THE Wool Sales.

Otago Witness, Issue 2669, 10 May 1905, Page 23

THE Wool Sales.

LONDON, May 2. The Wool sales opened very strong, prices showing from par to 10 per cent, advance on closing sales of last series.

May 3. A joint catalogue of 8359 bales of wool, a representative selection, was submited to-day. There was a crowded attendance compared with the March sales. Merinos advanced fully 5 per cent., fine medium crossbreds 7£ to 10 per cent. Coarse crossbreds were unchanged, except by an occasional advance.

At the wool sales competition continues animated, and prices are hardening.

May 4.

At the wool bales the Moa Flat clip realised Is l£d ; Flat Point, 9£d ; Mihia, B|d. Competition was exceedingly brisk. There was a strong American demand for crossbreds" and best merinos.

May 5. At the wool sales the Omarama clip realised 9|d per lb.

The wool market is spirited, and prices show a further hardening tendency for merinos. The Americans are buying all superior crossbreds.

May 7.

There was spirited competition at the wool sales for merinos at full rates, whilst crossbreds are hardening. To date 47,010 bales have been catalogued, and 45,595 sold. The sales included the clips Canterbury, llf-d', and Oreti, Is lfd.

The New Zealand Loan and Mercantile Agency Company (Limited) is to-day in receipt of the following cable advice from its London office concerning the opening of the May series of wool sales — viz. : ' The market opened strong for aJI sorts of wool. As compared with last sale's closing rates, prices are highar by about 5 per cent, for coarse crossbred and merino, and by about 10 per cent, for fine and medium crossbred and crossbred lambs. There is a good American demand for crossbred."

The National Mortgage and Agency Company, has received^ the following cablefram from its London office referring to above sales, which opened on the 2nd May: "Wool sale opened at an average advance of 5 per cent, merino, all descriptions. Sales opened at an average advance of 5 per cent, crossbred, coarse descriptions. Sales opened at an average advance of 10 per cent, crossbred, fine and medium description. Strong Amerioan demand at higher prioes."

Messrs Dalgety and Co. (Limited) reports having received the following cable from its head office, dated London, 2nd May: — "Wool sales opened; fair selection; large attendance of buyers ; corncetition animated. As compared with closing rates of last series, prices for merino wools are at -par to 5 per cent, higher; fine crossbred w-jools 10 per cent, higher; medium crossbreds, 5 to 10 per cent, higher ; coarse crossbreds, 5 per cent.' higher."

Messrs Dalgety and Co. (Limited) report having received the following cable from their head office, dated London, 3rd May: " Wool sales continue firm, with an upward tendency."

The Department of Industries and Commerce has received the following cablegram fiom the Agent-general, dated London, May 3: — "There is great competition at the wool sales, there being a lai*ge American demand for fine and medium crossbreds of all grades, which have advanced Id on the closing rates of last sales. Coarse crossbreds of all grades and merinoes have advanced a £d. The market is much stronger." Messrs Dalgety and Co. (Limited) report having received the following cable from their head office, dated London, 4th May : — "'Wool sales continue firm. As compared with closing rates of last series prices for good greasy merino wools are 5 per cent, to 8 per cent, higher; other descriptions of merino wool, 5 per cent, higher; fine and medium crossbred wools, 10 per cent, higher; superior light, free descriptions of greasy crossbred wool, suitable for America, 10 per cent, to 15 per cent, higher ; greasy crossbred wools, coarse descriptions, 5 per cent, higher."