LONDON WOOL REPORT.

Southland Times, Issue 1268, 21 June 1870, Page 2

LONDON WOOL REPORT.

The second series of Colonial wool sales of the year opened on the 7th instant, and will continue as at present arranged till the 11th proximo. The market has been so far well attended by buyers from all quarters, and the prices, which at the commencement ruled fully equal to the March rates, with a slight tendency in an upward direction, hare since actually improved under the influence of a strong foreign demand, to the extent of id to Id perlb. Of the total arrivals of New Zealand wool, viz., 1,229 bales only, 641 bales to this date have passed the hammer. These wools have consisted chiefly of scoured and other parcels of the old clip, «nd leare room therefore for little further comment than what has been conveyed in our .previous issues. It is perhaps somewhat * unfortunate that New Zealand shippers should liave participated to so small an extent in the improved condition of the market during the first two series of the year, referable in some degree to comparatively moderate arrivals, and that the first portion of the bulk of the new clip will arrive on the market at a time when the pressure of supply from other quarters will be very heavy. Having regard to the quantity arrived and afloat . for the June series, which promise a total of at least 200,000 bales, and to the recent Colonial advices, which show that the anticipated deficiency in certain Colonies has been over-esti-mated, it would appear that some fluctuation as compared with current quotations may not be improbable during the next few months. Consumption progresses steadily, and though trade in the manufacturing districts is sound and healthy, there would appear .to be no justification for expecting any marked increase of activity in the absorption of the raw material. Good combing half-breda are in strong demand at full prices, and lambs' wool, which is in scarce supply, commands extreme rates. The proportion of Port Phillip wool available for combing purposes has been materially lessened by the deficiency in staple and tenderness of a very large number of the shipments from that colony — a circumstance which will tend to fHvor competition for New Zealand of good sound growths. The arrivals in time for the series were aa follows :—

Of the quantity which to this date has passed 4he hammer, viz. : —

. Tt is estimated that no lets than 60 to 70 per cent, has been taken on foreign account. . . The arrivals for the June series amount to 43,660 bales. Tho quantify of wool sold and awaiting sale irom the commencement of the year to the present date is stated at 257,802 bales, against 274,879 bales for the corresponding date of 1869. N.Z. Loan and Mercantile Agency Company (Limited), April 22, 1870.

Port Phillip ... *r ... 26,715 bales. Sydney... ...... ... 8,126 „ Tan Diemen's Land ... 7 „ Adelaide ... ... 11,425 „ "New Zealand..; ... ... 541 „ 'Cape ..." „._ ... ... 7,646 „ . YSoaiWefi.., ...... ... 117 „ Total... ... ;.. 54,577 ba1e5.

Sydney ... ... ... ... 27,947 bales. Port Phillip ... 83,951 „ VairDiemea's- Land ... 1,932 „ Adelaide... ... ... ... 30,165 „ New Zealand... 1,229 „ Swan Biver ... ... ... 1,166 „ Cape ... ... 16,320 „ 162,710 bales.