THE WOOL SALES.

Otago Witness, Issue 2924, 30 March 1910, Page 22

THE WOOL SALES.

; LONDON, March 21. An inferior selection was offered at the wool sales to-day, but nevertheless prices were well maintained. March 22. The sales included the following clips:—Ellerslie, top price 15d, average Hakaterina, 14£d, average 13,|d ; Pare, ll£d, average 10|d. The April sales will be limited to 160.000 bales. At the wool sa.les prices for merinos are unchanged, but these for crossbreds are a little firmer. March 23. The Pihana clip realised up to ll£d per lb, the average price being 10£d, and the Tawapata clip sold up to the average being 9|-d. March 23. > The wool sales have closed. Competition was strong up to the last, and top prices were obtained. ' March 24. During the wool sales 78,500 bales were sold for the home market, 45.000 bales for the Continent, 8000 for the United States, and 8500 were held over. Merinos, which closed at an advance of 5 per cent., have been especially in demand,- and fine crossbreds generally have maintained the January rates. The firmness is due to strong homo competition, but the United States, supported the -best parcels. Medium and coarse crossbreds were Id cheaper owing to the lack of American demand. Average topmaking sorts, were somewhat irregular. In the earlier part of the sale they sold better, but lately they have been practically unchanged. Scoured slipes were Id dearer. Lambs sold exceptionally well at an advance of 5 per cent. The sales included the following clips : Toroa—top price Is, average lOgd; Mahia —top price Is, average 10^d. THE JANUARY SALES. WELLINGTON, March 23. The Minister of Industrie's and Commerce has received the following report, dated February 4, by the Produce Commissioner, London, in regard to the first series of wool sales, which were held from January 18 to February 4 : " Throughout the. sales there has been Tseen competition for all lots offered. Buyers from America and from the Continent have bid against Home manufacturers for all lots in any way suitable 'for their requirements. The latter have good orders in hand, and the stocks of wool held by them are of short compass, "having been steadily drawn upon in flie course of manufacture. Prices throughout the sale have been firmly maintained. There i* *>«* an accumulation of stock,

T nor likely to be, especially as, owing to ! the dry season rxperienced, there is a : shortage expected in the shipment of wool from the River Plate. This season the position of wool is distinctly favorable. The classes in which there has been the greatest competition during the present sales are heavy, medium, and coarse crossbreds, especially the latter. ! This caused Continental buyers requiring these chiefly to enter more keenly into competition with British manufacturers for them than other classes - . American buyers prefe* bidding 'ighter wools. It is noticeable that, a feature of the present sales is the great improvement found* in the quality and get-up of the wool from South Africa It is' evident that the attention that is now being given. there to the improvement of flocks by judicious breeding with a view to entering into the frozen meat trade is beginning to _ tell. _ Care, apparently, is also now being given to wool-classing, so that it would seem as if in a few years New Zeai land may have to reckon upon new and I; increased competition from the South ! African colonies There have been a con- | siderable number of South African clips | offered during the present series of wool sales that have shown this marked improvement in quality and get-up. Buyers have been commenting favourably upon them.

The High Commissioner cabled on March' 23:—"The wool sales closed firm, with good competition, especially for fine merinos by Continental buyers. Trade is. good, and likely to continue so. American buyers are very cautious and operate very moderately. The following aro the estimated values:

New Zealand greasy wools. superior merinos, 13d to 15d; medium merinos, to 12£d; inferior, 8d to lOd; fine crossbreds, 13£d to 15£d; medium crossbreds, lid to 13d; coarse crossbreds, 9d to lid."

The Bank of New Zealand has received the following cable advices: —"The sales close firm for merinos. Total quantity held over 9000 bales, of which 7000 bales are New Zealand. The sales close irregular for crossbreds. Current prices for North Island farmers' lots, Palmerston North style: Coarse crossbreds, 3640's ouality. average condition. 10id to lid : medium do, 44-46'a quality, average condition, ll£d to 1?.4d: fine do, 50's quality, average condition, 13£d! to 14? d per lb." The New Zealand Loan and Mercantile Agency Company is in. receipt of the following advice bv cable from its London office, under date 24th inst. :—" Sales closed with good competition; 6000 bales taken for America. 46.000 bake for the Continent; 130 000 bales sold, and 10.000 bales were held over. As compared with last sales' closing rates, orices are about 5 per cent, higher for medium and inferior merino, scoured super merino, lambs, and fine and medium scoured crossbred; about par to 5 per cent, higher for greasy merino super and crossbred islipe. and about the same for coarse scoured orossb-ed and fine greasy crossbred The following descriptions are lower: A bout 5 to 7£ per cent, for coarse, greasy crossbred, and about 7£ to 10 per cent, for medium greasy crossbred.^ Messrs Dale-ety and Co. renort having received the Wowing cablegram from their b'Sfld office, dated London.' "Matron 23: Sales closed firm. As with last season's clos'nnr rate?. Teasy R'-per merino wools unchanged. H«w. enrthy. and wastv meriroo wools unohflnisred. Greasy merino wools of other descriptions S to ner cent. higher. Scoured merino woolsi 5 per cent, higher. Oreasv crossbred wool o , fine quality, unohannwl. Greasy crossbred, medium and o.mr?e quality. Snitaibfe for America, 5 to ""0 ner cent, lower. 'Other crossbred wools cf medium aasd roars© quality, 5 rjer cent lower. The totaJ quaatitv available for sale amounts to 139.000 bales, o' which bales were, sold to America. 78.000 for Home consnmotiorr, 46.000 to the Continent; 3000 bales were not offered, and 9000 bales have been) carried forward to next series.