LONDON WOOL SALES. (From Our Own Correspondent.

Otago Witness, Issue 2705, 17 January 1906, Page 7

LONDON WOOL SALES. (From Our Own Correspondent.

! LONDON, December 1. OPENING OF THE SIXTH SERIES.— MERINOS UNCHANGED, COARSE CROSSBREDS SLIGHTLY LOWER. Another chapter has opened in the history of the colonial wool trade, and a good record is being written. There never a time when the eyes of the wool world looked so intently upon the situation as at present, and, owing to so much feting at stake, users are manifesting more than us.ial concern. The vacation has been, characterised* by somewhat easier prices in consuming centres, but this has chiefly related to future deliveries of both merino and crossbred tops. Business has been very restricted simply because of the absence of any weight of w«ol, and perhaps no series ever began with stocks so light as they are to-day. Manufacturers the last six months have cut down their requirements as much as possible, in the hope that when supplies become more plentiful prices would begin to ease. The present series began with hardly a representative of the trade wanting, buyers being on the spot through sheer necessity, everyone feebng that lhey_ must get something in order to keep going. Scores of woolsorters have had to cease work, not because their masters had no trade, but because they had no wool, and were not disposed to buy any second hand when the sales were so near. The trade turned out en bloc, as was generally expected, though as one went round valuing it was difficult to gain a consensus of opinion as to how prices were likely to move. It seemed pretty certain that fine wools would maintain September rates, though low crosebreds were spoken of as "the dark horse." Personally I could see little change in these, because of the small quantity that was available. Some said that even merinos would fall id in sympathy with colonial "markets, where some seem to think values are not on a- par with Coleman street. I must say that certain well-known marks, particularly from Adelaide, which have been cabled Home- look cheap, and below what the clips would have sold for this week in. London. I am throwing no mud at Adelaide sales, but a big clip cabled Home- this week as making lOd was sold last January in London, and made for the .greasy combing ewes up to a shilling, several lots selling at Hid and lid. Since then London has improved a penny per Ib, thus making the clip look very cheap. It is contended that importers who have agreed to deliver their super 60's tops at 25 2 d should know their business, void it is

pretty certain that they would not be doing this if they could not cover. ■ INCREASING QUANTITIES AVAILABLE. Great satisfaction is expressed at increased quantities of wool being available, and it is generally supposed that the days of pinch have now passed. As to whether or not the increased quantities which are to be expected from Australia will iill up the world's needs remains to be seen, many supposing that every available bale will be absorbed before next shearing. There is no question of a doubt that stocks are completely exhausted, and with trade being good consumption will continue extremaly large. Trade not only is good here in England, but also in America and on the Continent there is no complaint, this meaning that consumption is going to take off the market supplies as fast as they arrive. The following table shows th/e quantities available at the NovemberDecember series for a number of years back : —

Some seem to fear that next year, when supplies become adequate. prices will show a reactionai'y tendency, but I personally cannot see how values will fall a great deal. We are to-day so near the sheep's back that with the present and prospective good trade mills will require some big weights of raw material ; hence we are not likely to see a great deal of change. Wool to-day is selling very well, and there is little to indicate weakness anywhere. Notwithstanding a big strike in Germany, buyers from that quarter are taking wool freely, and this is a most encouraging feature, showing as it does the confidence men have in the present standing of the raw material. A GOOD START. Before a very full room the final auctions for the current year began last Tuesday, ■when every section was represented, including America. The catalogues were much better than usual, and contained some good marks of new clip wools, which were very keenly competed for. This caused buyers to put on one side any little reserve which they might have had, and everybody seemed to work with a will. The new wools were certainly in splendid condition, and everyone expressed pleasure at the prospect of good wools for the coming year Punctually at 4 o'clock the sale began, and from the start there was evidently lacking nothing to give zest and interest to the whole proceedings. Buyers seemed to work with a will, and many a desperate ■sffort was made to obtain wools that were fancied. Competition was in no sense one-sided, even the Home contingent bidding freely. New wool always suits admirably the Continent, and Germany in particular was to the front. They seemed to pay special attention to both Queensland and New South Wales wools, though the Home trade ran them very clq^b. Frenchmen were fairly busy, but their limits in some oases were a little too low, and this reduced their competition. Bradford topmakers were well to the front, and anything that was sound and ehafty .came in for plenty of support. The initial sale passed off in a first-class way, the result being that good sound merinos were on a full par with September closing values, inferior descriptions tending occasionally in buyers' favour, but anything really good made fully up to last sales' rates. The same can be saW for fine and medium crossbreds, though coarse qualities were down id. South African wools were likewise on a par with last sales' rates, excepting for badly-conditioned parcels of scoureds. The results seemed to please everybody, and all felt that the series had made a good beginning, and everything bids fair to go on well. Since the opening good sound progress has been made, and full opening- rates are readily forthcoming. America is buying good, light-conditioned parcels both in merinos and crossbreds, and, as far as one can see, the future of the series is assured. If anything, coarse crossbreds are the turn dearer, but these can hardly be quoted up. The position is very sound, and nothing is hanging fire. Sold by Messrs Charles Balme and Co., November 26 : — -Kaitoi : Grease — 2 bale 3 first ccmbing 9^d, 8 first halfbred do 12£ d, 9 crossbred do withdrawn, 7 do 10id, 3 do 9d, 2 threequarterbred do lOJd, 3 crossbred pieces Bd, Bdo 6d. The merino was very heavy in grease, though fine and sound. The remaining lots were just the ticket for Bradford, and sold very freely indeed. Sold by Messrs Ja.comT>, Son, and Co , jNTovember 29.— Heart: Grease— 7 bales Eomney 12d, 12 crossbred I2kd, 20 do lljd, 32 do lid, 11 do lambs' lljd, 2do 9Jd Nice wools, showing good character, good "style, first-class quality, and in good order. Brancepeth over B . 6 bales slipe first crossbred MJd, Bdo 14d 4 do lid. Tidy little lots, which sold like fury. Annedale . Scoured— 2 bales first piece? crossbred lid, 2 stained do lOJd, 6 locks lid, 11 grease do 7Jd. These were rather poor; will need dyeing before they can be used. XXX : 2 bales scoured halfbred fleece 16d, 2do pieces 13d, 3 do tihree-quarterbred do lid, 2 slipe merino A 13d, 2 do B 12Jd, 4 do threequarterbred 14d, 2 do crossbred 12d, 3 do B lid. Just average lots, good quality, but will n«ed scouring and extracting before they can be put to ajiy purpose. S.oia fc y Messrs HL Irwell ajicl Co , same day:— CMCL: Slipe— s bales halfbred 16d, 6 three-quarterbred 15jd, 9 Leicester 14d, 6 do 13d, 4 do second 115 d, 8 third crossbred 9£d, 2 halfbred lambs' 15Jd, 2 do 13d, 2 do Hid, 3 do lljd, 3 -washed crossbred Bd, 3 do second 7d, 18 do 7d. These were good slipes, which found Yorkshire buyers very mucli at home. They Elbowed good character, and were in nice condition. COURSE OF PRICES. The situation in the Home market shows little change, everyone waiting to see the outcome of Coleman street. There is every likelihood of everybody endeavouring to pick up something, wool stook being badly wanted. More than usual interest seems ito centre around the future course of values, and' men's views were never so divided as they are to-day. Yorkshire users ardently long for lower rates in every quality, but nobody can. see any serious fall. There is no question of a doubt as to importers picking up wool on a lower basis in Australia than what are current prices here, and in super 60'e tops especially some fairly big weights have been sold forward for next year's delivery at 2s l£d. It is hard to believe that they would do this if they could not co\er with the ra}v

material. The following table shows tie course of values during the past month: —

Description. S o o ~ 14 124 J2J 12* 13 131 12} 14 131 131 14 13? 133 12} 8 16} \ 16 S6 21* 16 15J 25J 55 o I a 1 d. 13J 12} 12^ 32ii 12J 12 131 I 12* 14 J? 14 13} I 131 ,| S 16} 16 2K 25i 21" 15? 151 25} o O d. 14 12} J2} 12} 13 a 12} 14 13} 13J 3-25 Mi !? 13} 12| 8 16} ! 26} | £6 21 161 ' ■15} ! 26 ] a [ iucoln hogs ... „. ... Lincoln wethers Deep-giown hogs ... ... Deep grown wethers „ White super hogs White super wethers Irish h"gs [riah weihers Shropshire hogs Shropshire wtthers Drdinary halfbred hoffs ... Ordinary halfbred wethers Wiltshire Down tegs Wiltshire Down ewes Beat iNorih hogs Yorkshire hogs Kent wethers... 'cotch blackface Furkey average mohair ... Dape firsts mohair .. Super 60*8, colonial tops ... Drdinaiy Bs.'s, colonial tops L)r<iJDary 50'e, colonial tops Ordinary 40V, colonial tops Ordinaty 36's, colonial tops Ordinary 6'o's, Buenos Ayres d. 13J 12* 12* 121 121 I 13J 13 12} 14 14 13f 13i f 16} 16 26 25} 21 16 13* 25}

- JtSales 1905 1904 1903 1902 1901 1900 1899 *« 107,00< 79,00< .. 84,50! .. 101,00< .. 233, 00( .. 366,00< .. 106,001