WOOL REPORT.

Gisborne Times, Volume VI, Issue 196, 26 August 1901, Page 1

WOOL REPORT.

Under date of London, July 4th, Messrs Dalgety and Co. report : The fourth series of colonial wool sales for the current year opened on the 2nd inst., the quantity of bales available being, according to estimates, as follows :

Victoria, 86,307 fresh arrivals, ‘25,000 forivardecl elsewhere, 4,600 old stock, 65,900 net available ; New South Wales, 91,527, 22,500, 11,000, 80,000; Queensland, 16,165, tralia, 13,980, 1000, 3,500, 16,500 ; West Australia, 3,943, 3,900 ; Tasmania, 20,228, 88,715, 7000, 19,000, 100,700; Australasia, 320,865, 55,500, 39,700, 305,000 ; S outh African, 39,479, 25,500, 7000, 21,000 ; total, 360,344, 81,000, 46,700, 326,000. There was a fair attendance both of Home and foreign buyers, a few Americans being also present, but the selection was so poor, consisting chiefly of crossbreds and the lower grades of Merinos, that biddings were very languid and hesitating, and although admitting that they required Merino wools, foreign buyers hung back aud the rosult was that an average drop was reported on Merinos of 5 per cent., some even going so far as to call it 71- per cent. As to crossbreds there was not much difference of opinion ; the finer descriptions of greasies were down about 71 per cent, and medium and coarse 10 per cent., the mediums in many cases suffering most. Medium and coarse scoured crossbreds and all kinds of slipo wool showed a drop of 10 to 15 per cent. Lambs’ wool of all kinds in, poor demand, and generally 10 per cent, lower poor, short stapled, faulty lots being almost unsaleable. On Wednesday a good representative selection was offered, comprising some good flocks of Western Victorian and Tasmanian greasies, for which there was keen competion in which American buyers joined, and for these as well as for most of the fair runs of Greasy Merinos we could detect but little difference from closing rates of last series. For faulty Merinos, especially the lower grades of scoured, the tendency was still somewhat in buyers’ favor, though only slightly so, and various lots bought in during the May sales actually realised an advance. Cross-breds showed no improvement in values, but there was less hesitation in the bidding. To-day the better tone still continues, and we trust that we may now look upon prices as being established on a firm basis, though many buyers still complain of the crippled state of the trade through the losses last year, and the consequent difficulty of purchasing heavy quantities. We fancy, however, that this is now becoming rather a cry for depressing values, and trust it is in any case exaggerated.