THE WOOL MARKET.

Auckland Star, Volume LVI, Issue 30, 5 February 1925, Page 5

THE WOOL MARKET.

A STABLE PRICE.

PROSPECTS FOR FUTURE. THE LONDON SERIES. IBy Cable.—rress Association.—Copyright.) LONDON, February 4. Tn describing the wool outlook a leading member of the trade says: "The position generally would not lie serious if a reasonable working basis of values could be determined. This, unfortunately, the London sales did not discover or establish. Owing to the withdrawal of such a large proportion of Merinos, buyers were not induced to make their best offers, and it is difficult to say on what basis reliable quotations can be made. "In a rough way it seemed to be indicated that while buvcrs wished to operate at about a IU per rent decline on December rates for good combing Merinos, sellers would not accept a. greater depreciation than 5 per cent, except for inferior of very faulty parcels. The new season's orders were seriously checked from the Home trade, and i.-r----ticularly from the United States. This is unfortunate, ns strong hopes wore held of an increased volume of orders. "Even as it is there are many encouraging signs of returning prosperity. Our own textile section is steadily recovering from the financial difficulties which resulted from the collapse in the season in_l-__. There arc signs of improvement in the cotton section and in engineering nnd its allied industries, which will assist the general Home trade. The hrighter Kuropeon outlook, and renewed inquiries for export have strengthened the hope for a good year. Information has been received from many quarters that clothing stocks are not heavy, and that good orders arc waiting to be placed."The Condon wool sales closed disappointingly today. Buyers mi behalf of i Germany and Yorkshire were moderately active, and a, few I'nited States buyers operated very cautiously. The filterings at. the series included a. good selection of combing Merinos, but there, were heavy withdrawals owing to the high reserves. Prives were in-egular, goo,) wools selling at 5 to 10 per cent below the December rate-'. Faulty sorts realised 10 ♦•• 15 per cent. less. A good selection of crossbred?, both new and old, met with good competition, and were mostly cleared, but the prices weakened toward the close, and are now 5 to ID per cent below the December rates. Scoured wools and slipes did not meet witli such good demand, and prices ranjred from par to 5 per cent decline. Lambs' wool sold well at. par to 5 per cent under tbe December levels. For the New Zealand lot. "Mataran."' the top price was :13d. and the average _!fi_d. — (A. and N.Z. (able.) The New Zealand Loan and Mercantile Agency Company, Limited, has received the following cablegram regarding the wool market from its London bouse under date February 3: — -The sales closed "firmly to-day. As compared with last sale's closing rates prices arc about T._ per cent to 10 per cent lower for line and medium crossbred; a'bnut JO per cent lower tor medium Merino; about 1(1 to 15 percent lower for inferior Merino and faulty VVoqJ; about 5 to 7i per cent lower for coarse crossbred; about ."> per cent lower for Merino and crossbred lambs; 7_ per cent lower for supertine Merino. The prices realised for average to super grades of descriptions as lielow were as follows: —Merino super, XUI to "17d: average. '2."> dto 'l'_d; crossbred sii's to sS's. ."10d lo :i7d: 51V. to ofi's, 2Sd to X'.tl; -IS's to 50's. "_l<l to .'lid; 4ti's to 48's, 2'kl to _Sd: 44's to -Ill's. 2_d to •il'.d; 40's lo 44's. _"l_d to __4*<l; litis to 40's, 20_ to _3_d. Dalgety and Company. Limited, are in receipt, of the. following cablegram from (heir head office, London, under dale February 3: — The wool sales closed under fairly animated conditions. Competition was irregular. Knglisli and German buyers were the principal operators, Belgian. American and French lieing very reserved. Compared with bust sale the closing rates were: -Merino wools, lid to 4d lower, the decline in prices being more pronounced for inferior qualities; halfhrcd wools, crossbred wools, tine quality. 2_l to o.UI lower; crossbred wools, medium qualily, 2d to 3d lower; crossbred wools, coarse. H<l tn 2d lower; crossbred wools, scoured. 2_d to 4d lower; medium and line crossbred slipe wools, .Id lo 4d lower: coarse crossbred slipe 'wools, lid to "2d lower: lambs' wool. Ud to "2.d lower.

The total offering was 110.000 bales, of which 7 4.000 were sold, the destinations being:—Home trade. 37.500: Continent, :l.V200 : America. 1000. Of the fili.OOO bales carried forward, 17.000 have not been offered.