Commercial.

Hawke's Bay Weekly Times, Volume 1, Issue 21, 10 June 1867, Page 134

Commercial.

LONDON WOOL REPORT. 30th March. The sales, which commenced on. February 28, closed, this day. The quantities catalogued consisted ofSydney, 19,912 bales Port Philip, 47,534 47,534 hales; Van Diemen’s Land, 443 bales; Adelaide, 14,233 bales; Swan Diver, 805 bales; New Zealand, 1,085 bales; Cape, 32,745 bales; total, 115,757 bales.

At the opening sale home buyers took freely of all descriptions at an average decline on washed fleece of Id to l£d, and greasy, $d to Id. For a few days wool sold well at this declension; the continuance of very unseasonable weather and continued dull reports from the North caused prices still further to droop, until the decline at the lowest point had reached for Port Philip, 2i to 2}d on November rates: Sydney, 2d to 3d; scoured 2Jd to 3JcL; greasy. Id to lsd.; Cape, 2d to 3d. At this decline exporters commenced purchasing very freely, and to their extensive operations our market is entirely indebted for the gradual recovery of Id to from the lowest point; had their competition been "less—coupled with their very large purchases—our market would have receded considerably more, and the fall would have bepn.very serious. During the last few days the weather having improved," and slightly better accounts from the North having been received, there has been a better feeling, and wool of all descriptions has met a better and readier side. Judging from,the present state, of our market higher rates cannot be looked for in May; the large stocks of.-wool, coupled -with dimintghps trade will 1 keep prices at a moderate range for year. v • ;

The heavy losses sustained on purchases made on the, other side ought to induce more caution; and many tnnesbave yvje repeated that themargin allowed is scarcely eversufflciqnt to meet the contingincies of our market.