WOOL MARKET.

Globe, Volume XXII, Issue 2097, 12 November 1880, Page 3

WOOL MARKET.

We take the following from the “ New Zealand Loan and Mercantile Agency Company’s Circular” of September 21th The third series of sales which was in progress at date ef onr last issue by this route will be closed to-morrow, 25th instant, thus occupying thirty-five sittings, Inclusive of this evening’s catalogue, 285,373 bales have been offered in the following proportions, viz. Bales. Now South Wales and Queensland 82,424 Victoria 60,590 South Australia 14,375 Tasmania ... ... ... 14,437 Western Australia 721 New Zealand 81,385 Capo of Good Hope 41,416 Total 285,378 To-morrow’s catalogues will comprise about 6200 bales. It is computed that of the total available upwards of 35,000 bales have either been bought in or are held for future disposal. Of these about 30 per cent, represent Cape produce. More than one-half of the total sales has been made for export. During the past four weeks' great steadiness has characterised the daily auctions, and the competition of foreign buyers has sensibly increased. The effect of this has been not only that the initial decline in prices has been recovered in nearly all classes of Australasian wools, but that in the case of good combing shaf ty merino sorts and the finer grades of crossbred, the level current at the close of the second series has been exceeded by about £d to Id per lb. Lambs’ wool, unless well-grown and free from fault, has proved an exception to the general advance, although it is going into consumption somewhat I more freely than during the earlier weeks of the sales. Fine clothing fleece descriptions have sold relatively more cheaply than combing sorts. The large supplies of faulty scoured wools have failed to command the attention which they did when less fully represented throughout the second series. Although at the close they mark a distinct improvement they are by no means quotably dearer than they were in June. The very moderate values of coarse wools have recently induced both home and foreign operators to compete for them, and during the latter part of the series buyers have been obliged to snbmit to on advance of Id per lb from the lowest point, in order to meet their requirements for such descriptions. It cannot be otherwise than satisfactory alike to buyers and sellers that the sales should close firmly. Just as the untoward opening produced for the time being a bad effect at the various centres ef consumption both on the continent and in this country, so the firm attitude exhibited at the close will at once be favorably reflected throughout the manufacturing districts. There is no doubt bnt that the fairly good harvests, now nearly all gathered, both at home and on the European continent, have gradually assisted in the hardening of prices recently witnessed, and should this favorable reaction in the raw material, be followed by a corresponding improvement in the demand for woollen materials, it seems reasonable to conclude that the fourth series will open on 23rd November, on a par with rates now current, even if no material advance thereon be then secured. Various estimates have been made as to the probable quantity of new-clip Australian wool which will be available for sale during the fourth series. Of these no very accurate data can meanwhile be obtained, but it is probable that even if 20,000 to 25,000 bales be shipped, a proportion will pass direct into consumption, and will not therefore find a place in the London sale catalogues. Should the new clip be as in past years very meagrely represented, it is not likely the the French section of the trade will assemble in large numbers, butif on the contrary, an abnormal supply of new wool be included in the next sales, the foreign element will prove to be a more important factor in the saleroom than is usually the case in the fourth series. The arrivals to date for same are as follow: — Bales. New South Wales and Queensland ... ... ... ... 4,590 Victoria 5,251 South Australia 1,044 Tasmania 144 Western Australia ... ... 200 New Zealand ... ... ... 9,705 Cape ef Good Hope 16,536 Total 37,470