The London Wool.

Waimate Daily Advertiser, Volume III, Issue 119, 5 March 1901, Page 3

The London Wool.

The following report of the London woo! market, of January 18th, has been received by the New Zealand Loan and Mercantile Agency Company from its London office—There was a largo attendance of buyers at the opening of the first series of the year, on January loth, and competition, both from the Home and Continental section, was fairly active, though some irregularity was noticeable. As you will have learnt from our cable advices, merino and fine cross-bred, as compared with the close of the October-November sales, ruled, on an average, about per cent, dearer, while medium and coarse qualities of the lattsr were unchanged. With the progress of the galas, a more confident tone in the bidding having been manifested, the position generally has improved, more particularly as regards good and medium scoured, and wasty, greasy merino, the former of which may now be quoted at 7£ to 10 per cent., and the latter, when of fine quality, 5 to 7£ per cent, higher. Fine cross-bred in the grease, in good condition, marks an advance of fully 5 per cent., and scoured 71 per cent. ; but in coarse qualities in slipes, though keenly competed for, no improvement has so far been manifested. While the chief support Is furnished by the English and German sections, French buyers, who last series operated but sparingly, are purchasing fairly freely. Several American buyers are here, but so far little or no wool suited to their requirements has been catalogued, and it remains to be seen whether any material support will be furnished from that quarter. It is not possible to speak with any degree of certainty as to the course of events in the near future; but any further advance at present can hardly, we think, be looked for, while it seems by no means improbable that, towards the close of the series, when immediate requirements have been satisfied, prices may ease off.