LONDON WOOL SALES.

Dominion, Volume 2, Issue 455, 13 March 1909, Page 8

LONDON WOOL SALES.

. » A DOWNWARD TENDENCY. (mom ouit srECUi, coukesi'oxdknt.) London, January 29. This week lias seen develop souio untoward factors which were bound to inoi'o or less affect wool prices, and, generally sneaking, there is not that firmness shown which was noticeablo during the opening days of last week. First and foremost thcro is a general slackness on tlo part of America, the operations of the Yankjos being nothing like what they were last seriis. Wools suitablo for tho United States which sold liko fury last December at 13d. to 13Jd., are not fetching more- to-day than ll\d. to 12d., it having to bo a really good wool to realise over a shilling. This slackness and indifference ha>-o naturally affected tho entire trade, and notwithstanding such good all-round wools being catalogued, still there is not that "vim" that we have been accustomed to during tho la«t series or' two. During the week some very heavy offerings have bean put up, comprising largo quantities of medium merinos, and theso havo suffered tbo most. _ Short, mushy, badly-grown and wastvconditioned lino wools havo at times been more diflicult to more, and prices are mostly -Hi. down. When it comes to deep-grown, shai'ty merinos with plenty of combing property, then they are fetching all about last week's rates, but there is nothing on which any advances c in be reported. Good shafly pieces are selling well, and scoureds arc doing fairly well, though thoy are not making big figures unless it bo for a speciality. Crossbreds, notwithstanding a rather limitsd supply, are following much in the same course as merinos, the low. rather shabby Bradford topmakers , wool being a bit off. When it comos to well-grown and light conditioned crossbrois, all qualities arc making prices on a par with the opening, and America is also activo for both coarse and medium sorts. Tho Continent hasalso given little support to these wools. I ■ }}'*■ "i 1 " P ric(?s any more than last series either for grease or scoured. In a word, hio lone is good and competition keen up to a certain point, but evidently most of the buyers nro working on slightly lower limits, which accounts for a lot of tho wool selling a littlo irregularly. NEW CLIP CHOSSBKEDS. This series sees the beginning of the arrival and sale of new clip wools from New Zealand the same being nearly all crossbreds. I have examined them carefully, and, generally speaking, there is a triflo better condition than last season, and also a shade better length. Plenty of iibjrs were beginning to fear that these two essential characteristics were being under-esti-mated by New Zealand sheep farmers, and that in their eagerness to cater for the frozen mutton trade, they-were overlooking tho question ot ileeco production. However, well-known clips show an improvement on last year, and both Home and American buyers have spoken favourably about its growth. If littlo farmers would pay more attention to tho getup of their clips they would bo wiser than they are, for the' presence of heavy skirts rolled up with the (leece by no means inspires confidence or tempts ono to pay a long price. Once more Is. sld. has been paid for both comebacks and quarter-breds from West Victoria, the halfbred also fetching Is. i'A. Even New Zealand crossbreds have sold up to 13! d., the chief inducement being lightness of condition, combined with nice, soft quality. America is buying fairly liberally from lid. to 13Jd., but the wools' must be light, clean, and well" grown. . Even when growers do their best, there is certain to bo a fair proportion of short, stumpy, and badly-grown fleeces, and these should bo baled by themselves. The demand is as keen as over, the full initial advances being readily paid, and for a particularly well-grown lot, nobody knows to a penny what it will fetch. America this series is taking a fair good quantity of medium crossbreds, and is also buying j some nice weights of 40's. There is an excel- I lent demand on Home account, and business generally in crossbreds is of a most satisfactory nature. Germany is talcing a few mediumconditioned halfbreds, but the bulk of tho buying is being; done by the Homo trade, prices being well maintained at tho highest point of the- scries. FIRM AND STEADY. This market has not moved a. great deal either ono way or tho other since London sales opened, it" requiring a stronger lead than has yet been given to galvanise this centre into increased activity. Tho fact is local users havo a very strong impression that prices aro high enough for all practical purposes, and thut London's rates havo been fully discounted in tho rise which took place during tho last vacation. This district is looking on in a very attentive way, and so far it sees no reason for either going backward or forward. Spinners havo covered themselves so fully with tops, and wool is pouring in so rapidly, that they feel under no. obligation to buy further, consequently they aro taking in deliveries and quietly waiting developments. Wool seems to bo selling very freely in London, and to bo making prices fully equal to the best that are current here. Somo Bradford topmakers of ;tG's to 4G's aro exceedingly firm, and in one nr two cases a fraction more is being asked, but so far to little purpose. Combing machinery was never better employed than at present, and tops are going out at considerable speed. There is a far greater demand among spinners of Botanios than crossbreds, and if only tho simo pressure obtained in spinning departments as elsewhere, then tradq in Bradford would be very good. Tho tone is fairly hopoful, though plenty affirm that if inoro yarn particulars aro not forthcoming, and manufacturers get more busy, prices will ease. As yet no financial pressure is being experienced on the part of importers, and that is a satisfactory si?n. Wool bought in Australia looks remarkably cheap compared with similar wools bouslit in London, and ono mixed with the other will help considerably to even the cost of tops. Some nice weights arc going to the Continent of 40's to -IG's carded tops, and also short, scoured crossbred wool is being shipped. Noils aro not selling so freely as they might do. and prices keep very steady considering the weight that is Irein-; made. Some yarn spinners find trade exceedingly good, but others have nothing but complaints to make respecting the paucity of particulars, although they have plenty of orders. Mohair moves tardilv, and prices aro no more than steady, especially in Capo sorts. More lately has been rtoin<: in Turkey, and winter hair has also sold in moderate quantities. .