THE WOOL MARKET.

Stratford Evening Post, Volume XXXV, Issue 11, 11 January 1913, Page 4

THE WOOL MARKET.

During the current month the aggregate quantity of wool offered for sale at the principal centres will constitute a record for the Dominion, something like 140,000 bales having been catalogued. A week ago 26,751 bales were submitted at Napier to a full bench of buyers. The prices realised, remarks the “N.Z. Times,” there gave indication that the limits reached in the December sales arc not likely to be again touched this season, although the ruling rates are still at a most satisfactory figure. The most noticeable reason for the easier tone of the market, which fell by about a halfpenny during the month, war the lack of spirited competition by American buyers. At Wednesday’s sale in Wellington, when close on 26,000 bales were offered, prices for woo' suitable for top making showed a decline of a halfpenny to three farthings compared with the December sale. Last month, however, a large quantity of the wool was in excellent condition, and appealed to the Americans, who were not so keen yesterday after the heavier conditioned fleece: offering. Taking into consideration the heavier condition of the wool and the fact that many of the lines were not up to the December standard of quality, farmers have every reason tr be satisfied. The “Times” also con siders that growers who refuse to set at current rates seem to he taking considerable risk. That is their affair, if they are prepared to gamble, but the offers refused yesterday may not be available again during the season. The unsettled political state of Europe may have a still greater hardening effect on the financial world, reflecting itself in the London sales later on. There is, however,' verylittle wool being bought for speculative purposes, and the fact that this material is now being more extensively used all over the world, supports the belief that a high level of pricer will bo maintained for some years at least. An instance of this is the activity of Japanese in Australia, both for their own requirements and for China. From the point of view of wool values the position i<* important, because this eastern demand causes something extra in the way of com petition. Special factors have been at work in late years to enable n greatly increased quantity of raw material to he absorbed at Tii&h prices. A decade or so ago such a volume of wool as has accumulated because of the increased production in Australasia during the past five or six years would probably have caused a slump in prices. But the contrary has been the result. In fact, the increase in the world-wide call for fabrics lias been one of the most remarkable features of modern times.