LONDON WOOL SALES.

Dominion, Volume 4, Issue 1116, 2 May 1911, Page 8

LONDON WOOL SALES.

CONTINUED ACTIVITY AT FIRMER PRICES. (From Our Spccial Correspondent.! London, March 21, 1011. Since we la~t wrote the sales in Coleman Street Wool Exchange have continued to manifest the increased activity v. hich vas in evidence towards the end of last "week, cacli day's sale being characterised by the keenest competition possible. Selling brokc-rs now report that good combing merinos are fully 5 per cent, dearer than they were in January, and without doubt the' incoming of the Continental section of buyers has completely changed the aspect of the sale room. It will be remembered that at the first series the buying was' left almost entirely to the homo trade, and although between the respective parties competition was then very rood, still with Prance and Germany enterin® the race everything has received a new impetus, and values arc certainly m favour of the seller. Alter all the Continental section of the trade is a valuable one and both Trance and Germany are lar"e buyers, particularly of merino wools. No" doubt in January everyone felt-ner-vous owing to the slump which had taken place on the term© markets, ljut the sound manufacturing conditions have done a "ood (leal to restore confidence, and with trade being somewhat improved abroad, evervone has been nerved into activity. Thi-* cerlainlv is as it should bo, and wo think it is high time that the disturbing factors which are so frequently encountered on account of mere speculators "bearing" and "bulling" the market ceased to have" any influenco upon the raw material. Of course, heavy arrivals are pourin" weekly into all consuming centres, and on' the surface it certainly looked a big task to lift the weight of wool that is at nr«ent available in Coleman Street, but !ve are now half through the current series, and iliere is not the least sign of weakening. The past week's sales have passed oit' splendidly, competition has remained very keen, and values are still moving at the highest point.

A BIG CALL FOR MERINOS. The outstanding feature of the series is the universal demand for fine wools, thanks to the combined attention of both the home and Continental trades. Thpre seems to be not the least evidence of giving wav, and the trade is in no sense full up with supplies. At least while no doubt many people aie well off in this respect, stul the majority feel disposed to irako provision tor,the iufcurc, <hul wc arc thoiotore seeing as/keen a demand as ever for merinos. '41 io adva *ce is mostly seen in good combing line grease, and these are now oftentimes 71 per cent, up on January rates. Even then there is a keener demand, and buyers are not securing such chep lots of scoured locks and pieces as they" did last series. AVo cannot see scourc-ds bringing much more money, but all the samo there are moro people for tho wools, and this no doubt l'.as helped to somewhat improve their position. All clips from West Victoria and the south-eastern district of South Australia arc realising extreme prices, and if America had been in the market we could easily havo see.r many lots fetching even 2d. per lb. more Quite a feature of tho series is the extrcmo prices which are being paid for lambs, and 4s. lid. per lb. was paid last week for warm-water washed Ercildoir.io lambs, a price which they have not made for some years. Even greasy lambs are fetching big figures, and it is'r.oteworth-' that r.ll classes are being more appreciated than they were. There is no doubt ilhat with the woollen trade developing mora lambs would be welcome, for llanne' manufacturers in Lancashire are keen in buying these. If lambs are of combing length, top-makers also buy them readily, but tho bulk are wanted'by those turning out the best classes, of underwear, and also by woollen and flannel manufacturers. Even ordinary lambs are worth to-day Id. more than they were in January. Cane wools are being- offered .in fairly good weights, and .t is noteworthy thai, the important Australian importations of shrop are beginning to tell upon the output of wool from South Africa. Several good clins have been offered from the Orange River Colony, and without doubt that State is supplying the trade with 'v>Hi>r w-ols than it ever did in its history. Tho several Farmers' Associations are undoubtedly doing good work, and aided bv the Government expert, there is. certainly not only a better stylo of wool being grown, but it is being sent to market in a more business-like way.' Up to Ud. has been made for good average combing wools—a far different price to 7d.,'which obtained for years for the short, heavy nnskirtod slins which used to mostly predominate. The Cape clip this year as a is rather shorter 'hari last season, but there is still the (Inniess of finality which makes the.-? c-ools so much anpreciated by. the trade. T!iere is without _ doubt a very ■-ood demand for this class of staple nt the hands nf both the Home and trades, and if Prowers will onlv still further improve their sheep and Trow a lvtter s'.vl? of wml. tln*y can depend upon excellent competition.

CROSSBREDS FIRM AND STEADY'. Large quantities are being offered daily, and the consumptive capacity of tho trade is hero seen at its best. It is really surprising how the offerings are being absorbed, yet there is no weakening, although we certainly cannot see much improvement on last series except for gocd half-breds, which are in no sense plentiful, and which are making a penny more. A very large weight of wool is changing hands from Sid. to Old. per lb., say, from 4Q's to 45's quality. The majority of the New Zealand clips are shorter than usual, consequently there is more carding wcol available. Germany is buying more freely, therefore, the Home trade is having to face increased competition. Taking the sale of crossbreds as a whole there certainly is an improvement compared with January, but one mis-sesthe competition of America for the lightest and bestgrown parcels. We are not now seeing only in a rare instance even 14d. being bid, and this stands out somewhat conspicuously to the frequent 15(1. which was ijaid a year ago. However, the three or tour American buyers which are present are operating in a very limited- way, and there seems to be about, their demand no expansion whatever. This is' furnishing the Home trade with some very good wools at a reasonable price, but somehow we havo a belief that several firms are operating liberally in the hope of seeing renewed American activity later on. No doubt these fleeces will be cased, and afterwards offered abroad. AYc call all average top-making wools very firm, and against the buyer. Sliped crossbreds are not being offered very freely, simply because they are not there to catalogue, but the lambs which are being submitted are meeting with very good competition indeed. AVo shall see'more slipes available next series, but the halfbred lambs, especially, are fetching excellent figures. Blanket manufacturers are buying freely the short pelts, and prices are fully firm. The sales are proceeding most satisfactorily, and a very cheerful feeling obtains all round the market. VALUES VERY FIRM IN BRADFORD. There is really little new to chronicle in connection with the local market. Tho trade has now had time to digest the verdict of Coleman Street, and everyone sees that the situation is sound and healthy. It can hardly be said that it has had the effect of bringing out any weight of new business, but all the same evervone feels disposed to look upon the future with more confidence, and if the sales finish firm there will be no setback in values. Merinos occupy to-day oven a stronger position than a fortnight age, and topmakers fell that, they can now enforce quotations which would never have been considered previous to the opening of the sales. No one is now prepared to accept what they would ten davs ago, all alike realising that prices for the raw material are against this market. Some belated spinners havo seen fit to buy forward for .Tune or later delivery, and it can be taken for granted that however big present supplies may be to a very large extent all the wool in jii-lit will be wanted. There obtains todav a totally different feeling in regard to "the future requirements of the trade than during tho early weeks of this year, and with spinners still being under great pressure, prospects arc bright.