MAY WOOL SALES.

Dominion, Volume 2, Issue 500, 6 May 1909, Page 4

MAY WOOL SALES.

At the opening of the wool sales in Coleman Street, London,. on Tuesday, there was a full attendance of buyers, who appeared to show considerable cagorness to'make purchases. Tho private cable, messages received by. Wellington woolbrokers are all of 9, cheerful character. ■ There_ has heon. an all-round improvement in values, fine wools registering an advance of 10 per cent,, :medium crossbreds 7$ per cent., and.'coarse Qrossbreds 5 ,per cent, on the closing rates of the Maroh series, which, according to tho High Commissioner's oablo message, worq as under:— ■'' ..'

Superior Merino 12d. to 14d. per lb. Medium Merino ... 10d. to 12<J. per IV Inferior Menno ... 7d. to O&d- per lb. Fine Orossbreds ... 12d. to 15d;' per lb, Medium Crossbreds.... 9Jd. to ll}d. per lb. Uars© Crossbreds ... 6Jd. to 9Jd. per lb. AH sections of the trade competed k'qonfy, and tho tendency: of the market i$ upwards. Tho advance and tho tone of the market are together vory oncouraging, and indicate that wool is to-day ahout tho best asset of tho farmers of Australasia, There wero many factors which might easily havo adversely affected the market, Thero first of all the .statistical position: supplies:are ample and promise, to be bo. When the. colonial w.oo] year terminates op June 30 it will be.found that Australasia has shipped about 130,000 bales moro than in the preyious yoar, and. supplies from .tho Capo and the River Plato are also larger. .Then there is tho fact that lh> European and North American clip is nearing the marketing period, and, above all, there is the fact that tradp in Groat Britain and the United States is far from satisfactory, and the purchasing power of the. people is. cbeoked by this circumstance, and also, by the fact of' a, rising wheat market and dear bread. In spite of all tboso drawbacks the market exhibits great strength alike , in London, at Bradford, on the Continent; and , in the United: States, and it is perhaps Bafo tp conclude that wool is going into consumption on an increased scale. Oheaper money has';-no. doubt stimulated ■ the demand, but if ; this is the only reason for the improvement: thero would bp considerable danger of a, reaction, for one section or another is bqiind to oyerrbiiyi or ppecu, late to, a point beyond safety,, and then bo forced to unload at a sacrifice; The improvement in, wool, if dup'mainly. to' expanding consumption, may, be taken as an indication of the general rocovery that is, taking place in trade and industry. 1 .