about Id below the level of the previous aeries. Bradford reports are of firm markets and Continental consumers 6eeru to be well employed. Messrs Freeman R. Jack»on and Co.'s London agenls report under date London, July 7 —Wool— As the sales progress there is, unfortunately, no improvement to record in faluea The decline affects •11 lorts, and i* fully 6 per cent, below the lowest pnoos of last sales— in tbe shabbiest and most faulty sorts perhaps erm more. New Zealand crossbrods form a very large proportion of the offcrinjcn, and although there is a good demand, pncei are Terj inucb in buyers' fsTour. Tbe Home trade w very aclivc, lontincntal bujers being comparatirclj qniet, while United States of Americn competition is absent entirely.