The Wool Market.

Feilding Star, Volume XVII, Issue 160, 9 January 1896, Page 2

The Wool Market.

o— The London agents of the Bank of New Zealand report, under date, London November 28th: — The sixth and final series of colonial wool sales of this year opened here on the 26th November. There was a good muster of buyers present, and competion was satisfactory in every way and revealed a spirit of confidence. The selection offered on the opening day was not by any means representative in character, the bulk of the lots being of poor quality. The result of the sales showed that merinos were about 5 per cent below last sales' prices, while crossbreds remained at about previous rates. Scoured wools showed less firmness and fell away about £d perlb. The general impression is that prices will gradually harden up as the sales proceed, assisted by the better class of wool which will appear in future catalogues. During the interval since the close of the fifth series the market in this country has been quiet. The lower prices which were reported from Australia daring the recent wool sales tnere resulted in producing a slight reaction in the manufacturing districts in this country, and it was at one time feared that the consequences would reflect seriously upon our market when these sales came on. The position of the trade in this country at present is, how. ever, too strong to permit " bear " or other influences to depress prices at our sales. Wool is wanted by manufacturers to satisfy actual orders on hand, and they are quite prepared to pay a reasonable price for what they require. The Continental speculators who have had their innings at the Australian sale^, 1 and who appear to have 'successfully manipulated the market 4 there to theit own advantage'/ wilf, it is to be liopedj receive small eucqaragefn.c'xit here. " Thd geueral opinion igthat $hp ipdflstry js in every respect sound and tba c.qt{ap£ enc6t}ragisg. All the. wqols sent hojna by the fojlpwing ships will be available] for the present au.ction.B, vi?., Star of Victoria, Tainqi, Forfarshire, Buteshire, Buahtne, Mamari, Gothic, Eajnoob F jrth of Dprnoob. Himalaya, Tongariro!