LONDON WOOL SALES.

Otago Witness, Issue 2923, 23 March 1910, Page 8

LONDON WOOL SALES.

'From Ottr Special Correspondent.) LONDON, February 4. PRICES THE TURN DEARER. The first series of colonial wool sales are just on the point of expiring, buyers to-day putting in theit last appearance until next March 8. This hac been a fairly long series, but on the whole it has been an enjoyable one. The weather has been. a bit rough, but it is mid-winter, and anything can prevail here in England from November to the end of February. Howevei, the light on the whole has been decent, that being about the best asset, next to a thumping good trade, which wool buyers can have. It is quite true the sales are finishing in a »plendid way, although to South Australian - woolgrowers things might have been a shade better. The missing link of the whok ; series has undoubtedly ibeer an absence of American competition, and a good many clips have suffered financially in consequence. , One never knows "what United States buyers are going to do. It is hard to say whether or-no their buyers have supplied all their wants in. Australia, or whether the bulk of the American trade it running on crossbreds and not merinos. I heard one of their buyers say that at ohe moment they only want crossbreds from 40's to 50's quality, fine luerinos being somewhat slow in demand, both in yarns and piece goods. I strongly incline to think the real cause of their absence is that they ' have covered all . their requirements for- the next few months in Australia, and they are 1 going to wait and see if they can do better later on when they have landed and consumed the wool bough' in the colonies. PRICES CONTINUL VERY FIRM. > Throughout the week each day's sittings iaave been characterised by. a continued large attendance, all branches of the trade being welJ represented. Taking things a/3 m whole the situation is very sound and bealthy It must be said that the way the catalogues have been cleared is indeed creditable, and the prices paid are also satisfactory. Wool cannot be called extravagantly dear, although prices are fairly high, yet the raw material is not beyond the point where it can be turned to good uceount by the various branches of ;he trade. Frequently | have comments .been, made at _tbe- extensive operations of the Continent. and no doubt many people have been covering contracts without anticipating any cheapci wool. When all things are taken into consideration there must »xist ' some large contracts which can only be supplied by big weights of the raw material. The daily withdrawals have been fewer this week than during the two. previous -weeks, and instead of selling brokers oftentimei experiencing Id less bid for a few lots of wool, they have been able to realise theirfull values ' Several lots that were taken in the first week have been re-offered, and •jpealieed the £d extra which brokers were wanting What continues to sell the best if- undoubtedly the - well-grown, fine combing merinos, anything at all short of quality still making no. more than the best of last week's rates.. AH fine. clips from New South Wales, Queensland and Victoria have gone off splendidly, and the last few nights ,even shafty . Adelaides have done a shade better, -while West Australian wools havje also done splendidly, the home trade supporting the latter right through the Series in a most remarkable way. Swan River grease has-been very largely offered, and considering the earthy nature of many of the clips, they have dope splendidly. Scoureds have also fared better, and here, too, full last sales' prices are now. being, paid, Russia Having come into the market. r XCREASED COMPETITION FOR ..CROSSBREDS. . 1 Vie. way crossbreds are selling is very satisfactory, and here American competition hae been a very valuable factor. The conditior of the New Zealand clip this seaeon was sure to bring out th€ best buying power of the whole trade, and United States operator have taken large quantities of 40's to 50's wool. The. show of New Zealand produce, is.indeed a splendid one, and both the home and American trades, are appreciating., it very finely indeed. What undoubtedly is. making the best price is 40's to 50's produce, and here ail sections of the trade are operating. The incoming of the American section for 40's to 44's wools is rather an innovation, and this has. put Yorkshiremen oir their metal. It is still possible to buy a good average 40'< prepared top in Bradford" at 15d, but -J*,< aJi& . F el tairi they cannot be.made,out of London bought wool. at. anything like the "price. America has been'more disposed this week to 'pay fractional advances tnan during -the first ' ten .days' of the series. Here and there" they have failed to follow up a few good .lines of halfbreds, but more lots have been taken in the region of 14d to 16£d than obtained during the opening week. After all good crossbred wool at anything .over ,13d per. lb -cannot be grjimbjed at, -and the -bettei ■ prices; which.'teemed ito .obtain, (towards., the,, weefc.+have.-.heeii: well maintained. \'*i;faefev -lines -of \';new.:clip'''<iYCols'..'fro;m BantaArenas haveV.alsb sokt' at.r¥d?!t<s Id ;m«r.e". than last series; and I for ■ ■■ these"'thiere :is to-day an exceedingly kee-n demand'at the hands of home, Continental, and American trades.. Crossbreds.in every, quality "are dping'; splendidlys'... :- '

HIGH PRICES FOR LAMBS. Quite a feature of this series, is the high prices for good lambs, both merino and crossbred, whether grease or scoured. For specialities fancy prices have been forthcoming, and the figures realised clearly show tha* (ip-top parcels command high rates. Foi instanoe, West ViclVian lambs as usual have sold the best, and buyers know full well that 'we shall i?ee no more of these until next Tanuary, when Australia's new clip becomes available. The Langi Willi warrr watei washed lambs have made the handsome price of 4s o£d per lb; Ercildoune lambs 4s; EO super lambs 2s 4d Tor greasy; NB over Trawalla Is B£d: S. Wilson over Mount Bute 25.; Wilson over Mount Emu Is 6d ; JM over M over Moranghurk Is 6^d; while the first lambs (grease! marked EO sold at 2s Id, Is 9d, and Is 6d —prices which certainly are a treat. There is no doubt that for months back nice, fine, clean lambs have been a scarce commodity, and they have been about the dearest article on the market. We rather incline to think there is a prospect of'a few more being available during the next six months ; in fact, it will be a thousand pities if they are not. Big, broad-haired Adelaide lambs don't make the price that either Victorian, New South Wales, or Queensland lambs do, all because they are not as fine as the principal users require. When it is remembered that • lambs are mostly consumed in the fine hosiery trade, for flannels, and for fine spinning in the woollen trade, the reader will see that quality is a very important essential. Then, again, the cleaner and freer from shiv, burr, and seed, the more useful they are. Nobody likes to carbonise lambs, simply because it at once partially destroys both the colour and handle, while it also to some extent diminishes'the finishing property. Lambs' wool is to-day a very valuable article," and always will be. - Sold by Messrs Thomas and Cook, January 26.—Okirae: Greasy—Eleven bales super Remriey 14d, 16 do 13id, 11 do crossbred 13d, 28 do 121 d, 16 first" do, 28 do ll|d, 4 A do lOid, 14 first do 9d, 11 do bellies B|d, 5 do locks sd. Anchor: Greasy—Twenty-nine bales super crossbred 73d, 18 do 12Jd, 70 do 12d, 98 do lljd, 4 do lOJtl, 11 do pieces B£d, 5 do Bd, 17 bellies 9d. Tauiane: .1 Grease—Thirty-four bales super crossbred 16Jd, 34 do 17d, 15 do 14Jd, 63 do 14d, 33 super do 14d, 14 do 13Jd, 46 do 14d, 46 do 13Jd7 6 do 12£d, 4 do 12d, 8 do 12£d, 9 do 12d, 6 do 12Jd, 4 do 12d, 13d, 30 first pieces lljd, 23 do bellies IOJd, 14 second pieces 9d, 19 first lambs 13Jd, 7 second do lOd. - Sold by Messrs Charles Babiie and Co y January 31. —Tauroa : bales AA crossbred combing 16id, 80 A do 15d, 23 B do 14Jd, 42 do 14d, 8 C do 13id, 25 do 13d, 31 D do 12d, 3 M do 12d, 3 M do IOJd, 6 first crossbred pieces IOJd, 8 do 9Jd, 5 do bellies 9£d. Greenhill: Grease—Eleven bales A crossbred combing 14Jd, 9 B do I3|d, 6 do 13£d, 14 C do 13d, 37 do 12Jd, 4'JD do 12d, 15 E do 12d, 41 dio 11 Jd, 7 do IQJd, 15 first crossbred pieces lOd, 12 do 9jd, 12 second do B|d, 11 bellies BJd. Sold by Messrs Jacomb,' Son and Co., February I. Tenakoe: Grease —Twenty-five bales A super half bred 15£d, 14 B do 15d, 6 do 13d, 15 A do crossbred > 15Jd, 76 do 14d, 55 B do 13Jd, 12 do bred 12£d, 18 do ll|d, 3 Romney lljd, 38 first pieces crossbred lOcl. 10 second do 9Jd, 17 bellies do 9|d. '.. ' -.. ...'..■ CONDITIONS QUIET, BUT PRICES - STEADY. ••■'■• Business cannot be called anything but quiet so far as Bradford is concerned, and on the whole prices are steady. The change is considerable when one , contrasts Coleman street with WorstedopolisJ and on the surface it seems a little strange that wool should be selling 6o strongly in London . and Bradford so quiet and unresponsive. To be very candid, one can buy either merino or crossbred tops at exactly the ?ame price they could before the sales began, and Bradford is still the cheapest . market in all the' world. The most satisfactory, aspect of the trade continues to be the free way spinners are taking in supplies, ■ and" there is here as great activity as ever. The market seems now to bs passing through one" of those periods of quietness which is but natural after a spurt of buying, and it, is very strange " that any • importance should ,be attached tc the slowing-down that is everywhere seen. . It only. needs- a -moments thought for any man to see that users cannot be always operating, and as the majority have now fixed up contracts which will seo them busy for some months to come, they, are disposed to await developments and see. how thingt are going- to shape. Wool v is pouring into the market in considerable quantities., and for the next three months direct arrivals will be heavy: .set,. ,in view: of the large-sales of tops, and yarns, we d 0... not anticipate any serious set-back, although some are. hoping that the - heavy arrivals wijl cause a. slight ease. We rather incline tc think that many .large users- are playing that game, for .all they are \vortb, and.they are hoping by abstention from buying to see prices somewhat affected. However, the way.wcol is going in .London, shows conclusively the. actual position of.the. topmaker and manufacturer, and the free absorption of supplies is-tell-ing its,, own... tale. - We strongly, incline to think the .former, have, sold forward- larger quantities of tops than is generally supposed, and that all the wool they can pick up will bo wanted to carry out their engagements. .Merinos are steady, but they are not making more money than recently. The same can be said for oros.sbreds. It .-has to be a very superior 40's prepared to fetch more than -15 id. . and plenty say they can buy at less... Several are doing their best to jtalk things down, and generally" speaking there is m?'- a great deal doing in jither 40's, 46's, or 50's. Spinners are.'all very busy,, and '.'particulars" are cpniing to "hand freely. Mohaii shows no change,, the business doing being hand-to-mouth, though prices are steady ',,ll' round.