LONDON WOOL REPORT.

Hawke's Bay Herald, Volume 8, Issue 616, 27 May 1865, Page 2

LONDON WOOL REPORT.

The Times of March 27 says :—The first series of colonial wool sales of 1865 commenced on the 2nd instant. They comprised 84,352 bales, of which 23,654 bales were Cape wools, the balanoe Australian. According to Messrs. Southey and Sons' report, the sales opened with a moderate improvement on November rates in most descriptions of good qualities, and although there were some slight fluctuations from day to day, prices on the whole have been firm for really fine eor.B. Superior Port Phillip clips, though still l_d. to 2d. per lb. on May rates, have commanded full prices as compared with the rates current lately ; but owing chiefly to the great prevalence of burr, the average quality of these wools is not equal in condition to the shipments of last season. Good Sydney (slips, which at the commencement of the sales "were firm, afterwards deolined;. middling and inferior clips, were difficult of sale. Adelaide and other Australian wools, in grease, have, owing to the large amount of competition amongst the numerous foreign buyer.-*, realised full prices. Superior scoured "and washed fleece from the eastern provinces of the. Cape, as well as light

full stapled greasy wools, have sold at an improvement on last sales. Middling, inferior, and seedy descriptions were saleable only at a reduction on the low rates previously ruling. Western Capo wools, which at the commencement of the sales were briskly competed for, afterwards fell off, and prices were not sustained towards the close. Foreign buyers gave little support at tho commencement, hut they afterwards purchased their usual quantity— say about thirty thousand bales. It is gratifying tbat exporters have so liberally supported these sales, and that their purchases, amounting to nearly one-half the entire quantity offered, have materially strengthened the market, and saved it from a depression which would havo heen most serious. Should the home trade not materially improve before tbo May sales, when it is expeoted tbat from 120,000 to 140,000 bales will be offered, we mult not expeot to realise the rates now current, for we shall then have a large supply with a considerable increase in quantity from the Australian colonies, which some estimate at 60,000 bales over last year.