Commercial Intelligence.
, LONDON WOOL REPORT.
34th November. The fourth aad closing series of sales for this year commencea on the 15th of November, the arrivals announced in time for sale comprising— Sydney, 6,936 bales; Port Philip, 4,931 bales ; Tasmania. 1029 bales. New Zealand, 4,064 bales ; Adelaide 2 502 Lairs Cane 43 56S , g<> y-p; bales j held over, about 7,000 bides; total, 70,430 bales. The opening sale was well attended bvt.be home trade,'and biddings made with considerable animation Kir ail descriptions at fully the closing prices of last sales. For Sydney fleece prices were a shade higher, but Cape about Id lower. Contrary to the expectation of some, combine wools have notexcited the animated competitionan3 higher prices anticipated, the depressed state of I r.uic at Bradford causing buyers thence to operate with extreme caution. Prices have been irregular since the first two days, and buyers bid cautiously. Exporters are doing but little, and the dealers seem indisposed to increase stock, so that the bulk of the wool depends upon the manufacturers for absorption. Stocks of old wool are being cleared out, and some large parcels, in the, aggregate from the north, have led to a slight depression in feeling, as evidencing a want of confidence in those who are generally liberal buyers. The present tone of the room would lead to the inference that no advance will he obtained, but perhaps in certain descriptions lower rates may yet be looked for. It is quite evident that stocks of wool are larger than were anticipated, and, pending the arrival of the new clip, there seems to be a genera! wish to be quit of all old wools likely to be in competition with the new wool. It is evident that the general course of trade iu the north may be quoted quiet and little doing. Stocks of manufactured goods are accumulating, and it is feared dullness will prevail for some months; the heavy loss occasioned to the general public by the recent panic, the continued high price of provisions, and the extreme depression in many trades, throwing thousands out of employment, are subjects for consideration by all engaged in future shipments to our market. The political horizon is not quite clear, and we can only again say that there cannot be too much caution exercised at a lime like the present.
Messrs Waideler & Bowes, in their circular dated the 34th November, quote New Zealand wools as fallows ;—Scoured superior, 26d to 28d ; extra, 29d to 33d; average, 22d to 24d; handwashed and skin, IS Jto 20d; washed, superior, 23d to 25d ; average, 20d to 22d ; inferior, 17d to 19d; unwashed superior, 14dtol5d; average 12d to 13d ; inferior, lOd to lid. There lias been increased depression throughout the manufacturing districts during this mouth. The mistrust influencing the worsted trade especially has spread to other branches, and the demand for short wools fell oil; but yesterday’s advices from Bradford report a decidedly better tone in the market, and although this improvement may not be permanent, it is possible that the downward movement lias been checked. Long bright-haired English wools have suffered most.; they are now quoted at 23d to 23|d for hogs, and 20£d to 2id lb lor best Lincoln wethers.
The public auctions here commenced on the 15th inst., and are arranged to continue till Blh December, but may he curtailed; the first seven catalogues have already brought forward 30,425 bales, —11,812 Australian, 18,013 Cape—all of which have been sold. The attendance of lbs home trade was fully an average, and with some assistance from German and Belgian buyers they are able to maintain a fairly spirited competition. French buyers are not numerous, there is little offering to attract them, ami they do not seem free buyers of Australian, while the abundant supply of Bucnes Ayres wools ou the Continent, at relatively lower prices, prevents much Cape being bought for that destination.
Compared with the close of bust September sales wo find very little attention in the value of Port Philip wools. Scoured sorts now preponderate ; good fleeces over 24d IjJ lb are very scarce and secure attention ; but unwashed from 12J to 13d ■jj lb are quite as easy to buy as at that period. Good staple Sydneys may he quoted Id lb higher.
The selection of Cape fleece s , considering the large quantity, includes very few stout shafty lots, they consequently sell well at ISJ to PJJ lb; clean scoured wools are iu abundance; on these and on ordinary fleeces, the decline is fully Id lb : unwashed has been in better supply than during late sales, and realize full value, say 9d to 9J-d 7’ lb for good average.
The result is so far as satisfactory as was expected, stocks of fine wools are larger now than at this period Past year, and trade with ns will not materially revive before the new year ; in Germany it has not picked up as was expected at the close of the war, and in America the manufacturing business is unprofitable.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/HBT18670128.2.5
Bibliographic details
Ngā taipitopito pukapuka
Hawke's Bay Times, Volume IX, Issue 450, 28 January 1867, Page 2
Word count
Tapeke kupu
838Commercial Intelligence. Hawke's Bay Times, Volume IX, Issue 450, 28 January 1867, Page 2
Using this item
Te whakamahi i tēnei tūemi
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.