LONDON WOOL, SALES.

Gisborne Times, Volume XXVI, Issue 2348, 14 November 1908, Page 2

LONDON WOOL, SALES.

A* GOOD START

PRICES UNCHANGED FOR BEST WOOLS. (FjBOM OCR SPECIAL CORRESPONDENT.] LONDON, Oct. 2. Once more wo are at the parting of the ways, all eyes being fixed upon Coleman Street, where,"last Tuesday, began the fifth series of : sales. Wliat, a big event it xs to woolgrowers throughout the world, and how niucii there is at stake. —lt it could be tabulated the amount of bread and butler it means' to those interested' in the industry, from the sheep to the wearer’s back, truly' the number would be legion. Wore than aisuai! interest surrounded the opening due, undoubtoclly, to the critical condition of affairs. The vacation had been marked by a fair amount of steadiness, values moving on strictly defined lines on a somewhat low basis. The difference in price between super 60’s top when the last series finished and at the opening last Tuesday is only id per lb., but that is in the wrong direction for woolgrowers. It cannot be said that the sePios opened with buyers iii fine feather, the contrast between to-day and a year ago being most marked. Nobody ever considered it possible to see the change wo have in the short space- of twelve months, and with values dropping, (he trade is in somewhat poor trim for the coming season. LARGE SUPPLIES.

There is ho' aspect of the trade today that is absorbing so much tention as that of supplies, and the tact of there being available no less than 255,000 bales seems to have taken the breath away of not a few. It is surprising to me what faint hearts there are in tho world. The large quantity in (London is not because oi any increase m production, but rather the lessened movement of ike clip. The trade to-day is as bare as boards in regard to stock, and all alike are going rrom hand to mouth in the liope of seeing values case, when they wild come in and buy liberally. London importers and* brokers have been subjected ;o some severe criticism for holding over considerable weights of material at the three previous series, but i hey had no other alternative unless they had sacrificed owner’s interests consderably. To have sold all the wool in hand would have meant still lower prices, and nobody could relish that.

In the following table I show the quantities available at the fifth series of auctions since this century dawned, giving the net quantity, and also the number of New Zealand bales helping to make the total: —

The catalogue was big for the opening day, comprising over 13,090 bales, mostly made up of medium wools, crossbreds predominating. Buyers from all quarters were in evidence, a very good contingent hailing lrom America. The opening was quiet, competition being tainy keen, but not of the excited character tnat we nave often seen. There were plenty of people for the wool, at a price, but liotjouy felt disposed to exceed their values, many have made up their minds what they are prepared to give, but they arc not going to pay more. The majority came to Coleman Street feeling -anything but confident, although few expected 1 to see any material drou except for siiabby descriptions. Home trade buyers were strongly in evidence from tne start, and tlie Continental section. proved to be good backers,. Between them they practically cleared tne deck, very few lots being suitable for America. When compared with the 1 close of the last series, the following' variations were seen : Good greasy merinos, no change; faulty greasy merinos, par to id decline ; good scoured merinos, par to 4d decline; faulty scoured merinos id decline; fine greasy crossbreds, mo c-nange; medium greasy crossbreds, no .change; coarse greasy crossbreds -id decline; sliped crossbreds, id decline; iambs, all qualities, no change; greasy Capes, par to id decline; scoured Capes, no change.

THE OUTLOOK

Messrs. H. Dawson-and Co., speaking about the outlook say: “It is nob surprising, after their recent heavy losses, that consumers are wishful to see easier prices, so that they may operate, with greater freedom on a lower and, therefore, safer level. On tho other hand, the fact cannot be too strongly emphasised that the industry as a whole is bare of raw material. The reserve of consumers has been so .marked l and so universal during the past year that with a moderate volume of new business or returning confidence there would doubtless be general and large replenishng of stocks. Meanwhile there are signs of improving demand from some of the Continental centres, while the position in the United States is decidedly better, and there is promise of a good American demand for wool during the coming season. The position ol : crossbreds is not nearly so weak as some had expected. The bulk of the greasy New, Zealand crossbreds for the year have now arrived, and when the largo. proportion of talipes and scoureds and merinos is considered, together with the prospects of the United States demand for medium crossbreds, the aspect .of things is considerably changed. It does not look as though there would be too many greasy cross-bred wools for the requirements of the trade during the interval prior to tho arrival of the new clip, wools in January next.” Since the commencement the sales have progressed with very good spirit, but no improvement' oii opening rates can be reported. There is a willingness on the part of brokers to meet buyers, and) it is hoped that prices wild remain steady. There is a fairly good'inquiry, but at the present time nobody can reasonably expect to see "any advance. AVej shp.ll do well to see the opening rates m amt pined. to the finish* .

Sold by Messrs Buxton, Ronald, and Go., September 29—Glenroa Grey. 14 A crsbcl Of ;. 2S 13 do s|; 13 J do O2 ; 2 A ersbd pcs 4’ ; 3 B do, do ; 4 do bellies 4,f; 2 do, do 8; 5 iambs oi-. 30’s to 46’S, fair, gool length, a little skir.ty, but good topmakers’ wool.

Sold by Messrs Charles Balni and Go., same day.—Hill Springs: Grse. 7 sup. i-bred AV 94; 12 do, do E 9;10 Ist -A-bd com. H 8-A ; 13 2nd do, do 8; 14 do, do AVA 8J; 28 do, do EA 81; 15 do WB 8; 5 do, .do EB 74. Good wools, soft, sound, good character, well classed.

A WAITING GAME.

COURSE OF PRICES

(.From Our Special Correspondent.]

BRADFORD, Oct. 2

With the opening of the London sales this week interest centres, around Coleman Street, Bradford simply waiting to see how things move. The following table-shows the full course of priceT during the past

32’s ’ „ „ 9 9 9 8]

Net totals. New • Zealand Year Bales Bales 1908 204,000 114,000 190 7 96,000 32.000 1900 102,000 02,400 1900 88,000 43,000 190-1 90,000 43.000 1908 108,000 79,000 1902 192,000 110,000 1901 804,000 123,900 1900 800,000 122.400 A DECENT BEGINNING.

month — Sept. Sept. Sept. Sept. 3. 10. 17. 21, ■d. d. d. d. Lincoln Logs 81 84 81 Si ,, wethers 7 7 i Os North hogs 104 101 10i 104 ,, wethers 8i Si 8i 84 Yorkshire hogs 91 91 94 94 ,, wethers Ti 71 71 7 i "■ Hall bred hogs 9 9 9 9 ,, wethers S 8 8 8 Kent wethers Sri Si84 Eastern Counties Down tegs 10 10 10 10 E. C. D. wethers 91 94 94 94 Irish hogs, super 9* 91 91 94 wethers, supei 9 9 9 9 Pick Shropshire hogs 10:V 10:i 10.4 104 •do wethers n n 91 91 Southdown tegs m I3i 13 2 134 • ,, ewes m 124 12 J 124 Wiltshire Down tegs 12 12 12 12 j >. n es HI 11 i 114 114 Cheviot hogs. super 10 10 10 10 idcotch Blackfaced 5 5 ■ 5 5 Turkey average moha ir 151 16 10 16 Cape 1st mohair 12 12 12 12 . 70’s Colonial tops 244 211 2-11 24 fit’s ,, 231 231 231 23 60’s ,, super 221 22i 224 22 GG’s ,, ,, 181 181181 '184 - 50’s ,, „ 1G1 1-31 1G4 1G 46's ,, 12 i 121124 12 dO’s }> 10i 10i 104 10 36’s ' „ ,, 91 91 94 94