THE WOOL MARKET.
ANOTHER.BIG ADVANCE
The advice by cable to-day from London of a. big advance in the price of wool will be read with great.interest by those in this colony who have still wool to sell. The sales in London show an,advance of 20 per cent in the price of Merino and fine cross-breds, while medium and lower crossbreds advanced from 20 percent, to 30 per cent., as compared with the prices realised at the October sales. Merino lambs also advanced 25 per cent., and cross-breds 2.") per cent. Evidently heavy buying has taken place for the Continent, as only 4000 bales were purchased for America, while 49,000 bales were secured by Continental buyers. and 45,000 by Home buyers. Notwithstanding the advance in price 5000 bales were held over. Owing to the serious drought last year in Australia millions of sheep were lost, which must necessarily mean a considerable decrease in. the export of wool from those colonies this season, and this may have had some effect on prices generally.
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Auckland Star, Volume XXX, Issue 295, 13 December 1899, Page 5
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171THE WOOL MARKET. Auckland Star, Volume XXX, Issue 295, 13 December 1899, Page 5
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