THE WOOL MARKET.

Otago Witness, Issue 3495, 1 March 1921, Page 13

THE WOOL MARKET.

BRADFORD MARKET. LONDON, February 21. Bradford market quiet; practically no business on home account. LONDON WOOL SALES. LONDON, FeEruary 22. At the opening of the wool sales there was a good attendance, and 7315 bales of free wool were offered. There was a good average selection of merinos, of which 75 per cent, were sold at from 10 to 15 per cent, below the last closing rates. The decline was most marked in inferior and shabby sorts. There was a poor selection of crossbred, mostly suitable for the Continent, which declined similarly. Six thousand one hundred and ninety-nine bales were offered on behalf of the Wool Realisation Association, the reserves of which were slightly higher than those for the free wool, and it was not quite in such good condition. About half was sold. The average realised for crossbreds showed fully 10 per cent, decline. The lower sorts did not sell. A few lambs were offered, but were withdrawn. February 23. At the sale of the Wool Realisation Association's wool selection merinos and crossbreds reserves were slightly easier. Seventy per cent, sold at about yesterday’s rates. The withdrawals were chiefly very burry sorts and low crossbreds. February 24. At the wool sales to-day half the offering was free wool and half the Realisation Association’s wool. Merinos suitable for America were firmer, and under competition from ill© United States combing- sorts were mostly cleared, though the prices were unchanged. Faulty sorts were withdrawn. Good new slipe crossbreds were cleared at full opening rates. Others were unchanged. Clothing slipes were firm, while combing slipes were mostly withdrawn. The Bradford market is very flat, and quotations are unchanged. F ebruary 25. At the free wool sale there was less foreign competition, 60 per cent, being sold. Merinos, which were a fair selection, were slightly easier; good crossbreds were Id below the opening , and low shabby sorts were withdrawn. New Zealand Oakwood brought 19-Jd and 17|d, and Mendip Hills 20Jd. WELLINGTON, February 25. The Department of Agriculture has received the following cablegram, dated February 22, from the High Commissioner of New Zealand in London: Wool.—The sales commenced yesterday wiih free sales, of which 4703 bales Australian, 585 bales New Zealand, and 1887 bales River Plate were offered. There was a good attendance, but bidding was irregular. The general tendency showed a reduction on the last sales’ prices of 10 per cent, to 15 per cent for merinos, and fine and medium crossbreds 10 per cent. Coarse crossbreds were not well competed for. About 85 per cent, of the offering was sold. At the Government sales which followed good representative selections were brought forward, including 4800 bales of Australian and 1300 bales of New Zealand. Competition was hesitating, and prices generally were 10 per cent, to 15 percent. below thos© realised at the last Government sales on January 21. Though at a reduction, about 62 per cent, of the offering was sold. New Zealand may be quoted: 36’s to 40’s (coarse’ crossbreds), 74d to 8d per lb; 44's to 46’s (medium crossbreds), 81d to 9d per lb; 48’s (fine crossbreds), 9Jd to 10|d per lb; 50’s (halfbreds), lid to Is Id pel lb; 56’s (halfbreds), Is 2d to Is 4d per lb. This week’s Government offerings will consist of : This Next Week’s. Week’s. Australian merino, greasy .. 9,450 19,100 Australian merino, seour’ed .. 1,600 3,400 Australian crossbred, greasy 3,200 10,200 Australian crossbred, scoured 550 2,200 N.Z. crossbred, greasy .. .. 2,550 8,350 N.Z. crossbred, scoured .. 1,650 2,900 N.Z. crossbred, aliped .. .. 1,400 2,950 There are five more sales of free wool in this series, and the total offering will be: Bales. Australian 80,000 -New Zealand 10,000 Cape of Good If ope and River Plate 5,000 Messrs Murray, Roberts, and Co. have received the following wool market cablegram from London: —“Sales opened with joint offering old stock and new clip. Merino, best descriptions, declined 5 to 10 per cent.; merino, other descriptions, declined 15 per cent.; crossbred declined 10 to 15 per cent.; crossbred medium shows tho greatest decline.” Messrs Dalgety and Company report having received the following cable from London, dated February 22: —Wool sales opened. Attendance of buyers is large, competition is not animated; fair selection. As compared with last sales’ closing rates merino wools, sound super, 5 per cent, to 10 per cent, lower; merino wools, good, 16 per cent, lower; merino wools of other descriptions, 10 per cent, to 15 per cent, lower; crossbred, good condition, free or nearly free, 10 per cent, to 15 per cent, lower; coarse crossbred, 10 per cent, lower. American buyers are not purchasing. Continental buyers are operating on a small scale. The N ew Zealand Loan and Mercantile Agency Company report having received a cable from London, under date 22nd instant in connection with the opening of the wool sales:—Catalogues were fairly representative, with fair attendance. Home and Continental competition restricted in buyers’ favour. Prices were 10 per cent, to 15 per cent, loweiexcept for merino wool, which is 5 per cent, lower. The Bank of New Zealand has received the following cable advice from its London office regarding the present series of colonial wool sales:—“The sales have opened dull, with an irregular demand. The market is weak for all kinds of crossbreds. Prices are lower 10 per cent, to 15 per cent.” The Bank of New Zealand has received the following cable advice from its London office regarding the present series of colonial wool sales: —“The sales have opened dully, with an irregular demand. The market is weak for all kinds of crossbreds. Prices are lower from 10 per cent, to 15 per cent.”

SYDNEY WOOL SALES. SYjJNEY, February 21. The seventh series of wool sales has opened. There was a representative gathering of buyers present. A fair proportion of the offerings consisted of average quality merinos. February 22. At the wool sales there was fairly strong general competition. For best lines prices were unchanged, but there was a weakening tendency for mediums, and faulties were 10 per cent, below last sales. Crossbreds were irregular, with an easing trend. February 24. The seventh series of wool sales has concluded The offerings were composed chiefly of good combing merinos. Prices Tell about 10 per cent. EXPORT OF AUSTRALIAN WOOL. MELBOURNE, February 26. The proclamation prohibiting the export of wool is revoked, after being seven years in operation.