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Marlborough Express, Volume XLIII, Issue 115, 13 May 1909, Page 3

opinion of one of the leading selling brokers, Buxton, Ronald and Co., making the following statement:— "Merino wool at the opening showed an average rise of about* 5 per cent., but whereas all fair to good descriptions shared fully in this appreciation, superior lots were more or less stationary. As the sales went on, while the latter remained steady, all ordinary descriptions of grease hardened gradually, until at the close prices often marked a rise of 10 per cent, compared with closing January rates. Scoureds also, which during the first few days showed no pronounced improvement, went dearer as the sales progressed and closed at the best point of the sales, with values about 10 per cent, dearer than at the end of the January auctions. "The selection of Australian wools was not up to the January level, with the exception of Tasmania, which, on this occasion, was represented by some nicely grown wools. "Greasy: There was only a moderate supply of Western Victorians, and of these the choice was not so good as in January, and at Is 3§d to Is 4£d prices ruled about steady. New South Wales was best represented by growths from the North Eastern districts, but here, again, the attractiveness of the offerings hardly came up to the January level; the top price secured was Is lid. There was a small supply of New England and settled clipsi which made up to Is 3d and Is 2Jd respectively. There was a fair show of Queensland grease, which made up to Is 2d for stout combing lots, and Is lid for tine quality clothings, but little of really high merit was catalogued. South Australia was chiefly represented by several nice clips from the SouthEastern districts, for which up to Is 2d was secured. West Australians met a very active demand, mostly on Home trade account, and up to Is Id was secured for choice growths. "Scoured wools at the outset did not rise in the same ratio as grease, and as far as fellmongered parcels were concerned any improvement was easily-covered by par to 5 per cent. During the second week prices began to harden, and from tfience to the end ruled strong and finished at the best point of the sales, with a rise of about 10 per cent, compared with January closing figures. "Lambs in the grease met a strong market. There were very few really choice Victorians; one good lot made. Is 9£d, about equal to last _ sales average, but all medium to fair lots rose fully 10 per cent, above Janu"South African: The offerings of these, neither in quantity or quality, came up to the standard of the January auctions. At the beginning prices for grease were quoted par to 5 per cent, dearer, but this applied more particularly to combing wools than to short descriptions, which showed little change. During the latter part of the sales prices hardened a little, and at the close all combing lots were about 5 to 1\ per cent, dearer than in January. Scoureds proved a rather better market than grease. "Crossbreds, of which 100,500 bales were offered, met a strong and active demand. Fine half-.breds, more particularly New Zealand, on average made about 7\ to 10 per cent, more than in January, and all through the sales were very firm. As at the previous auctions, American competition was mostly confined to good medium and the best descriptions of coarse staple, but prices paid did not show much difference from the high level of the January sales. Ordinary medium and coarse sorts opened at an advance of some 5 per cent., and as far_ as the former were concerned prices ruled steady throughout, with a hardening tendency towards the close. Scoureds sold freely at about 1\ per cent, advance. Greasy crossbred lambs were keenly competed for at a good 10 per cent, rise."

THE OUTLOOK

Messrs H. Dawson and Co. in speaking about the outlook say:—"The fear of inadequate supplies later in the year, and the fact of a generally j accelerated consumption, have led to [ a remarkable all round activity in our markets. The worsted branch of the industry has been, during recent ! weeks, the centre of a strong move- ! ment, first evidenced in Continental ! centres by an unusually large call for worsted yarns. German manufacturers and spinners appear to have become impressed with the probabilities of healthy trade, and also with the prospects of a somewhat limited supply of raw material in the London market at the ensuing series of the year. Consequently large contracts of yarn were negotiated, in many cases requirements being covered for practically the whole of the^ year, The 1 Home trade were sceptical and slow [to respond, but during the latter half of the series have become alive to the situation, and have joined issue, forcing values to a further appreciation. Continental consumers in general have scored advantageously at the past series, in fact throughout the season, as compared with the Home trade, having secured their supplies Both in London and in the Colonies at the cheaper periods. ''The most careful estimates show that the total available supplies remaining for London will probably range between 300,000 and 350,000 bales. The Importers' Committee have limited the quantities for the May series to 150,000 bales, and the offerings in July and September must of necessity be small unless there are unusually large re-sales, which does not yet appear probable.

"On the other hand, it should be clearly borne in mind that this does not imply that there is a reduced supply for the year. Wools have arrived Home more quickly than usual this season. Combing mills and warehouses are so full that they .find it difficult to cope with the arrivals. But the raw material is going i.-.to consumption at a rapid rate, and in every centre the same ret-ort is given, that tops are being used as quickly

as they can be produced, and the chief difficulty is the securing of prompt de-

liveries

"Merinos have now come within the range of what is generally regarded as being the danger zone of values, and, although prices are apparently fully justified by the large consumption and by the state of future supplies, yet the general trade of the country, and of some of the allied industries in particular, is far from being satisfactory, and any boom could hardly fail to be dangerous and probably short-lived. "The story as regards crossbreds is a little different. Fine crossbreds have received a strong upward impetus, thanks to a persistent call from U.S.A. ana from several German spinners for these sorts during the past series. The lower grades have been more- steady, due to the large supply, and also to the fact that, excepting the American demand for the choice pavcels, they are dependent chiefly on the Yorkshire demand. There are evidences, however, of a sympathetic hardening tendency, and as values are still relatively cheap and demand in several centres shows signs of improvement, the prospects for cross-breds-appear to be very healthy." MOVEMENT OF VALUES. Strong markets again characterise the situation in Bradford, but the fined to fine crossbreds and merinos. More money can be made than last week, and the following shows the movement of prices during the past month:— Tp T-i 00 U5 T-i tH r-l <N 6 h H S 'S I I I i 4* d. d. d. d d. Lincoln hogs ... 9 9* 9} 9} 9£ Lincoln wethers ... 7* 7f 7* 8 8 York, hogs, best ... 10$ 10* 10* 10.} 10.| York, wethers, best 8k 8£ 8| 8J 8£ North hogs ... 12 12 12 .12 12 North wethers ... 9* 9*. .9* 9* 9* Irish hogs, super... 11-| 11* 11* 11* 11* Irish wethers, super 104 10.J- 10| 10 J- 10J Kent wethers ... 9£ 10 10 10£ 10J Halfbred hogs, Midland bounties ... 10* 10* 10* 10* 10* Halfbred wetherß, Midland Counties 9f 94 9* 9* 9* Southdown tegs ... 13& 13§ 18* 13* 134 Southdown ewes ... 13 13 13 13 13 Pick Shropshire hogs 12 12 12 12 12 Pi c & Shropshire wethers ... .... 11* 11* 11* 11* H* Wiltshire Down tegs 124 121 12J 12*. 12* Wiltshire Down ewes 12 12 12 12 12 Eastern Counties Down tegs ... 11£ 11* 11£ H* U* Eastern Counties Down ewes ... 11 11 11 .11 11 . Cheviot hogs super 11 11 11 11 11 Scotch Blackfaced 6 6 > 6 G 6 Turkey average Mohair ... "...154 154 154 164 154 Cape firsts Mohair . 11J-114 114 Hi H* 70's Colonial tops... 26 26£ 27 27£ 27-h 64 Js „ „ ... 25 25i 26 26£ 26§ 60's super 24 24£ 25 25 J; 25 4 56's Colonial tops... J9£ 194 20 20§ 21 50's „ „ ... 16J 16* 17 17 17 46's „ „ ... 13 h 13| 14 14 14 40's „ „ ... 12 12 12* 12 J 12J 36's „ „ ... Hi 114'U* 11* HI 32's „ „ ... 104 10* 10f IC>s 10|