The Wool Market

Feilding Star, Volume XV, Issue 55, 2 September 1893, Page 3

The Wool Market

Messrs Barraud and Abraham are in receipt of adyice from their London agents, Messrs K. T. Turnbull and Co, ; dated London, July 21st. a« follows :— I The earlier portion of the auctions re» i fleeted very distinctly the influence of . the untownrd circumstauees nnder ! which they opened, aud, notwithstanding ; an already very low range of values and a relatively favorable statistical position. prices, with few exceptions, receded from the level oF the closing rates of the preceding public sales by nbont 5 to 10 per cent. The Home trade which had operated in April and Mny comparatively spuringly availed themselves with considerable freedom of the opportunity afforded by the fall iv values lo replenish their stocks aud to anticipate to some extent future requirements, but i< was not till nearly one-half of the produce dealt with had passed the hammer that the foreign buyers relaxed their attitude of reserve and thereby induced a rather harder and more confident tone in com* petition and in some instances a sensible recovery of depreciation. The dim* culties which have ensued in the United States upon the Legislature tampering with the currency have been severely felt in every department of American industry. »nd have deprived our market of its usual support from that quarter, besides causing the redirection to London of staple pre»iously acquired for transAtlantic consumption As compared with the closing prices of the previous series, we now quote :— Crossbred grease, fine. Id per lb lower; crossbred cr-ase, medium, -id per lb lower; crossbred grease, coarse, jd to Jd per 11. lower ; crossbred, washed and scoured, „d to Id