LONDON WOOL REPORT.-JUNE, 1861.

Hawke's Bay Times, Volume I, Issue 9, 30 August 1861, Page 2

LONDON WOOL REPORT.-JUNE, 1861.

The May-Juno sales closed on the 6th Juno, with the same firmness and spirit manifested at the opening, and for good and fine flocks from all ports the competition was more keen towards the close, while on middle and faulty parcels the buyers had the advantage. It is remarkable that, notwithstanding the dullness throughout the Jfortli, prices should have been supported to the average of February-March ; but for this we are entirely indebted to the active competition and large purchases for continual accounts. The number of bales taken by exporters is computed at fully 33,000 bales. Had prices depended entirely on home buyers, no doubt a declension would have taken place to the extent of 2d. or 3d. per lb„ but as the London market was the focus for all competition, the large quantity submitted attracting buyers from all parts of the world, the advantage is at once apparent of so central a market, and although our buyers were not prepared to pay the high' rates current for their anticipated requirements, to their active competition to a certain price arc we indebted for so even and satisfactory a sale.

The arrivals for July already reach 40,000 bales, and with ships expected, may probably run up the quantity to 90,000 bales.

As to the probable range of prices then to bo established, much depends on the prospects of the harvest and money market; but the general feeling is that except for middle and faulty wools no decline will take place ; but this depends on continental buyers continuing their operations on the same extensive scale ; should they, however, have taken the bulk of their requirements, it is proba*blc that homo buyers would do better and be enabled to establish a decline of ltd. per lb., at which the dealers will, no doubt, be free buyers. The dullness at Bradford, which has caused so serious a fall in the new clip of the home growth, averaging fully 3d. to 7d. per lb., has produced some flatness in that market, and it rather confirms the opinion that a decline in wool generally is likely to take place when the great sales of the year commence.

Prices of New Zealand wool: —superior flocks in best condition, Is. lOd. to 2s. Old. ; Average to good in fair condition, Is. 6d. to is lOd.; Orel. and ill-conditioned, Is. 4d. to Is. G.: Fair and handwashed skin, Is. 4d. to Is. 9d.; Inferior & Kempy, Is. Od. to Is. 4d.; Lambs’, good, Is. 7d. to Is. 9d ; Lambs’, inferior to average, Is. sd. to Is. 7d.; Broken Locks. &c.. Os. 9d. to Is. 2d.: In greaso Os. lOd. to Is. 3id.