NEW ZEALAND WOOL SALES

Hawke's Bay Tribune, Volume I, Issue 16, 31 December 1910, Page 9

NEW ZEALAND WOOL SALES

ARE CABLED PRICES ACCURATE

The London correspondent of the “Lyttelton Times.” writing under date November IStli, states that in ■ a review of the Yorkshire wool trade, the Bradford “ Daily Telegraph ” casts doubts upon the ac- : curacy of the prices obtained in "Wellington and Napier as cabled | to Bradford. The paper says:—; " Last Tuesday saw the beginning! of the sales in the Dominion, Wei-, lington and Napier opening the ball: with a combined offering of about 4000 bales. Cable news gives the cost of the combed article, delivered in Bradford, at 141 d for prepared 40's ; 44’s, prepared, IGld ; 46’s, prepared, 17d ; and 505’s, 20ld. Speculators are said to be buying freely, which may have something to do with the comparatively high range of values established. These prices are on a full level with what are current locally; in fact, I should say a shade above this market, judging by recent transactions. The point to my mind is: How far can these cabled quotations be relied upon for accuracy ? | “I do not for one moment ques-! tion their authority, or dispute the; candid statement of fact. M hat I! do say is this: that it is to many; people incredible that Bradford I topmakers should have been ac-1 cepting bld and 1-lld for spot as: well as future delivery for an aver-! age 40's prepared top, and the same! firm be buying wool in New Zea-, land which will cost them .Midi when it arrives Home and is comb-! ed. On the very surface that is highly improbable, and from what I actually know there are several; firms in Worstedopolis whose pri-i vate cable information hardly con firms what has been made public.! It is not always wise to proclaim: from the housetops what has been; done, but I should say that very; few Bradford representatives are’ buying on a limit above bid. I do. not dispute the fact that wool was; sold which will cost 14.U1 in the fop when combed in Bradford, but it] may have been really good fleece; and more suitable for American re-! quirements than the Home trade. ! We are expressly informed that; speculators are in the field, and it is now plain to be seen that a good' deal of recasing is going to be done, in the hope of catching American buyers when they are again in the: market. However, so far as Bradford is concerned, things are certainly a little firmer, and topmakers are the turn worse to deal with. "‘At the same time some firms! last Thursday were fully prepared to sell forward their standard 40’s average tops at 14d to 14|d, though some were asking 14.'d. The situation is certainly a little more hope- : ful, and a better feeling obtains,; but to lift the New Zealand and River Plate clips at current prices and turn the same to good account in Europe looks, on the fact of things, a herculean task, to say the least of it.”