The Wool Market.

Feilding Star, Volume XVII, Issue 139, 11 December 1895, Page 2

The Wool Market.

SPIRITED BIDDING AT HIGH PRICES. (Per Press Association.) London, Dec. 9. At the wool sales there was spirited bidding at highest prices. Timaru. Dec. 10. The first wool sale was held to-day, ' when 2800 bales were catalogued. Com- | pared with last year's opening rates, the , prices realised showed an all-round vise of l|d to Ifd. Half-bred brought to 8-Jd ; threeqaarter-bred, Bid ; crossbred BJd ; merino, 7d; Leicester and Lincoln 7d ; rams and matted, 7£d ; pieces, s£d. The London agent of tbe Bank of New Zealand reports, under date of London, 31st October, 1895 : — The fifth series of Colonial wool sales, which opened here on September 24th, closed on October 12th. The total quantity available was about 224,500 bales. Of these about 214,500 bales were sold : 120,500 for ! Home consumption, 89,000 for tbe Coni tinent, and 5,000 for America, leaving 10,000 to be carried over till the final series of the year which commences on November 26th. Of this quantity held over about 3,500 represent Anstralasian produce (including 2,200 New Zealand), the rest being South African wool. The attendance of Eeropean buyers, from the J beginning to the end of the series, was large and fully representative, but American interests were poorly represented. On the surface it seems rather strange that the American buyers, who helped so conspicuously to sustain our market during the fourth series, and at which they bought about 60,000 bales, should at the fifth series reduce the purchases to the small quantity of 5,000 bales. In explanation of this it would appear that prior to tbe July sales they were under the belief that a larger share of the trade of the United States would go into the hands of their own manufacturers than ultimately proved to be the case Bradford having secured the lion's share of it— they over-purchased during the July sales. The result is that they now find they have more Colonial wool in hand than is necessary for their immediate requirements. This proves, once more, the spasmodic and unreliable nature of the American demand upon our market. From the date of last report up to the close of tbe sales the tone of the market varied but little from that of the first week. As time went on buyers became more discriminating in their biddings, and the basis of values of the different descriptions of wool became more defined. Crossbreds of good growth and lustre, and ebaf ty merinos remained in great favor, but wools of shorter growth, including some parcels of fine wasty half-breds, met with a slower sale, and in some cases fell away to the extent of to |d per lb towards the close of the auctions. Lambs' wool and sliped wools continued in good demand throughout the series, and showed an appreciation of Id to l£d per lb on July rates. The principal feature of the series was the extraordinary briskness of competition for wools of Lincoln quality. According to latest reports from Bradford these wools are still eagerly enquired for. Other growths, however, are not for the moment quite so firmly held as they wore, but, as far as can be seen, there is no reason to anticipate that prices will fall away to any material extent for some time to come. Tbe bulk of the wool to be offered, during the November-December sales will consist of the new season's clip from Australia, which will soon be arriving in large quantities. Up till the present only 55,900 bales have come to hand, includ-

ing about 9,600 bales New Zealand.