THE WOOL MARKET.

Otago Witness, Issue 3488, 18 January 1921, Page 13

THE WOOL MARKET.

LONDON WOOL SALES. LONDON, January 11. The wool sales have opened. Only one-fifth of the offerings were sold owing to the maintenance of Government reserves.At the wool sales 10,131 bales were offered, including 1356 from New Zealand. There was a large attendance of Home, Continental, and United States buyers. The sale was a failure owing to the Government reserves being' far above buyers’ ideas and world values. Under 20 per cent, of the offering was sold, generally at prices on a par with the December closing rates. Sir William Raynor (president of the B Livers’ Association) publicly protested against the offering of wools without any attempt to meet t*e market. He demanded either that the sales should be stopped or that the sellers should meet the market. About 3000 bales of free Puntas wool from the Falkland Islands was offered, and it met with good competition. Seyenty-five per cent, was sold at about the December rates, sellers meeting the market when necessary. At the wool sales there was a very good selection of merino and a poor lot of crossbred. The reserves were unchanged. Only 13 per cent, of the offering sold. Several buyers left the saleroom disgusted!. January 12. At the wool sales there was a poor demand. The Government reserves were lowered by 5 to 20 per cent., as compared with the last sales, mostly on average and shabbier sorts, but the reductions were insufficient to tempt the market. Twenty per cent, of the offerings was sold. New Zealand 1A brought 13d a pound. January 13. At the free wool sale there was good Homo and Continental competition. Practically all offering was sold at about 10 per cent, below reserves in Government sales. There is rather more inquiry iu the Bradford market. Topmakers’ quotations have hardened. Sixtyfours are quoted at 51d to 54d. Crossbreds are irregular. Murray, Roberts, and Co. have received the following wool market cablegram from London: —“Sales opened; poor competition owing to too high limits; practically nothing sold; market declined 10 per cent, all round; anticipate better competition free wool, January 13.” Dalgety and Co. report having received the following cable message, dated London, January 11, 1921:—“Attendance of buyers is large, selection good. Owing to Government limit being above market, there is scarcely any competition. Ten thousand bales were offered, and less than 20 per cent, were sold. Prices nominally were 10 per cent, lower, as compared with last sale’s closing rates. There are orders in the market for America; expect free wool will meet with better competition.” Murray, Roberts, and Co. have received the following wool market cablegram from London, dated! January 13:—“Free wool sales to-day, better competition, good Continental demand' for pieces and bellies compared with last free sale pieces and bellies. No change in all other descriptions, which declined 10 per cent.” SYDNEY WOOL SALES. SYDNEY, January 11. The wool sales will be resumed on January 31. The series will comprise 120,000 bales. CHRISTCHURCH WOOL SALES. CHRISTCHURCH, January 14. The third wool sale in Christchurch since the commandeer was held to-day, when 21,784 bales, compared with 5888 on December 7, were offered. The bulk comprised! wools of 46 count and over, a number of station clips of balfbred and merino wools being represented. There full bench of Home and colonial buyers. Values for merino were practically the same as at the recent sales, and super hall’brcds showed an advance by about 10 per cent., or over Id per lb, except for a few choice lines of three-quarterbred and fine crossbred. These grades showed no improvement, and coarse crossbreds met- with spiritless competition, selling at lower rates than previously. The bulk of the lines passed in comprised the lower grade wools, there being a clearance up to the dinner adjournment this evening of quite 75 per cent, of the finer grades. Southern woollen firms secured practically all the good merino offered, Home buyers and fellmongers taking the balfbred. Throughout a much healthier tone was displayed than at the preceding auction. Super merino brought up to 18’tdi, a choice lot of North Canterbury haifbred to 17)d, a few lots of super three-quarterbred to 12Id, Corriedalo to lojd, two special lots of fine crossbred to l(>td and lid, and Southdown to lljd. The sale is being continued this evening, and will conclude in the morning. The following is the comparison of values at the last sale and to-day’s:

January 13. The last catalogue of the current wool sale was sold this morning. Bidding was rather slow. One lot of Rydal Downs Corrisdule ewe fleece reached 17d, and one lot of the same brand, Corriedale hogget, was passed at 16|d. Corriedale pieces from the same clip were passed at ISJ-d, and a Southdown ewe hogget was passed at 10|d. A choice line of three bales of super three-quarter-briid (Stony Bea) majle 15hi, the top price of the sale for t h recqua rter - bred wool.

58’ s to 64’s. Foe. 7, 1920. •Tan. 4, 1921. Super merino 16d tol8id 16f d to 181d Medium merino 18-fd to 15fd 14 d to 16Id 50'. s to 56’s. Super halfbred .. 13Jd to 151d 141d to 17}d Medium halfbred ltd to 13d 12d to lid Inferior halfbred 9d to 10id 9d to Hid Corriedale — Southdown — 8fd to 11 fd 4G ’s to 48’s. Super f-bred 9}d to md 9fd to laid Medium f-bred .. 7d 1o 9d Inferior .. ofd to 6fd 4Jd to 61d 40 s to 44’s. Super crossbred 7d to Old 7'd to lid Medium crossberd 5fd to 61 d 5id to 6id I n fe r io r c roe s b red 4 Jd to 5pi 1 Longwool — Old to 7id Pieces and Locks. First halfbred pieces lid to 13d Secon d halfbred pieces 8d to lOpt Three-q ua rterb red pieces 5 Id to 8pi 5d to 7J d Locks 3d to 4d Crutcliings .. 3d to 7fd .‘tpl to 5d