The Wool Market.

Feilding Star, Volume XVII, Issue 92, 15 October 1895, Page 2

The Wool Market.

(Per Press Association.) London, October 18. The wool sales closed firm at opening rates. Faulty scoured merinos and finer crossbreds declined £d this week. The Cape and America took 5,000. It is expected that about 180,000 bales will be available for November. The total number catalogued was 225,000 of which 94,000 were sold for export and 123,000 of the Home trade. Ten thousand bales are held over. The N.Z.L. and M.A. Company have received the following advice from their London office dated 4th September, 1895 :— Be.yond noting the steady continuance of consumption indicated in reports f roiri the Home and Foreign manufacturing centres, little of fresh interest I has occurred in our own market during the past week. A certain amount of in- j quiry still prevails particularly on Continental account, and private sales since i the late auctions are now estimated to reach some 2000 bales - say 1300 Australasian and 700 South African. From recent advices it is evident the domestic clip of the United States is considerably smaller than that of the foregoing season, one trustworthy estimate placing the shrinkage at from 30 to 40 per cent. This short fall, coupled with a strong and steady wool market augurs well for a fair maintenance of support from America in the near future. The arrivals to date for the fifth series of sales which opens on the 24th inst are 233,353 bales of which 57,000 bales (23,000 Australalasian and 34,000 South African) have been forwarded to the manufacturing districts. In addition to the shrinkage in the American supply referred to above advices from Australia state there will be a heavy shrinkage there consequent upon the drought, and the New Zealand clip will probably bo short as a result of the heavy snowstorms in the winter, so that everything points to prices being maintained. Our cable advices from London indicate that at the sales now progressing good clean well-grown crossbred wool is fetching lid per lb.