The Gisborne Times PUBLISHED EVERY MORNING. GISBORNE, JAN. 12 1906 WOOL SALES.

Gisborne Times, Volume XIX, Issue 1646, 12 January 1906, Page 2

The Gisborne Times PUBLISHED EVERY MORNING. GISBORNE, JAN. 12 1906 WOOL SALES.

In this district a great deal of interest is naturally taken in the trend of prices on tho wool market, a change in prices either upwards or downwards having a material effect on tho state of commerce. It has been hinted in the cablegrams lately that reports of dull sales in tho colonies have been having a significant effect on the Home market, but there is good reason

to hope that little spasmodic change; arc not likely to affect the health] tone of the chief markets. The Christ’ church Press, usually well informed on the condition of the wool market, a few days ago gave an article on the subject, from which wo quote fully. The sales in Australia (states the Press) up to the close of the jmar totalled about 550,000 bales, or 150,000 bales moro than last year, when the effects of the long drought had not passed away. A downward movement in prices would no doubt have taken place had it not been for the remarkable bareness of the market at Home. Stocks were probably never so low before as they were last year, and it is a question whether even the greatly increased clip in Australia will do more than fill requirements. At all events

tho Australian sales closed so stroDgly before the holidays as to indicate that buyers have great confidence in the future course of the market, and their transactions in merino wool at yesterday’s sale reflected this confidence. One reason for the belief in the maintenance of good prices for the rest of the season lies in the fact that the only addition to ordinary supplies to meet an extraordinary demand is the increased production in Australia, estimated to amount altogether to a quarter of a million bales. New Zealand’s wool export will probably show a slight growth, but on the other hand tho Argentine clip is likely to bo quito

5 por cent less than Inst j'enr. The exceptionally good prices roalisod by tho fanners and pnstornlists are all tho more wolcomo ns tlioy will componsato for the lowor prices for fat lambs this season. 'J ho market for these opened decidodly lowor than last year, a circumstance which may bo attributed to Australia’s recovery from tlio drought, ior it is estimated that tho lamb export from tho Commonwealth this season will amount to fully a million carcasos. Such competition might bo expected to affect the market, and has evidently done so. llioro is some reason for hope that prices may improvo later on, but Australia has now to bo reckoned with as a strong competitor with New Zealand in a market which this colony practically created, and of which she has hitherto been the largest and best supplier.