LONDON WOOL SALES.

Wairarapa Age, Volume XXXI, Issue 9140, 16 July 1908, Page 3

LONDON WOOL SALES.

Messrs Dalgety and Co., Ltd., report having received the following cable from their London Office, dated 14th instant:—" Wool sales opened to good selection. Large attendance of buyera and animated competition. With the exception of scoured merino wools of inferior and faulty description, on the average prices are higher for all other sorts by 5 per cent, compared with closing rates of May series. Change in prices are in favour of sellers." Concerning the third series of colonial wool sales, which opened on May 12th, Messrs Dalgety and Co., Ltd., report as follows:—There is no doubt that the action of importers in stating before the opening of the series that 80,000 bales at least wo uld not, be offered, helped to resto re confidence, and a general feel ■ inr that price* (especially for coarse cc > sabreds) muse have about touched bottom induced speculative buying, i which, together with the legitimate trade requirements and soma covering of "bear" sales, caused a sharp upward movement in all coarse wools, . which, starting on the second day of the series, was mantained steadily to tie iilaae, though there werd signs d-Jrin? the last few days that buyers ha! for the moment about satisfied .their, requirements and could not have cmtinued purchasing these qualities mi.'h longer without some reduction ih values. Merinos, though not showing the same fluctuations as have improved their position since the opening and close at last sales rates to 5 per cent, decline, wasty and faulty grea3y wools being in least demand, while best greasies have throughout shown very uttle change from March values. On the whole the result of the past series may be considered most satis factory, especially considering the i gloomy forebodings and depressed state of all manufacturing centres jusc prior to the opening, and it is much to be hoped that the same policy, which proved so successful on this occasion, may be continued by importers in July, for it is practically certain that the whole quantity available for that series will not be offered, and if some 'pronouncement as to the quantity likely to be held can be macie beforehand buyers can then gauge fairly accurately the supplies that will be put on the market and act accordingly from the opening instead of remaining in doubt on this point for the first week or ten days of the series. As compared with March-April closing rates, we quote:—Merinoj — Good and best scoureds, 5 per cent. ijy/cr; medium and inferior scoureds, par to 5 per cen:. Lwer; best combing greasy, par; s-horc and faulty greasy, 5 per cenc lower; other descriptions greasy, par to 5 per cent, lower. CrossUi'eiH—Fine, 5 per cent, lower; medium and coarse greasy, good staple in light condition and bright, suitable lor America 10 to 15 per cenc. higher; medium and coarse greasy,-. otner descriptions, 5 to 10 per cenc. nighar; medium and coarse scoured, par. Lambs—Both merino and crojbsred, if fair length an I free, par; shore and faulty de- « scriptions, 5 per cent, lower; slipes, abuuc pat'. Accjrding to returns published by Messrs H. Schwartze and Co., the total deliveries to the trade to date, as compared with last ye.-u # , are as follows:—Home con- -*. Mimytion for 1908, 570,000 bales, for r « 190/, 572,000 bales; Continental con jump fcion for 1008, 896,000 bales, for 1907, 944,000 bales; American consumption for 1908, 58,000 baleF, f.ir 1907, 118,000 Pales; total for lauß, 1.524.00U bales, lor 1907, 1,634,000 bales. The Home consu'.nution being practically unchanged while the Continent and America show decreases of 5 and 50 per cent, it spectively. ' Messrs Levin and Co., Ltd., have received the following cablegram in riterance to July sales from their Lmdjn agents, the National Mortgage and Agency Co. of New Zealand, Ltd., dated 14th July, 1903:"Sales opened with 5 per cent, advance on May closing rates for i/ierino and superior crossbred, and 1\ V sv cent, for coarse and medium crossbred wcol."