OPENING AUSTRALIAN WOOL SALES-SEASON 1893-94.

Otago Witness, Issue 2069, 19 October 1893, Page 6

OPENING AUSTRALIAN WOOL SALES-SEASON 1893-94.

When it is borne in mind that about one-half the annual Australasian wool clips is now sold at local centres in the colonies it will readily be understood that much importance attaches to the yearly opening events, but the interest was intensified this season because of the serious doubts entertained of the success of the inaugural auctions. The two opening sales were held at Adelaide on the 27th ult. and at Sydney on the 4th inst., aud the particulars of the proceedings, for which we are indebted to the commercial reviews and selling brokers' reports publibhed in the Adelaide journals and the Sydney Mail, we give in a condensed form, premising that on both occasions the attendance of buyers far exceeded that of any preceding year, many manufacturers — British and Continental — being represented who previously purchased at the London sales, and secondhand—that is to say, from speculators and dealers.

At the Adelaide sales, out of 8819 bales offered 8229 bales weiesold, nearly all of which were bought for the Continent, Yorkshire buyers and local woolscourers getting but very little. The competition is described as very keen up to market value, and in marked contrast to last year's opening sale, when the tone was dull and buyers acted with extreme caution. The parcels offered could not be considered fairly representative of the season's production. The clip on the whole is regarded as better than the average — due to the favourable season geneially throughout South Australia — being well grown, fa.irly free from burrs and seeds, much cleaner than last year from sand and earth, but soruewkit heavier in grease. The top price of the day was 7^d pc-r pound for merino, aud this was regarded as satisfactory for <»arly clips coming from the far north, west coast, northeast, Kiver Darling, and River Murray territories. A notable phase of the sales is referred to by a leading firm of brokers thus: — "A peculiar condition obtaining just now in the wool trade is that, practically, all grades of merino wool are selling at about the same level, the finer quality of wool selling but little above common grades. Owing to this circumstance the prices paid for pieces and bellies to-day, except when burry, are relatively higher than on any previous occasion. Fineness in quality is, at the moment, almost ignored, and the value of a wool just now depends upon what it will yield when scoured." Speaking generally, prices at the sale under notice were fully equal to the opening rates of last year, with a certain tendency to higher values in "pieces" and "lambs." " Crossbreds also met with a good demand, and the prices obtained for lots offered indicate that the prospects for this description of wool in the coming sales are good. A considerable number of farmers' clips were catalogued, and for these higher prices, resulting from the improved get-up and improved condition of the wool as compared with last year, were obtained."

At the Sydney sales on the 4th inst. 5947 bales were offered, and it was expected that during the week between 15,000 and 16,000 bales in addition would bo submitted. In reference to the restricted catalogue, the Sydney Mail says: — " In view of the extremely moderate range of values current in London and other European wool centres ever eiuce May last, and of the dull conditic n of trade in most parts of the world at the prcm-nt time, some of the most sanguine supporters of the Sydney wool talon wen 1 , inclined to b(, oO'uewhai/ noujitic&l as to the succthb likely to attei.d iho inaugural auctions hero. But for this the catalogues oll'tred this week wuuld undoubtedly have been much larger and more representative. .... It had beeu known for bevcral weeks past thai the purchasing power in Sjdncy this sensoii would' be greatly in excess of any previous

year, bub such a great gathering of buyers as that assembled was altogether a surprise not only to the many business men who had been attracted to the inaugural auctions with the view to test the pulse of the market, but even to those by whose foresight the magnificent saleroom was provided." For the wools Bold prices as near as possible on a par with last year's openir>g rates were paid, except in the case of crossbred descriptions and scoured sorts, which commanded figures about £d per pound higher than those current in October 1892. Good bulky pieces and other skirtings elicited very keen bidding, as did all wools of a lengthy or shafty character. Earthy and wasty parcels, on the other hand, proved to be somewhat difficult to sell. Generally the new wools opened up in capital order, being thoroughly sound, well grown, and bright in appearance. There is, however, in most instances more fatty matter and waste in the wools than was the case last year. Very heavy withdrawals of medium greasy fleece were made at the Bale owing to the reserves placed on consignments offered being a fraction over present values'. Prices now current in Sydney, quoted in the Mail, are as follows ;—; —

It will be observed that no superior clips of merino wool have yet been placed undei offer, and it is expected that during the progress of the sales considerable quantities of crossbred descriptions will be available.

•e&crip l iiipenoi -tOOI [mm nor. d. d. d. d. 7 to 8 7 to 71.7 1 . 6 to 7 4 to 4} 7Uo Bij d. d. 6 to (5} si-to M 5 to 6 3 to 3] 6Uo 7 Bjto 9^ 12 to 13 10 to lOt SUoIO 6" to HI d. d. 5 to 5V 4 to 5 3^ to 4^ 0" to 2^ ito 6 61 to 8 10 J to 115 8 to 9£ 7 to 8 4 to 5\ r, fleece ... j. lambs . . . j. pieces ... 'A. bellies.. J j. crossbred W. fleece ... j?. fleece ... 3. pieces ... ;>. bellies .. 3. locks ... - 15 to 16} 13 tol4 Hi to 12 Blto 9 13^ to 14^ 11" t0,12" 101 to 11 7 to S '