Prospects of the Wool Market

Southland Times, Issue 9075, 26 November 1885, Page 3

Prospects of the Wool Market

w&:j.*x .i^^iiti sn^artr "*>■%-* :m i * Oharlea Balme- and Oo.'s report on % wool salee in the-Timesof 2nd Octobejr, T,*^liiakei ihe^following -on ahe prb«pectß of the wool trade :^ v jThaJsrave of depreaeion which.hw.of hte' passed over almost every branch of raw material, bat which until recently had affected th^w&l'ma'rlwt in a comparatively small degree, has fallen with foil effect upon it daring the carrent auctionp, .^ftitt^any- pwipasly,: Wwn.Hinqo |847, which a., regards £ considerable sa^MfgSjftSf • pioduce, /prpbably,; - can but s«J»a>©ly^ inore^ than - cover "the : cost . of production. It shodld be noted that the extent of deprecfatipn stated by means of mesiii^e' misleading,'^ late Australian "clip,^ taken jw-ri whole, is one of admitted^ intrinsic- inferiority , while [a, l«g* PWPPrtipn To;f the staple recently :^^dfi^|^ cGnsißjteaV of the failings of the ''season's shipnwnii^v^-bn^^^^tbV -, reduction jtt value (if we exoept such classes * of American demand), though no doubt? cbieflyinarkedrin the inferior sorts, has by 10 means been exclusively confined to whioh have saffered from the influence of drought, and cannot be more than partially assigned to cerises having refertnw to the merit* of the piodnce \\%%\i. The eirenmstance whiph may be regarded more and most f.i noteatly, inflaencedlthe redaction in prices &'mp&Mm\y tß<f%ifnre of' tbe^usual derived from foreign, and especirf%Uy:*J l fencb, {^ni^t{tAd'ti^:.whi(ih"'u''evi-' ;;,;den^d bythe.faotihat the; purchases for toT^tfieCp^tine^ have sot exceeded »ome 36^ per cent, of the total t?Kfjilaf>ia smaller proportion than has" been taken for thaJdeßliaation for many years. Ctrossbred growths continae to becapy a ielaUvely . faroured position/and though the development in their consumption ttaa daring the past two serien suffered some check, a campansbn of their LlSttial^ vik» .wfth ifiat rdling twelve tbontbt since revealfl 'a i-f lai. more favour-; lble : situation than a similar review p;of the^qaotations of merino wools for ;^^l^^two"\periodsi L The lowest point -^' viiSe^ if "we: wkcept: Ibe :flrstlwOL Of three days, ..was touched during the Wilier portion of the wriefli but anopiniQa gained currency that .prices^had grounded restored a . certain igmoitnt of confidence and ion&id the . market) Which though not accompanied any general advance in quotations^ in* r^ duoea Kre»ter discrimination in favour $f|ef the better classes of wool, and' imparted generally increased uniformity and Bjeadinees to the biddings during the later pf ogress of the auctions. The chances of a rapid recovery seem open to much doubt. The possibility'Ofa. further and more permanent development of trade revival in the United States, the partial influence of which has been already, favourably felt in the London sales, will of coarse not be Wt outvr of t view, -and .the fact that the ooming Australian blip promises to prove Of better and sounier growth than that; of the preceding season is an item of some, & simporUnce r bat otherwise the indioationa of a freer eohaamptidn are still' wanting, while anyvrimprovenient which may result from a c cMck tbprbduction can hardly be ,-,/tegarded^a*- falling, within ; the horizon of proappctß^ :-*■<■■ 4~