THE WOOL TRADE.

Gisborne Times, Volume XXV, Issue 2191, 21 September 1907, Page 4 (Supplement)

THE WOOL TRADE.

THE SEASON’S PROSPECTS. (Australasian, Sept. 7.)' iShoaring is now in full swing in tho northern States, '.and wools from tho Itiverina and Darling districts of Now South Wales, also from Queensland, are arriving freely in this centre. The Itiverina and Queensland wools so far examined are of excellent color and quality, while though lighter in the grease than last season, they aro certainly not so long and bulky. In short, the wool is good, but more fleeces aro .required to fill a bale than last year, which, after all, was to be expeoted in Itiverina and other districts of New South Wales, whore tho season has been a very adverse one, while of all the sheep so far shorn .in the Commonwealth very few have had anything like twelve (months’ growth of wool on. The most live question in the trade .at present is what will the increase in this year’s clip amount to, or will there be any increase at all? Most pastoralists say there will bo less wool than last year, because the sheep, more especially in Itiverina, are cutting lib per head less wool .than at last shearing. Wool-buyers think that there will be over 100,000 bales more wool than last year, because there are so many more sheep to shear; and, besides, thoy prefer to over-estimate rather than under-esti-mate the clip. Most of the wool-broking-houses, who, after all, are in the best position to gauge supplies, estimate that there will be some increase in the Australasian production as compared with that of the year 1906-7, but that the same will he counterbalanced by the decrease from North and South America and some of the European countries, which latter produce less and less wool each succeeding year. One thing is certain, and that is that there will mot he (any surfeit of supplies for a very considerable time; and, 'as trade continues on a satisfactory basis, there is not likely to he any serious depreciation in the value of the finer grades of wool this year. Cables just to hand from London are most satisfactory reading,.for not only do they refer to the excellent prospects of wool generally, but to the fact that good lustrous coarse crossbreds have recently advanced in value on account of immediate American requirements. Buyers are arriving in Australia by almost every steamer, and seem ito be far more optimistic as regards the maintenance of values than is usually the case. One and all refer to the bareness of stocks, and ithe faot that practically every wool-user in the world will be represented at the colonial sales this season, for as they remark, “We must come here to obtain supplies, and it suits us to ship direct to port nearest to mill for which we buy.”

The regular selling season will open in Melbourne on the 7th of October, by which time all the buyers will have arrived, and the market he well established by the lidding of important

sales in Adelaide, Sydney, and Brisbane on (the 26th September, 30th September, and 13th September respectively. There will be Sufficient wool an 6tore to admit of large and attractive catalogues being submitted at the opening sales, and as buyers are hungry for new clip wools, both for immediate use and (testing purposes, the earlier sales may possibly be tli e briskest of the season. At all events prospects are very encouraging, and growers who hold wool or speculate (by shipping to distant markets eta-nd a greater chance of losing than of gaining.