The Wool Market.

Feilding Star, Volume XXI, Issue 130, 1 December 1899, Page 4

The Wool Market.

The °heep farmers of the colony are to be congratulated upon the greatly im. proved state of the wool market aB compared with what it has been for flome years past. The returns they will receive this season for Iheir clips, while benefit* ing them m jividually, will also add a greatly increased amount to the aggregate return the colony will ' jtceiye from the exports of this season's wool. The farmers o£ Canterbury have especial reason to be thankfulfor the turn that th% market has taken during this past year, for the Bale yesterday, the first of this reason's seri-s to be held ."in Christ* church, was an exceptional success, not orilj tor the pjices given, but for the fact that only a comparatively small quantity was passed and not disposed of at auction. The principal rise in prices was showairi fine wools, merino, and half bred/ but as all the best clips have yet to come in, the full extent of the advance has hardly yet been appreciated. Tho marinowoolaold yesterday comprised very small clips, and was not of the same quaht.- as will be sent forward later on bj the larger growers, but nevertheless the highly satisfactory figure of 12|d for merino was reached, while, greasj nnlfr bredsoi.d as high as I.3Jd. »nd scoured wools sold high in proportioa. The rise in fine wools hns been brought about chiefly by the great shortage in its pro* duction during foe past few years, the chief factor in brini-ing about that result being the drought in Australia,, which caused the loss of so many merino sheep, New Fouth Wales alone haying lost between twenty an/i thirty millions. Then aga ; h, New Zsaland and Argentine have gone m for the more extensive breeding of crbssbreds, and thus diminished the quantity of fine wool produced by them. The fashions bare also con tlibuted to some extent to the rise in values for several years there his beena greater demand ;or fine good*. The general opinion is that fine wools will retain a good level of value's for several years to come, but that in the near future there will be a gradual appreciation of the values of the coarser grades Tne loss of so many sheep in Australia has reduced the world's annual supply of wool, while the demand _must go on increasing with the increasein population, The outlook for tie wool grower is ceitawly more favourable ihan it has been for msny years past.— Press.