THE WOOL MARKET.

Otago Witness, Issue 3557, 16 May 1922, Page 14

THE WOOL MARKET.

“BAWRA” WOOL SALES. LONDON, May 8. “BawTa” Wool Sale: There was a poor selection and strong preneral competition at last week’s closing rates. LONDON WOOL SALES. LONDON, May 9. At the wool sales merinos, mostly topmakers’ sorts, sold well at full late rates. There was a large offering' of crossbreds, with good Continental and Home cfem and, and prices showed a hardening tendency.' THE WOOL MARKET. LONDON, May 11. At the wool sales the market was very firm, with full rales for all merinos and crossbreds. The catalogue was mainly a Continental selection of merinos, which were keenly competed for. At the Bradford market a strong tone was maintained. Sixty-fours, 56d to 57d; 56’s, 33d; 50’s, 23d; 40’s, 14d. Messrs Murray, Roberts, and Co. have received the following wool market cablegram from their London agents, dated the 10th inst;

“Market continues strong. Compared with opening rates present London safes greasy medium crossbred advanced 5 per cent., greasy coarse crossbred advanced 5 per cent., greasy crossbred lambs advanced 5 per cent.” Messrs Murray, Roberts, and Co. report having received the latest wool quotation®, dated London, May 10, and these are given below, and compared w r tih those at the’ close of the last sales: Close o r last sales. 56’s yielding 60 per cent. 60’s yielding 65 per cent. .. 13$ 12i 44/4 6’s preparing, yielding 74 per cent. 44/46’s carding, yielding 72 per cent 9a 8J 36/40’a yielding 75 percent. 6J At the wool sales prices coutinuo to harden. There is good Home and Continental demand for all merinos, especially average topmaking sorts. There is an equally good, demand! for crossbreds and low medium, which are now 10 per cent, above the opening prices. K SIDNEY WOOL SALES. SYDNEY, May 8. The 18th series of wool sales has comlmencecl. Competition was spirited throughout, the Yorkshire demand being particularly keen. Prices were 5 per cent, higher all round. SYDNEY, May 13. The Daily Telegraph, commenting on the animation in the wool market, says that seldom has the demand for merino been so keen and so widespread as it is to-day. Seldom, if ever, have the general conditions of the market been so favourable for growers. It is truly wonderful. As prices go up the demand seems to widen and accentuate. Practically all sections are operating, and all are eager to secure supplies before the season ends. The buyers have been unable to fill their orders in the auction too ms, and there have been keen operations privately. The crossbred position also shows a distinct improvement, though a marked preference is revealed for the finer and free descriptions. The demand for very coarse and burry sorts is still prejudiced by the big weight of “ Bawra ” low-grade crossbred® which remains over from the appraisement scheme, which hangs like a wet blanket over the trade. -s SOUTHLAND MARKET REPORT. CFrom Our Own Correspondents.) Oats.—This market has again fallen off to a considerable extent since last report. A Cartons to-day not being worth more thaft 2s 4d per bushel, sacks extra, at ordinary sidings. B’s are down to about 2s Id. Farmers are not showing much inclination to sell at this price owing to the higher rate® which were ruling up till recently, but it seems quite useless to look for higher prices. Southland oats this year are decidedly heavier for Imperial bushel than for many seasons, though showing signs of discolouration. The average weight is about 431 b per bushel, as compared to 40lb and 411 b for similar grades in past years. * Chaff.—Merchants are disinclined to operate in new at anything in excess of £3 10s for really prime quality, while in sympathy with oats the market has a somewhat droopy tendency. Fair quantities of old chaff are still offering, and for this merchants are willing to pay £3 15s, and this chaff is still requested in preference t-o new. Ryegrass.—There has been rather more inquiry lately from the north, and the market in consequence has had a downward tendency during the week. Well dressed lines from the mill, weighing 241 b to 261 b, aro worth 3s 4d per bushel, on trucks, sacks extra. OAMARU MARKETS. iFrom Our Own Correspondent.) The fine weather has enabled good progress to be made with threshing operations, and a good quantity of wheat has come to hand during the week. What is being forwarded now has been threshed from the stack, and consequently the quality is better, but there are some dirty lines, the presence of foreign grains still being fairly prevalent. Miller® are inclined to stand off, and anything that i 3 not really prime and clean is not easily disposed of. A fairly large quantity has been disposed of for nulling purposes, and transactions ranging from 1900 sacks downwards of mixed varieties. A .fairly largo quantity of fowl wheat is coming forward, but a good deal of it is smutted, and this class is not easily disposed of. The market for this class of wheat is easier than it was a week ago. The market for oats is weaker. Threshing is in progress in Southland, and a large quantity of under-grad© oats is being put on the market. The crops in Southland are heavy, and the stocks on hand appear to be more than 'sufficient for the consumptive demand. . Super A grade Gartons are now worth about 2s 6d per bushel and B grade about 2s 3d, on trucks at country stations. There is no sign of any improvement in regard to barley. There is no demand, and the market is absolutely lifeless. The market for seeds is easier all round. There is nothing offering from growers, and the demand, is practically nil. PROPERTY SALE. Park, Reynolds (Ltd.), in conjunction with, the Perpetual Trustees, Estate, and Agency Company of New Zealand (Ltd.), at their rooms Manse street, on the 11th offered for auction two attractive freehold brick residences situated at numbers 16 and 18 Smith street,- near Stuart street. There was a good attendance, and No. -16, which is unoccupied, was knocked down at £2500. No. 18 was passed in, and will be offered for private sale. CHRISTCHURCH WOOL SALE. INCREASED PRICES. CHRISTCHURCH, May 11. A supplementary wool sal© was held today, the catalogue being a small one, consisting of 2489 bales, comprising mostly odd and fellmongering lots, with a few fair-sized clips of both fine and coarse wool. The sale was spirited from the out-set and better figures than at the March sale were obtained throughout. All round the increase represented from about lfd to ljd, there being cases in both halfbred and merino wools that showed an advance of more than 2d per lb. Fine and medium crossbreds sold particularly well. Brokers’ valuations were comfortably exceeded in the bulk of the catalogue, and passings were almost negligible, except in the case of two clips, where the vendors’ ideas were on the high side. Home and foreign buyers apparently bad ample buying orders, and for all classes of fleece wools set a good pace. Crossbreds fell largely to English buyers and finer wools to both American and Home representatives. Local mills were not bo prominent as at the former sales, there being little in the catalogue to suit them. Top prices were: Merino, 17d; halfbred, 17d; three-quarterbred, 12Jd; lambft, 9Jd; crossbred, 9Jd; merino pieces, 13Jd; halfbred pieces, 9£dj crossbred pieces, 7di.