LONDON WOOL MARKET.

Lyttelton Times, Volume X, Issue 621, 20 October 1858, Page 4

LONDON WOOL MARKET.

The following report of the wool market we take from Messrs. Hughes and Ronald's monthly wool prices current, dated Liverpool, July 1 :— The favourable untidpf-tions expressed in our last monthlj' report have been since more than home out-v>the mills are now generally in full work, orders for goods and yarns have increased, and. although parties are prepared to pay some advance, consumers still complain that they cannot take contracts to leave a fair remuneration; but this is no new feature when wools show a tendency to rise, and on the whole the transactions have been characterised by a decided feeling of chetri'ulnesH.

There has been a good demand for unwashed Australian and Cape; a few sales have been made at $d. to fd. per 1b". advance from the close of the last London sales, and if importers had been willing to sell by private contract a considerable business might have been done at extreme prices. There has been a good demand for all kinds of five colonial by private contract, and from the increased consumption now going forward, it is evident that prices at the enstiing London public sales, to commence on the 15th inst, will at least be fully maintained, notwithstanding the quantity will be rather excessive—• probably not far short of 80,000 bales. So sudden has been the reaction that people naturally remark, that either present prices are altogether unwarranted, or there was no real cause for the late extreme depression. Our opinion inclines the latter way, as we fully stated at the time, and events have since abundantly proved that, with some exceptions, the wool trade was in a sound position, notwithstanding all that was stated afterwards to the contrary; at the same time we cannot see anything at present to warrant a still further upward movement. We confirm our reports of the 23rd and 24th ult., on the public sales here, which closed this evening. Australian wools fully maintained the closing rates of the late London public sales for washed fleece, while greasy wools showed an advance of Id. per !t>.