The Wool Market.

Feilding Star, Volume XVII, Issue 252, 29 April 1896, Page 2

The Wool Market.

** — The Bank of New Zealand's London agent reports by the last 'Frisco Mail dated (London, 18th March), 1896:— Wool — The second series of Colonial wool sales which commenced on 3rd March will, according to present arrangement, close ou 20tb March. The following are the particulars of the quantities of wool which were available for the sales. The totals for the corresponding series of last year are also given for the sake of comparison :— Available 2nd series, 1896 —206,300 j available 2nd series, 1895 —273,000. It will be seen from the above figures that the quantity to be dealt with at these sales is more than: 60,000 bales less tban last year. This shortage, which is mainly in Marino wool, was caused by the non-arrival of several sailers from Australia at the time expected 'in consequence of adverse winds. The series opened in a very satisfactory manner. The number of buyers present was very large, all quarters being fully represented except the United States, where the market is said tQ be quiet at present. All kind*? qf wqol met with a very animated competition— so uiuch 90 that it was sometimes difficult for tjie auctioneer tq keep control over tjie buyers in consequence qf t\\e excited manner in which they competed fop the lots. It will he remembered that towards the close qf the first series, cross-breda fell away about 5 per cent from the best prices ot that series. The ground then lost was immediately regained at the opening of tbe present auctions, and if anything- the tone haß been firmer as the sales progressed. They'

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will only continue a few days longer, and as far as can be seen they are likely to close a good 5 per cent better than at the end of the January 7 sales.;- •. ...... \ In regard to merino, the market for which , has been | gradually getting Stronger and stronger for some months past» both here and in manufacturing centres, prices may now be quoted quite 10 per cent above January levels. As already mentioned in a previous circular, the supply of this class of wool will show- a considerable falling off this year, but in addition to this the market at these sales has been materially helped by the proportionately smaller supply which came to hand for this particular series. One feature of the sales in regard to cross-bred wool has been the tendency to-level up values — i.e., the prices received for i the lower qualities are not nbw proportionately so far below the values of the better sorts, and it is rather poor wool which now fetches less than 8d per lb. The wools of this class which meet with most favour are the well-grown, lustrous lots of Lincoln character : but the finer grades, doubtless in sympathy with the enhanced values of merino, also meet with a better demand than i " for some time past. Scoureds and slipes are also selling j well, and both show an appreciation . of about 5 per cent. Lanibs' wool has j advanced about £d per lb. The catalogues have been so well cleared that the quantity to be carried over till next series must be small. It has been arranged by tbe Committee of the Colonial Wool Mer chants' Association that the next series will commence on 28th April, the list to be closed so soon as 325,000 bales gross shall bave arrived. The fourth series will open on 30th June, limit 375,000 bales, and the fifth on 22nd of September, without limit. I