THE WOOL SALES.

Otago Witness, Issue 2813, 12 February 1908, Page 23

THE WOOL SALES.

LONDON, February 4. At the -wool auctions there was- a good sale, but prices are unchanged. February 5. At the wool sales there was improved competition for crossbreds, but no change in merinos. February 6. At the wool sales the following were the average prices for the fleece portions of the clips named: — Hiku, lO^d; Te Apiti, 9£d. February 7. The London market is firm for all qualities of wool -at full rates. The Ellerslie clip realised 17| ; Tenakoe, 9|d ; Akiteo, 9|d; ES over T, Bld. The sales closed firm at late rates. February 8. The quantity of wool sold for home consumption was 20.000 bales, for the Continent 70,000, and for America, 60,000, and held over 3100. Compared with December rates, best greasy merinos were nearly 5 per cent, dearer, good scoureds 5 per cent, lower, and faulty 7£ to 10 per cent, lower. Fine crossbreds were firm, but medium and inferior were 10 per cent, lower. Scoureds, especially faulty, were also 10 per cent, lower. Messrs Dalgety and Co. report having received the following cable from their head office, dated London, February 7: — " Sales closed firm and active, with brisk competition. Greasy good merino wools are on the average 5 per cent, higher than closing rates of last series. Inferior and faulty quality greasy merino wools are 5 per cent, lower. Scoured merino wools in general are 5 per cent, lower. Fine crossbred wools : — Any change in price- is in favour of sellers. Medium and coarse crossbred wools, 10 per cent, lower than closing rates of last series. Out of the net quantity available for sale, some 81,000 bales have boon gold for Home consumption, 70,000 bales for the Continent, and 6000 bales for America, leaving 30,000 bales to be carried forward to the next series." The Now Zealand Loan and Mercantile Agency Co. are in receipt of the following cable advice from their London office regarding the closing of the fii*t series of wool sales: — "As compared with last sales, closing rates, prices are higher by about par to 5 per cent, for greasy merino super and medium ; lower by about 5 per cent, for fine cro=sbred, scoured merino, and lambs ■wool; lowov by about 10 per cent, to 15 per cent, for coarse and medium greasy crossbred and cro-sbred slipe coarse and medium. Sales c!o.=ed firmly." The National Mortgage and Agency Company of New Zealand (Ltd.) are- in receipt of cable from their London office, dated Bth. advising that the January wool sales closed firm for merinos generally on a par with opening rates, and that the bidding was keen throughout For crossbreds, medium, and coarse, sales clo=ed at a. decline of 7J per cent, upon opening rates, and that buyers generally are operating very sparingly. Further, that no improvement can be looked for in the London market until the May series, which opens on May 12, but that so far as they can judge prices- should improve then.