THE WOOL MARKET

New Zealand Times, Volume XXXI, Issue 6870, 14 July 1909, Page 3

THE WOOL MARKET

FINAL LONDON SALES. That-the current London sales liayo ceea prices maintained at such a satisfactory level is a. gratifying indication of the strength of the market. The wools offered at tho final sales of a seaton arc generally of an inferior de«ciiptiouj in fact, the average quality is so poor at the final sale that it is tho common practice to utilise the fact in oruor to depress values for the opening sides on colonial markets. All the better clips are disposed of in the heignt ot tho season and only the shabbier, heavily-conditioned lots remain for subsequent auctions. It is a well-known fact taut tho principal operators on the market do not concern themselves with tho fast sale or two. These are thus left to the small fry and the speculators. It is thus easily to be conceived that advantage is taken of the absence of the" men of purchasing power to set a lower range oi values, especially when wool has been selling under keen competition at full rates and few opportunities -have been afforded those on the outskirts of cue trade to. do much business. If growers in this country marketed all their wool at the'seat of production such opportunities of. juggling with the great staple product would not exist, it has been suggested time and again that the last London sale of the season should bo dropped. ■ the interests of tho new clip it is imperative that it should be, Tlib London broker, however, is a conservative gentleman, and as long as ho is sent wool to sell he will sell it, though if he studied the true interests of his colonial clients ho ■would at once agree to deletion of the final small and unsatisfactory sale from the series.