Advance in. Wool.

Opunake Times, Volume III, Issue 130, 1 October 1895, Page 2

Advance in. Wool.

London, September 27. The wool sales opened to-day. There was a strong demand, and a general adxance of 15 per cent. At to-day’s wool sales, 15,107 bales were offered. There was a good selection, and a crowded attendance. The keenest competition took place amongst Home and Foreign buyers especially for medium merino combings and lustrous crossbreds. Compared with the July averages, medium merino combings advanced 15 per cent. The arrivals number 261,460 bales, and the number forwarded to manufacturing districts direct is 67,500. The number of bales available for the present series, including those held over from last series is 224,000. Best scoured wool has advanced 7i to 10 per cent; short clothing, 10 per cent; lambs, 5 percent; bright coarse crossbred, fully 20 per cent; and shaftier and finer lots, 15 per cent; scoured Cape wools are quoted at 7£d to lOd. Schwartze’s circular’ says the improvement is most mE,rked in greasies and medium scoureds, There is a less rise in higher scoureds ; clothing is in strong demand; and crossbreds are fully 14 per cent dearer. The tone of the marked is very strong. London, September 28. The wool sales continue animated, and the advance in prices is fully maintained.

Messrs Levin and Co, have received from their London agents, Messrs Dalgety and Co., Limited, the following cablegram : “ The wool sales opened with a very large attendance ‘of buyers. There was a fair selection of wools, and the competition was very animated. Prices are 10 to 20 per cent higher than the closing rates of last series. The demand is chiefly for greasy merino medium combing wools and for lustrous crossbreds; for merino fleece clothing wools the competition ia irregular. " English and Continental buyers are the principal operators. American buyers are purchasing hardly anything. The total quantity of colonial wool available is 225,000 bales.

The New Zealand Loan and Mercantile Agency Company (Limited) has received the following cablegram from its London office, viz :—Wool. —The sales opened at an average advance of about 15 per cent on last sale’s closing rates. The principal advance has been in crossbred descriptions. Competition by both Home and foreign buyers is active. The attendance of both Home and foreign buyers is good. The total quantity available, including wool held over from last series, is 292,000 bales, 67,000 bales of which have been forwarded to the manufacturing districts direct. Messrs Murray, Roberts and Co, have received the following wool market cablegram from their London house, Messrs Sanderson, Murray and Co:—The sales have opened with good competition. Prices have advanced for merino 10 to 15 per cent; fine crossbred advanced 10 per cent; coarse crossbred advanced 15 to 20 per cent.

(N.Z. Times.) After the long night the dawn has appeared. A year age the at the very deepest gloom ever attained in history. Before the last series of sales there was an improvement; the sales ended with an improvement of slightly more than 10 per cent all round. The present sales having commenced with a leap of an additional 15 the average selling val ue of our staple product stands 25 per cent higher than it did last year, the worst of all the years on the wool record. What that means to New Zealand is very easily calculated. The value of the wool exports for the year enling March 81st last was returned at £4,198,348. At one-fourth of this sum the improvement to be expected for the clips of the current year is £1,049,587. In round numbers the gain of the improved market to the wool grower will be a million of money. It would be more, but for the great losses in the Southern winter, which, estimated by competent judges at between half a millian and a million head, may be said to counterbalance the average annual increase. We may, therefore, congratulate ourselves on the addition of a million to the exports of the Colony for the current year. This result will of course, depend on the continuance of the improved prices. That opens up a very interesting question. The drought in New South Wales his destroyed a large number of sheep, wasted a great deal of the clip of those that remain,' and deteriorated more. The effect on the market of such a large disturbance must be a substantial f urther increase of prices. Moreover, as the accounts from Argentina are by no means good, the outlook for wool is happier than it has been for many years. The strong probability then is that the market is a rising market, and will rise considerably higher.