The Wool Markets.

Feilding Star, Volume XVII, Issue 181, 4 February 1896, Page 2

The Wool Markets.

The London agents of the Bank of Zealand report as follows by the last Frisco Mail under date, London, 24th December, 1895 : — Wool. — The sixth and concluding series of Colonial wool sales for this year terminated on 11th December. The net quantity available was about 170,600 bales, of which 164,400 bales were catalogued. Of these about 150,---000 bales were sold, viz. :— 80,000 for the Continent ; 58,000 for the Home trade ; aud 12,000 for America. The attendance of buyers was well maintained throughout the series, and competition was, on the whole, satisfactory. Owing to a slight depression whidi had prevailed in the manufacturing centres during the interval between the close of the last series and the opening of the sixth series, and the somewhat unsettled state of the " top " markets in France, it was a welcome relief to the trade generally when the sales commenced with such good promise. During the the first few days there appeared to be a certain want of confidence among the buyers, but when it became evident that wool was required by the various sections of the trade represented on this market, prices soon hardened up for most classes of produce. All the better descriptions of wool were in good , demand, and fetched prices quite on a par with previous sales' rates. Crossbreds met with a good demand at the opening, but as tbe sales proceeded they gradually lost ground, and at the close values of ordinary qualities were 5 to 10 per cent below October quotations. Light lustrous areasy and superior scoured, however, maintained their positions. Sliped wools met with irregular demand and showed a decline of about £d per lb, on October rates. Medium fine and short wasty descriptions showed the greatest depreciation. The report from New Zealand quoting lower values there are partly blamed for a decline. But it is also said that crossbred wool is Dot likely to be so much in request in tbe near future as hitherto, owing, it is asserted, to the coming change in the fashions. The same rumour was current here last year, but nothing came of it. Nevertheless it may be admitted that the fashions of late have benefited coarser grades to much greater extent than tbe finer sorts of wool, and that a change will doubtless come sooner or later. There is still a steady consumption going on in the Manufacturing Districts, but it is said that fresh orders are not coming in so freely from America as they did some months ago. Until the currency question is definitely settled in the United States it is to be feared that the trade in that quarter of the world will remain>jnvery unsatisfactory condition, and the latest political and financial developments will doubtless still further aggravate the situation. Owing to their monetary troubles it is believed in some quarters that raw wool as well as other artioles imported into the United States will again be subjected to a duty in the near future.