LONDON WOOL SALES.

Poverty Bay Herald, Volume LI, Issue 16773, 4 July 1925, Page 13

LONDON WOOL SALES.

For the London wool sales, which begin next Tuesday, about 136,500 bales are available, the bulk of which is carry-over stock from the May series. At the opening of the, May sales it was stated that no series <4 London wool sales, since November and December, 1914, opened under such bad conditions ns the present has. The whole trouble seems to be that there is an excess of wool in and prices have reached a level at which the consumer has rebelled. That was the position eight weeks ago, and it is now very much worse, for the European and North American clips are in hand and are so much nearer the- Australian clip. There is more than sufficient carry-over wool to satisfy the apparent limited demands of the trade. Und'er these circumstances it. would he useless expecting an improvement in prices or any buoyancy in the markets. Neither brokers nor growers entertain any hopes of improvement and the suggestions of control in Australia have hot helped the position. The probability is that there will he a good attendance of the trade in Coleman street next Tuesday, but they will he largely spectators anxious to witness the trend of the market. There has been an interval of about seven weeks since the close of the last London sales, and the trade has thus had time to review the situation. The weekly reports of the tops market give no encouragement that consumption has been on a large scale, and these facts taken into consideration make it obvious that the sale will be a dull one with a further drop in fine wool values. Really, however, the conditions have been so peculiar that there is not an experienced wool-broker who will attempt to forecast the market. Most of them would be surprised if any firmness was shown, but one or two are inclined to the opinion that crossbred l wool will not suffer to the same extent as merino.— Dominion.