LONDON WOOL REPORT—March 22.

Hawke's Bay Times, Volume I, Issue 48, 29 May 1862, Page 6 (Supplement)

LONDON WOOL REPORT— March 22.

The first series of sales for the year commenced on 27th February, and the arrivals to that date were—Australian, 3,223 bales ; Port Philip, 7,170; Adelaide, 7,210 ; Van Pieman’s Land, 469; ’New Zealand, 192 ; Cape, 21,558 ; total, 39,883. Held over, 7,000 ; present stock, 46,882 bales. The indifferent accounts received from the manufacturing districts from the commencement of the year, and the gradually increasing stocks of cloth in the North, had led many to anticipate lower prices; and it was with some anxiety that merchants awaited the result of the first evening’s sale, which, it is very satisfactory to report, passed off at prices fully equal to the rates current in November, and after the first few days, prices were rather firmer, establishing an advance on scoured and fleece from Sydney of Id., and on Capes id. to Id. Prime Port Philip flocks were much competed for, and established high rates. The sales progressed with remarkable uniformity to the close ; Capes, however, were a shade easier the last two days. The small quantity of good wool in this series is to be regretted ; the prevalence of unfavorable winds kept many ships out which should have arrived in time, although this was an advantage in many respects ; one especially being, that it enabled all old stocks to be quitted, which was done to the extent of nearly 10,000 bales, an accumulation of old wool, the disposal of which has much relieved our market, whicli may now be quoted entirely bare—fresh arrivals excepted. Judging from the departures from the colonies, the May sales will be the most important of the year, particularly of Port Philip, the arrivals of which are expected to be very large. The general estimate is that fully 100,000 bales will be offered at the May series, of which nearly half will be Port Philip. Current rates can scarcely be looked for at that scries; the large quantity to be offered, to be again followed by little less in July must of necessity produce a decline, the extent of which depends much upon the aspect of American affairs, the settlement of which would be 5 a great stimulant to our market; and when the stocks of cloth are reduced to a considerable extent, our market will be in a most healthy state, for the stocks of the raw material in the hands of manufacturers and dealers were never smaller if an average be taken. Range of Prices of New Zealand Wool.—*Superior flocks in best condition, Is. 9d. to Is. lid. —f Average to good in fair condition, Is. sd. to Is. Bd.—fOrdinary, and ill-conditioned, Is. 2Jd. to Is. sd.—fScoured, Is. lOd. to 2s. 4|d. —Scoured Lambs’, 2s. to 2s. 4Jd. —Fair and hand-washed skin, Is. 4d. to Is. 7d.—lnferior and kerapy, Is. to Is. Id.—Lambs’ (good), Is. 6d. to Is. 9d.— Lambs’ (inferior to average), Is. 3d. to Is. sd. Broken Locks, &c., Bd. to Is. Id.—ln grease, Bd. to Is. 2Jd. ♦Western. tEastem.