LONDON WOOL MARKET.

Wairarapa Age, Volume XXX, Issue 8481, 9 July 1907, Page 3

LONDON WOOL MARKET.

(From Our London Correspondent.) LONDON, May 23. Under date May 16th, Messrs Windeler and Co. report:—The following is the value of Australasian and Cape.wool in London, May 1907: Svdney—Scoured, superior 24d to 25d, average to good 20d to 22d, inferior 17stol8d; greasy, superior 14d to 15d, average to good ll|d to 13d, inferior 9£d to 10£ d, crossbred 12d to 15d. Queensland—Scoured, average s 20d to 2ld; greasy, superior 13d to 14d, average to good lid to 12d. Swan River—Washed, average 14|d to 15£ d; greasey, average blue lid to 12£ d, red 9d to 9£d. Port Phillip— Sraured, superior 25d to 26d, average to good 21s to 23d, inferior 17d to 19d, crossbred fine 21d to 22d, crossbred low 13d to 14d. greasy, extra 16d to 17d, superior 14Jd to 15Jd, I good 13d to 14d, inferior to average ( lOd to 12d, crossbred super 16£ dto , crossbred fine 14£ d to 15* d, crossbred Lincoln lid to 12d, scoured pieces average 19d to 20d, greasy 9*d to IOJd, scoured lambs average > 15|d to 16id, greasy 9d to IOJd. Ade- t laide—Scoured, average to good 20d ! to 21£ d; greasy, superior 12d to 13d, average to good lOd to Hid, inferior 8d to BJd. New Zealand—Scoured, good 22d to 24d, average 20d to 21d; greasy, superior 12Jd to 13d, average to good 10£ dto 12d, inferior 8&d to 9Jd, crossbred fine 15d to 16d, crossbred average 13d to 14d, crossbred low 10'Jd to lambs 9d to 10£ d; slipe, half bred 16d to 17d, Lincoln 12d to 13d. Cane Scoured, Western super S.W." 22d to 23Jd, Western good 20d to 21d, Eastern average 18|d to 19£ d, Eastern inferior 17d to 18d; washed, Kaffrarian average 91d to 'lOid; greasy, Western combing super lid to 12d, t Eastern combing super 7£d to B*d. Eastern short average 6Jd to 7id,'Kaffrarian 7id to Bd. The third series of colonial wool sales, which commenced qn the 30th ult., closed to-day. During the actual fourteen selling days 156.946 bales , have been catalogued, or a daily average of 11,210 bales and 145,000 bales sold. Of this total, 90,000 bales have been taken by the Home trade, 51,000 bales by the Continent, and 4,000 bales by America, leaving 16,000 bales to be carried over, of which niarly 10,000 bales have not been Offered. The preceding interval was sort, and, in addition, was partly taken up by the Easter holidays, while markets remained quiet, with supplies, especially of crossbred, arriving in heavy quantity. Consequently, the decline in this description of 5 to 7£ per cent, on the medium and low qualities, which marked the opening night of the series, was quite expected. Merinos on the other hand, stood firm at. closing March quotations. During the first few days this weakness in the stronger wools continued most pronounced, but before the week was out a better ttone became observable, which developed | into a full recovery of the ground lost, except perhaps on, medium grades, and prices with increasing animation close atj,the best. In the meantime all good merinos kept up their end well, with medium descriptions rather dearer, though faulty sorts have ruled somewhat, irregularly at about 5 per cent. decline. Merino lambs have also been 5 per cent, cheaper and crossbred lambs have not shared in the fleece recovery ending off 5 to 7i per cent, easier, especially for faulty sorts which have been much in evidence. For greasy South Africans, which were mainly in heavy condition, the series oneneu at about s|per cent, off, but this has been partly regained. Scoureds, too, which were weak at first, have fully firmed up withj an occasional improvement. The offerings of Punta Arenas and j Falkland Islands wools, which comprised in atl 14,597 bales and 2,308 bales, respectively, felt at first to the full the drop in the corresponding Australasian dualities. Though having a share in the recovery, they have not su completely got back their own. consisting as they do so largely of the medium grades, which have suffered most. The result of the series has been ; satisfactory to holders, while the hardness of prices at the close indicates a confidenece on the part of users which the comparatively small supplies to come forward and the activity of trade would appear to justify. The main feature has been ±he very rapid swingback of cross- n.

bred prices after the sharp decline, due to large Continental orders and other influences,and is in striking contrast to the series a year ago, * which closed weak, and marked the commencement of the long period of stagnation. The next series, without any limit as to quantity, commences on July 9th, and with old stock, may comprise 140,000 to 150,000 bales. It has been decided also that for the remaining series of the year, fixed for 24th September and 26th November, the quantities are to be unlimited, subject, of "course, to the regular automatic closing of the list eight days previous to opening dates.