WOOL SALES.

Otago Witness, Issue 316, 19 December 1857, Page 3

WOOL SALES.

The third series of colonial wool sales for the present year, which closed on the 22nd August, were conducted with great animation. The attendance of buyers, especially of foreign brokers, was numerous, and the prices realised have been very firm, and on the average a considerable rise in prices was maintained. We have been favoured with the following report from Messrs. Hazard and Sons: — Prior to the opening of these sales, owing to the satisfactory state of trade, the position of the market, the prospects of abundant harvests at home and abroad, and the greater ease in the money market (which was further evinced by a reduction in the Bank rate of discount coincident with the commencement of the sales), a general feeling existed that an advance on the current rates of the June sales would be obtained, and which was immediately realised by a rise of Ifd. to 2d., and as the sales progressed increased buoyancy was observable, and a further advance of -jd. to l^d. was in the course of a few subsequent days fully established ; thus making the aveiage advance 2d. to 3d. per lb., at which they have been maintained to the close with marked regularity. The attendance of continental buyers was large, and the support given by them considerable. The quantity taken for foreign account may be estimated at about a fourth of the entire quantity sold. As compared with last year, up to the present date 10,000 bales more have been sold in the present, to which increase Port Philip contributes 6000 bales, which may chiefly be accounted for by shipments from that port in particular having taken place earlier than in the previous year ; but it is evident that the demand is-more than keeping pace with the supply, and that there is ample room for greater increase than is likely to occur without any detriment to prices. Wools of good quality, in good to superior condition, underwent the greatest augmentation in value ; the advance on such may be quoted at 2§d. to 3^d. per lb., which also applies to scoured wool. Heavy conditional wool rea'ised Id. to 2d.advance ; lambs', wool, l^d. to 2£d., and greasy wool participated in the rise to a similar extent. Cape wool ' is lsd. to 2d. per lb. dearer. , |

, The condition of the wool from Sydney, Port Philip, Tasmania was generally satisfactory,, bnt some flocks were heavy in condition, and much troubled with grass seeds and burrs. Of the South Australian a very large proportion was in the grease, but which was in great request, paiticularly for the continent. The Cape wool generally was of fair average quality. The New Zealand, while continuing to show improvement in breed, does not exhibit a corresponding improvement in assortment and regularity of packing, which also may be said of the Swan River wool. The following are the prices of New Zealand wool: — New Zealand, 5290 bales. Fleeces, Is. 3d. to 2s. 3|d. ; lambs', Is. 3d. to 2s. Id. ; scoured and handwashed, Is. Si. to 2s. C^d., five bales at 2s. Bd., one at 2s. 9d. ; unwashed, Bd. to Is, 7d.