The Wool Market.

Oamaru Mail, Volume XX, Issue 6361, 16 September 1895, Page 1

The Wool Market.

The National Mortgage and Agency Company, Limited, report, per Sail Francisco mail under date London, August 9th : The fourth series of colonial wool auctions for the current year, which commenced here on the 2nd ultimo, was brought to a.close on the 30th ultimo, having occuoied 25 sittings with a daily average of 14,844 bales. It is estimated that about 357.800 bales were disposed of, 198,000 bales being taken for export, inclusive of about 60,000 bales for the United States of America. 31.000 bales were held over. The market from the outset was characterised by considerable strength, and although about the end of the second week competition slackened somewhat, it soon revived,, and with good all round competition the market closed at about its best point. The lead was taken by Home and American buyers, whose support all through was consistently.strong. Continental operators at first maintained a stiictly reserved attitude, but latterly they also came into the market. Prices for merino wool at the opening were generally about 5 to 1\ per cent, and with occasional irregularity, confined entirely to low medium and faulty staple, ruled this basis to the close, leaving prices on an average about 10 per cent, above May values. Scoureds at first were quoted at £d per lb dearer, ana gradually gaining strength as the sales went on, improved still another £d. Competition for crossbreds, of which Ihe supplies were very large, was extremely animated and prices hardened all along the line to the extent of 10 to 15 per cent. The finer grades in wasty condition, which were very depressed in May, showed relatively more advance in values than the same qualities in light condition, while bright lustrous wools of full length were from Id to l£d per lb dearer. Scoured moved much in the lines as grease. Sliped crossbreds, mostly of short'staple, sold at par to Jd per lb advance on previous quotations. At a meeting of the Wool Importers' Committee on the 25th ultimo, it was decided that-the fifth series of sales should. Commence oruthe 24th September, the sixth series on the 26th November (the list to be closed on the 22nd idem), the first series for 1896 on the 14thJanuary, and the second series on the all without .limitation as to £pntifcy. J c -