THE WOOL MARKET.

King Country Chronicle, Volume III, Issue 109, 23 November 1908, Page 5

THE WOOL MARKET.

o ■ —• The wool market, presents a distinctly better outlook than it did a few weeks back, and indications point to the conclusion that the. downward run has been arrested, and that the market generally is on the upgrade again. Aucidand wooigrowers are looking forward with seme degree of hopefulness to the first sale, which opens there on Wednesday next. The unfortunate slump in wool values which took place at the beginning of the present year meant too great a loss to the sheep owners not to be well remembered, and a number are holding b-ick their clips to see how the prices range at the first sale. Still, the Wellington and Christchurch sales afford a valuable index. At Wellington the brokers estimates were exceeded and prices advanced f d per lb. on the closing rates of the London sales. Then, at Christchurch on Thursday, prices advanced §d per lb. on the Wellington figures, and there is therefore good reason to expect a still better figure for good lots at Auckland, probably reaching ljd above the quotations at last London sales. Competition was brisk at Christchurch, buyers evidently holding large orders, and very few lots were passed, while the wool was not .in such good condition as last year. Both the Wellington and Christchurch sales were on small catalogues, the former offering 1400 bales, and the latter, which has generally the biggest sale in the Dominion, 5031 bales. As about 4000 bales are to be offered in Auckland, it is reasonable to assume that the buyers will attend in force, English, Continental, and American houses being well represented. The first of this seasons Canterbury sales was h?ld at Christchurch on Thursday* There was a large attendance of buyers, representing Home, Continental, and American buyers. There was keen competition right through the sale, and practically a complete clearance was effected. The American buyers went strongly for the best half breeds and superfine threequarter breds. The local woollen'mills' representatives were outbid for the best fine wools, and contented themselves with the lower grades of halfbred%and merino, and other local buyers went only for scouring lots. Though it is difficult to make a comparison, owing to the difference in the classes of wools, it is stated by buyers who attended both sales that the prices were about a halfpenny per lb above those realised at Wellington last week. The following shows the range of prices as compared with the corresponding sale of last year:—Merino, 9Jd to 104 d in 1907, and 6|d to 10Jd in 1908; super, halfbred, 12d to 13d and lOd to lid; medium halfbred, lOd to Hid and 8d to lOd; inferior halfbred 7|dto9gd and 6fd to 7|d; super, threequarter' bred, lOd to 10! and 9d to 9|d; medium" threequarter bred, B£d to to 9?d and 7d to Bgd; inferior threequrater bred, 7d to 8d and 6£d to 6f d; super, crossbred, lOd to 10|d and 8d to 9df; medium crossbred, B|d to 9|d and 6id to 7£d; inferior crossbred, 6 l-3d to 8d and 6d to 6£d; longwool, BJd to 9d and 5d to BJd; best halfbred pieces, Sd to 10Jd and 6d to 7Jd; second halfbred pieces, s£d to 7£d and 3d to s|; crossbred pieces, 5d to B£d and 3|d to sd; locks, 3d to 5d and ljd to 4Jd.