THE WOOL MARKET.

Otago Witness, Issue 2167, 5 September 1895, Page 12

THE WOOL MARKET.

{Sydney, August 27

Wool mtmbants, inUrvitwed with reference to Mr YouDg'a cabled opinion of tbe prospects of the wool trade, consider the forecast altogether too optimittic. The cable, they 8»y, is really a oase of special pleading for the London market, and is iotended to give Australian woolgrowera such a view as not to sell locally, but ship on the strength of the rise continuiog throughout 189 G. The outlook undoubtedly is most favourable, and indications point to

further improvement ; but Mr Young is not reckoning on the contributing cause?, and it la impossible to predict. It would be bad policy for growers to ship all their wool to Londorj, as better prices ought to be expected locally ; and it ie a noteworthy fact that the rise in Kngla&d is generally anticipated by eoveral weeks iv the colonies. Piicas depend largely on the continuous improvement of American trade, to which tbe rise is mainly due. If the American demand continues as strong as at present and is promised, no doubt tbe expectation of an improved market will be realised.

September 2.

The local wool market is fully responsive to the rise in Europs and America. B-averal sales recently of scoured have taken place at Is 23 and Is 3d, whila a laige parcel of super scoured was disposed of at Is _d, the hignest prices realieed for two years.

Messrs Dalgety and Company have received the following cablegram from their head office, dated London, 26th August :—" The wool market) is very firm, aud prices are &. Bh*de higher than closing rates of last sales. Tbe s*les by private contract between the series amount to 1100 bales."