THE WOOL MARKET

Southern Cross, Volume 2, Issue 36, 1 December 1894, Page 12

THE WOOL MARKET

London Nov. 22. Messrs Balme, Jacomb and Co. report that at the opening of the wool sales 10,000 bales were offered, including 1500 from the Cape. The attendance of buyers was fair, but the competition very weak, much of the wool offered having, in consequence, to be withdrawn. The few good wools offered sold at five per cent; medium and inferior sorts at 7i per cent. ; and some old stock at 12£ per cent, less than closing rates of last series. Merinos of fair quality were from id to id per lb, and faulty and inferior were from id to Id lower; crossbreds were id lower. Nov. 28. The wool market exhibits a better tone. Good combing is firm, inferior and old neglected. Sydney, Nov. 29. At the local wool sales greasy merino reached the highest price realised this season, selling up to 8f d. Christchurch, Nov. 23. The first of the season’s wool sales opened to-day. Upwards of 9000 bales were catalogued, about half of which were offered and fully half withdrawn. English buyers were well represented, but only one or two were operating to any extent. Before the sale Mr Jowett, an English buyer, drew attention to the great trouble buyers were put to by growers leaving pieces in their clips, which often prevented competition for lots so affected. Fine crossbreds showed a drop of Id, other crossbreds, -gd to |d, and merino quite fd. Fine crossbreds brought 6d to 8d ; coarse, 5d to 7d ; merino, 4jd to 6yd. On the second day of the Christchurch sales biddings were even more languid than at the opening, but prices were not appreciably low except for scouring qualities and locks and pieces. The following are the prices realised for wool in grease : —Good merino, syd to 6£d; inferior to medium merino, 4fd to s£d ; good halfbred, 7£d to 8d; inferior to medium, 6£d to 7yd ; good crossbred, 7d to 7yd; inferior to medium, 6d to 6|d ; good longwool, 6id to 7d; medium to inferior, sfd to 6yd ; good crossbred pieces and bellies, 3sd to sd; crossbred locks, 2d to 3d. Out of a total offering of 9,142 bales 5,069 were withdrawn.