THE LONDON WOOL SALES.

Dominion, Volume 3, Issue 763, 11 March 1910, Page 5

THE LONDON WOOL SALES.

.VALUES-WELL MAINTAINED. (From Onr Special Corresuondcnt.) . London, January 28, 1910. The sales generally are proceeding in a very encouraging way, the past week's business feeing characterised with every good feature that could be desired. There continues to be a big contingent of buyers present in Coleman • Street, and -on the whole trade of -n most encouraging nature can be chronicled. The selection has been a very good one, each day's catalogues containing some splendid clips both of a. merino and crossbred quality. When ire point out that up. to Is. 7Jd. has been paid for greafcy. crossbred, 2?. !>d. for Shaw scoureds, and 4s. o}d. for Langi Willi warm ..water .washed lambs, it .shows distinctly that buyers are still 'prepared to pay long figures for tip-top 'parcels of wool. Of course, such prices.are the exception and not the rule. When we come down -, to the rank and file clips of greasy merino and crossbred combing we < see even hero some very'encouraging prices being paid, A large number, of the merino clips cata? logued are selling from,l2d, to lid., while Americans a, ready, buyer.of 46's to 56's, quality wool-'from Is., od. : to If. 3d.,. Even these figures carmot but satisfy growers, for they must , leave behind, handsome profits for their year's work. The writer has now attended London, sales for oyer 20 years, and in all that timo we do not remember a period when Australasia turned out better-wools than .are to be seen this season:' Here, and there one meets with" a 'tender stapled, clip,: but that is only- occasionally. When sheep are depastured upon full pastures, they seldom fail'to'respond in turning oft. a good fleece, . and fewer complaints are being heard' to-day about the quality and character of Australasian wools, than we have ever ■ known. Somo buyers say the wools are extra burry, but the cause is not far. to -seek.. 'At the same; time, 'vhile vegetable matter is ail objectionable, element, yet'-consumers can deal,-with-that far more- effectively than poorly grown, tender, mushy clip of wool. The sales, throughout the week have been well attended, .competition has 'ruled keen, and prices are still very, - steady.

A COMPARISON OF,PRICES. One cannot help but notice the little ! change.there'is in the course'of merinos, these wools . while ...selling .remarkably well, only realising just about the same prices that were current, last series.. What else could'be expected? It'is generally agreed that wool iprices are extraordinarily high, and even the most confirmed "bull," is at last recognising that, the raw material is costing'quite enough monev. Below we show what -leading clips sofd for last series, and what they have made this series;- the figures, illustrating the even tenor of merinos:— S. WILSON over YANKO (N.S.W. wool). .... Dec. .'Jan. ' . '~..■-.'. ' series', series. ■ " 1909. 1910. ' ; . . ; d.;. . d:" Grease, super combing E ... 13J ' \'l3! „ first ,i' E ... 121 ;;■'■ 12 „ second „ >E ... 11. " ... 11J : „. B' ■ '.„'-." E ... ,10J Hi „ first clothing E .... 11 '-'".-10J • „ 'second " „ Ei'.'.' : 10 .'■ 10J „ ..broken E\ /.:.*.... 10J ■. ]0J „ 9 11 '„ .pieces '........ ,9 ■■-■-$•■ ROCKWOOD- (Queensland wool).' '[ ■"'. Grease,: first'combing ......... 11 '■'"■" ! 1H „: ..first . „ '", . 9J , 10 : 9 l : . „. 'broken , 9J 9j . „ neck 5........ ..... IOJj 10 Crossbreds are still. selling uncommon-, ly ' well,'-and" : niakirig easily .opening prices. "< The home' trade is giving, splen-" did support to .every, quality, .;while America is' already''buyer of <ail!:lightconditioned, well-grown parcels; An average 'price .for' good half.breds is. 14d.-15d.y although • lGtd. has been .paid : for a par-; ticularly good line of New Zealand-pro-duce. .Still, there is not that extravagance in buying among the Americancontingent that we have been accustomed to during recent series. -Importers from across the Atlantic seem at present to be acting with judicious caution, an, «lc; nient which has oftentimes, been -wanting on ..the• part of, their buyers. No .doubt the fact that supplies-'are more adequate and' l will bo, is the reason for. their acting as-they are doing. ' However, prices for * every quality are ; well above ■• those ruling in consuming quarters, the Home trade as usual 'taking.;the--bulk of the offerings. Germany is also buying some nico : weights, there beingvseldom a;'lot taken in. '',"':■'".."

' CONDITIONS STILL SOUND. Throughout the whole ofv,the West Riding business continues, ...to' manifest, general sound factors which: are inspiring to. the majority. . Perhaps in Bradford there is not. the ..activity one,- has been accustomed . to . see during., recent weeks, but. all; the' same', there is a fair amount of quiet selling; proceeding which is sufficient to see prices maintained at to-day's level. Merinos'continue .very firm. -Spinners are taking .up their! contracts in a very creditable way,, and knowing that for some months to come supplies are going to be very_ adequate, they are , feeling comfortable over .the future course .of prices. - Some are. still hoping that with plenty of wool to come to hand prices will' slightly recede, but at present there is. nothing to indicate anything of that nature. Generally speaking, the price to-day of _ super 60's and 61's tops is a penny more than what most contracts are being delivered at, consequently, users are not disposed as yet to pay. more. There is as big a-consump-tion as over, and some largo weights of wool are being ground up. Commission woolcombers are all exceedingly busy, and direct arrivals, are being lifted from the ship with .all possible speed. ,The course of, crossbred wools''show's very ' littli change- c-dbipared' with .-a" week ago. Here and there ajraction more is being named for-.36's to 4b"s tops, but it is.with-diffi-culty any user will accede the smallest fraction. The argument is that' London prices were all -discounted before 'the opening, and with wool being no dearer, there is no need for higher rates to-be paid locally; --The Continent is-still'in an inquiring mood for -medium wools, and some fair weights of scoured are being shipped abroad. . What.6eenis.ro be most wanted is a good supply of colonial crossbreds from 3G's to 50"'s, medium and fine qualities being very scarce. The Leicester hosiery trade is still absorbing some good weights of' wool, and business on-the' whole with that centre cannot .be grumbled at. ■ Spinners are' all: well supplied with particulars, ■'and several-state thev are at least a good month behindhandwith deliveries.. . This all means that consumption of tops is - bound to go on. in. an undiminished-...way for,, some months to come, and so long as this'obtains prices' cannot- vary a : 'great"deal. Mohair is easily maintaining its'"present position although Cape firsts conld do with a fillip. ' /,-' •