WOOL.

Patea Mail, Volume II, Issue 176, 16 December 1876, Page 2

WOOL.

Thh last cablegram from Lomlon is dated 18tli November. The sales bad then lasted fifteen working days, and 110,000 bales bad been sold, or move than half of what will.be offered. The average daily sale is more than the average daily sales generally, but not very much. The competition appears vigorous, showing that the Continental stocks must be small, and the home stocks in manufacturers hands can easily be proved to be smaller. Indeed, they must have worked on very small stocks, doubtless under the impression that the. supply would be larger. This was evidently the opinion of the importers, how created, we know not; certainly not on the facts that they could command. The daily consumption of Great .Britain is about one and a quarter million' pounds, Nearly half ot this is home grown, not quite. It is supposed that half of the bales sold will he taken for export. This may leave about I*o,ooo bales for home use, or, reduced to pounds, about thirty-three millions, and the average consumption of imported wool is about 700,0001b5., and this sale will probably yield 4:50,0001 bs. daily for 51 days, the working days in November and December. The now year will commence with apparently very small stocks, and it may be expected the first sales of 1877 will begin early in January. The following is from the English Customs returns. It is the importation for-the mouths of November and December of Colonial and Foreign :—ln 1873, 27 million pounds ; in 1871, 24 millions; and in 1875, 20 millions; or iu bales, 78,000, 79,000, and 80,000. Wo can hardly look for a larger supply at the first sale than the largest number here stated. It is not unreasonable therefore to anticipate a further advance in prices at the first sale of next year. We have tried throughout to suppress the discouraging views of the wool market so generally promulgate i upon the news of the sudden fall at the third sale, and do so by producing the figures necessary to justify the Press in undertaking to instruct the wool-grower.