The Wool Market.

Feilding Star, Volume XVIII, Issue 115, 13 November 1896, Page 2

The Wool Market.

(Per Press Association.) London, Nov. 12. At the Antwerp wool sales there is a large attendance, and competition is brisk at an advance of about 7 per cent, for River Plate and v percent, for lamb's wool, as compared with the September rates. Australian wool showed an advance of £d per 1b on the "last London rates, The total quantity sold was 1064 bales. The Bank of New Zealand's London agent reports under date London, 80th September : — Wool. — The fifth series of colonial wool sales for this year commenced here on 22ud September. There was a full attendance of buyers from all quarters except the United States. The competitiou at the opening although fairly brisk, showed in some cases considerable hesitancy, especially on the part of the continental buyers. All superior parcels of wool met with a good demand at about last series closing rates to 5 per ceut cheaper. Faulty descriptions of both merino and crossbred were less in request and they marked a decline of from 5 to 10 per cent on July quotations. Fine earthy cross-breds were especially weak and it is doubtful whether 10 per cent will cover the depreciation on some lots. All the coarser grades of cross bred, which are under the more satisfactory influence of the Home trade met with a fair amount of support and on an average the decline for superior parcels is hardly noticeable, but if anything prices are in buyers' favor. The lower and inferior qualities have, however, suffered ia value considerably, and are quite -gd per lb lower. SHped and scoured wools hav.e been well competed for at an average decline of 5 to 7-^ per cent., the finer qualities showing the greater depreciation. During the past few the tone has been perceptibly weaker, nnd some fears are felt lest the Horn" trade fails to sustain prices at their present level until the end. The market for merino wool is in a less satisfactory state than it is for crossbreds, inasmuch as the former depends to a greater extent upon the support of Continental houses than the latter. It is difticult to say whether the reserved attitude taken up by foreign buyers is actually attributable to the dulness of trade with them, or whether they are using their influence to depress values unnecessarily in order to weaken the markets in Australia where the new season's clip is now being sold. Whatever their reasons are, they have undoubtedly succeeded in lowering values very considerably here ' by their tactics, and as far as can be ! judged at present there are no reliable signs whatever that the existing state of depression is likely to be relieved for ' some time to come. If America had ' been able to come to the assistance of the market the position might have been quite different, but there are no indications that she will buy coloniol wool until after the Presidential election, even if then. I