The Wool Market.

Feilding Star, Volume XVI, Issue 46, 20 August 1894, Page 2

The Wool Market.

Messrs It. T. Turnbull and Co., London, agents of Messrs Barraudnnd Abraliam, report under date of July 13th :— Wool. — Towards the close of the interval between the third and fourth series of the Colonial wool sales the situation improved. With the good prospects of the agricultural interests i at Home and on the Continent of Europe, and the near approach of the American Tariff settlement, came inquiries for wool at rather better prices than during the May series. Some 3000 bales were disposed of, and that quantity would probably have been greater but for the firmness of holders, in view of the sales fixed for the 3rd instant, upon which date the fourth series of the current year began. The better tone existing affected bidding from the commencement, and prices opened at up to 5 per cent, above the preceding sales, with, however, some irregularity. As the sales progressed, and buyers settled down, the improvement asserted itself— chiefly in medium wools (which had fallen in value at the May sales), some of which have advanced as much as 7b per cent. Generally speaking, the position may be taken to be from 5 to 7£ per cent, above the level of last sales for greasy merinos all round, with lambs practically unchanged. Super scoured merinos are very firm, and medium and j short have recovered £d to a penny per lb. Up to the present a large portion of the offering has been of crossbred descriptions, and these continue to meet good competition — those which ruled below 8d in May being about \d per lb hotter, and bright and coarse and long kinds id to $d up, while the finer qualities are very firm ; poor quality parcels, which are pretty numerous, cannot be said to have shown any improvement. The attendance is a full one, and demand is good from Home and Continental buyers. A little baa been bought for America, but the conditions there are not yet favourable enough for business of any volume to be put through ; and — until the serious business and labour difficulties existing in the United States have been overcome, and the effects of the new tariff (when it actually becomes law) felt — we cannot hope to see a large and good trade done for American account. That the improvement is small and well maintained is considered a surer omen for better markets bye and bye than if a sharp and sudden rise bad taken place, with the danger of rebound. The total available for the current series amounted to about 249,000 ! bales, after private sales, of which there have been catalogued already, including yesterday's auction, 185,159 bales ; 7188 bales ot these have been bought in. The list at present is arranged to close on 30th current, but i there will probably be a curtailment of the sales, as a considerable quantity of wool is likely to be withdrawn and held over for September.