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Waikato Times, Volume XXXVIII, Issue 3098, 24 May 1892, Page 2

We should imagine that the late cablegrams conveying the particulars of the London wool sales will be pleasant reading for a very large number of our Waikato settlers. Not only was the bidding more spirited than has been the case for some time past, but prices have distinctly advanced in greasy crossbred—the principal staple of Waikato—by |d per pound. At one time, not so long ago, the London quotations for wool were of importance to comparatively few of our small settlers; the companies and large estates being chiefly interested. Now, however, times have changed, and there is scarcely a farmer in Waikato, large or small, who has not his flock of sheep. The market price of wool, therefore, is a matter of almost universal concern. Some uionths ago, iu the course of an article upon the wool trade, we quoted the opinion of one of the leading brokers at Home. Briefly, this was that the close of two years of feverish manufacturing activity had left Europe, and also to a lesser degree America, with enormous stocks of made up goods on hand, but at the same time, with one of the lightest stocks of wool known for years to carry it over. The effect of this vast quantity of manufactured goods would obviously be to depress the price of wool until stocks were to some extent worked off. This has apparently come about, and we should not be surprised to see good sound wool continue in brisk demand. With regard to the Australian product, we learn that the percentage of weak, burry wool is upon the increase. For this low prices are received, but all highclass wools are maintaining their values. The New Zealand grower, with his unrivalled pastures and climate, so well fitted for producing a first-rate article, has nothing to fear. While the world's consumption of wool is steadily or; the increase, the area of suitable sheep country is not by any means unlimited. That light inferior wools from the Cape, Australia, and elsewhere will become plentiful is almost a certainty ; but if our flockowners set themselves steadily to turn out, as they can do, only wool of the best quality and in such grades as will suit the London and Ameriean markets, they will find, as heretofore that the annual wool cheque is ahout the most profitable and certain branch of their incomes.