OPENING OF THE FOURTH SERIES. BOTH MERINOS AND CROSSBREDS AGAIN ADVANCE.

Otago Witness, Issue 2685, 30 August 1905, Page 8

OPENING OF THE FOURTH SERIES. BOTH MERINOS AND CROSSBREDS AGAIN ADVANCE.

More than usual interest seemed to surrcraid the opening of the fourth series of colonial wool sales which began last Tuosday; The reason for this is not far to seek, a^d is primarily due to the attacking attitude of American buyers during the vacation. The present generation of woolmen have' ncvor known such "romping' times in the wool trade, with the exception of 1899, and owing to the constant and I rapid improvement of values everybody expressed a desire to bo on the spot and ready for action Men also recognise the i wool trade, whi -h, to fay the least, is a difficult one, though highly satisfactory to the colonial wool grower. It is impossible for u=ers to face rising values as they have done this Ja?c year without feeling the pinch somewhere, and it is being asked on all hands if prices liavo not about i<a<~hed the top The interval ha 9 been ebaracieri-ierj by «ome real stirring time;-, due almost entirely to Ihe great wool purchases bf American wool dealers, prices also advanciug sensibly. Mere than once the present outburst of American euterjirife in the wool world has been christened as the '"Yankee bubble," but up to the present there are no signs of it bursting, and I hop-? ifc win continue to remain intacfc. There is no doubt /hat values have been pushed to an unexpected high level, but sufficient, in my opinion, has not been Tnade of the mightiest foroe of all —supply and «lema?id. As an evidence of that we have only 10 selling days, compared with 20 to 25 selling days which used to be tho average of a July series. It seems to ne that the days have gone by for many years to come when a July series ig going to occupy more than a fortnight, for the bulk of the Australian clip i 3 going to be tackled in Australia jind the fh'st three scries in London. In other words, it is going to be a question or having a surfeit .he first six months of the wool year, and starvation the other. However, men faced -"-he July series very light-heartedly, and if prices are high a,nd wool bad to buy, feLill everyone .felt that they must have .a bit, and as ihe quantity available was small, a lively tim-o was certain. The present is a record series in point of duration for the July a-uctions.