THE WOOL SALES.

Timaru Herald, Volume XIIIC, Issue 14322, 12 October 1910, Page 5

THE WOOL SALES.

PRIVATE ADVICES. j Messrs Dalgety and Co. received tho following cable from London yesterday :—" Tile wool sales closed firm. As compared with the closing rates of last series, good merino combing, greasy, is 5 per ceiit. higher, and scoured is par to 5 per cent, higher. Merino wools of other descriptions, and fine and medium qualities of crossbred, are unchanged, whilst coarse crossbred wools are par to 5 per cent, higher. The total net quantity available amounted to 125,000 bales, of which 69,000 bales were sold for home consumption, 42,000 bales to the Continent, and 14,000 bales were carried forward. Next year's sales have been fixed as follows: First series 17th January, second 14th March, third 9th May, fourth 11th July, fifth 26th September, sixth 28th November. The first two series are unlimited, and all arrivals up to within eight days of the opening will be admitted. For the remainder of the sales the limit, if any, will be fixed later on." ANTICIPATIONS AND CAUTIONS. The following are Borne remarks by, Mr T. O. Price, additional to those published yesterday, on the state of the wool market at Homo, whence Mr Price liaß just returned: —Last year our wool fetched very high prices. Buyers seemed to have lost their heads, and they paid big figures, pushed, no doubt, by the active demand from America, which sent values up considerably above the normal. Well, what happened was this: that when those wools got Home tho market had gone down, and importers had to take hold of freights at prices higher by perhaps 2d or 3d per lb than they could lave purchased at in the London market. The majority of the importing firms did not cover themselves entirely against that drop, so, as .a consequence, in the Bradford trade there were heavy losses on imported wools. That applied particularly to New Zealand and New South Wales wools. On the other hand, wools from Melbourne and South Australia were bought earlier, and not at the high values obtained over here, and these gave satisfactory returns to the importers.' 1