FURTHER, ADVANCE IN WOOL.

Patea Mail, Volume VIII, Issue 117, 30 September 1895, Page 2

FURTHER, ADVANCE IN WOOL.

London, Sept. 2G

The wool sales are crowded. The competition is more regular, and is especially brisk for New Zealand wools. The Bunkhouse brand realised lid, and the Earnscleugh Is 4d, Loxdox, (September 27. The wool market is animated, and sales have an upward tendency. Adelaide, Sept, 27. The wool sales opened with a record attendance, and the competition was very keen. There were 14,00'*') bales ofibrwl, all of which were sold. The better classes of wool showed an advance of Id to l|d upon last year’s opening prices Faulty and inferior pieces and locks sold higher, but the advance was less pronounced. Crossbreds realised up to 8d for superior; light con ditioned and ordinary lots, fid io 7d. The selection of lambs wool was poor, and caused a tendency to drag but the prices were equal to those of last year.

Foreign buyers were largely repre* sented, and showed a strong desiro to operate.

The New Zealand Times, commenting on the advance in wool, says —The average selling value of our staple product stands 25 per cent higher than it did last year, the worst of all the years on the wool record. The wool export for the year ending March 31 st last was returned at £4,198,318. At one fourth of this sum the improvement to be expected for the clip of the current year is £1,049,587. In round numbers the gain of the improved market to tbe wool-grower will be a million of money. It would be more, but for the great losses in the (Southern winter, which, estimated by competent judges at between half a million and a million bead, may be said to counterbalance the average annual increase. We may, therefore, congratulate ourselves on the addition o" a million to the exports of the colony for the current year. The result will, of course, depend on the continuance of the improved prices. That opens up a very interesting question. The drought in New South lias destroyed a large number of sheep, wasted a great deal of the clip of those that remain, and deteriorated more. The effect on the market of such a large disturbance must be a substantial further increase of prices. Moreover, as the accounts from Argentina are by no means good, the outlook for wool is happier than it has been for many years. The strong probability then is that the market is a rising market, and will rise considerably higher.