LONDON WOOL REPORT.

Southland Times, Issue 546, 22 August 1866, Page 2

LONDON WOOL REPORT.

(Prom the " Home News." June 26.) j The sale which commenced on May 10 closed on June 23, the quantities catalogued comprising 2-4,671 bales, Sydney ; 72,084 bales, Port Philip ; 5,732 bales, Van Diemen's Land j 20,071 bales, Adelaide ; 2,305 bales Swan River ; 17,161 bales, New Zealand ; 15,578 bales, Cape. Total, 157,602 bales. It is remarkable, as showing the extreme healthiness of our trade, that the sales opened so well, the decline being about l|d. to 2£d. on all descriptions, except the finer descriptions of Port Philip, which ruled 2d. to 4d. lower — the extreme prices paid in March for all choice descriptions leaving a fair margin for decline ; the • fearful failures and panic in the city not noticeably altering our market bids, and prices being maintained with remarkable ■uniformity. Of course, in so long a series and with such daily financial troubles there were variations at each night's sale : but that this large quantity should have found ready buyers at bo satisfactory a range of prices must be extremely gratifying to aIL No doubt, the heavy operations of iFrench buyers completely ruled the market, our own buyers, as a rule, bidding cautiously, and with anticipations that wool would fall considerably from opening rates ; but when it became positive that nearly half the whole quantity offered •would be taken by exporters, our own buyers took courage, and for the last few days of the sales the tone was better and prices established with more firmness. Many of the large staplers who usually operate very largely at this season of the year almost abstained from buying, the low prices of all Gtennan wool at the fairs inducing them to stock heavily — circumstances there, in consequence of the war, enabling them to stocg at fully twenty per cent, below last year's rates. I At one period of the sales Sydney wool was very cheap ; many flocks deserving higher prices from their healthy breed and careful wash did not realise the prices anticipated, the extremely low price of Silesian fleeces keeping down the prices of all good and middle Sydney. With war and dear money it is very difficult to form any decided opinion as to the range of prices at the August sales ; but, judging from ths present tone of our market, we look for prices being fully supported for all free and well stapled descriptions. Faulty Sydney will find little favor, and be sold with difficulty at a low range of prices. The cheap rate of all fair flocks, both colonial and German, will interfere most materially with such description s ; and we note this in length for our Sydney friends, who often imagine that anything thence, at a low price, will find a ready market here. Daxgettt, Dv Cross and Co., writing from London, 25th June, 1866, report : — The public sales of colonial wool, which commenced on the 10th ult , closed on 23rd inst. Prices continued without much variation from opening rates, till within about ten days of the I close, when the report of serious decline at the &erman fairs, outbreak of war, and continued lightness in the money market, with a minimum rate of interest of 10 per cent, appeared to exercise an adverse influence, causing some further reduction from which we cannot quote any decided

March sales, may be quoted on the average 2£d to 3d pei* lb., leaving prices on a par with those of June, 1865. Australian, especially where inferior or faulty, sold heavily and irregularly at*p decline of on the average, 3d per lb., from March rates. Victorian suffered a no less depreciation in both washed and greasy wool : the general condition was better than would have been expected. Tasmanian was in good demand, and the fall at the commencement did not exceed l£d to 2d per lb., but they were lower at the close j quantity was moderate. South Australian was mostly very faulty, owing doubtless to the season, and declined fully 3d per lb. New Zealand was for the most part, wellgrown, and in better condition than last year : it experienced a steady, demand at a reduction of Hdto 2dperlb. Swan Eiver wools sold fairly, at about last year's rates. Lambs' wool was again in better enquiry. A large proportion of the clip, especially from Victoria, has now passed the hammer under circumstances unusually trying to the market. .»