LONDON WOOL REPORT.—JuIy, 1863.

Wellington Independent, Volume XVIII, Issue 1961, 24 September 1863, Page 1

LONDON WOOL REPORT.— JuIy, 1863.

The third and most important sale of the year commenced on the 16 July, the arrivals to that date consisting of — Australian, 27,531 bales ; Port Phillip, 30,979 ; Van Diotnen's Land, 90G0 ; Adelaide, 13,907; New Zealand, 11,876; Swan River, 120 ; Cape, 10,737 ; total, 101.200 For about three weeks past a decidedly better tone has been noticeable in the North ; the splendid weather and satisfactory accounts from all parts of the growing crops had imparted much confidence, and henca stocks of manufactured Soods wero sold in large quantities, and the orders given out for autumn goods oad given much confidence to manufacturers. Under a combination of such favorable circumstances our sales opened with very large attendance of buyers, both homo and foreign, at prices fully equal to the highest range oj May — indeed, for the lower descriptions of Sydney and Port Phillip, which last sales ranged from Is 5d to Is 7p, an advance might bequoted of fullp Id. For really good wools, nidging from Is lid to 2s 2d, no advance can be quoted, and during the last two or three days even less animation is noticeable for thesa sorts, which really good Port Philips and indeed all fine sorts, are selling at the prices quoted. Low medium and faulty sorts are bringing relatively very high rates — skin, pieces, &c, selling much beyond their intrinsic value, price seeming more an object than quality. Leicester and all other cropped and half-bred wools have commanded extreme prices, in many cases as much as 2d to 4d above the finer portions of the flock ; but growers must not bo led by these prices to crop and spoil their flocks. The demand arises entirely from the present fashion, all course bright-haired wools being wanted for lustres, &c. Nearly all the leading buyers are holding aloof from buying to stock at present rates; a decline in price of Id or ljd must be established before they can buy. A retrogression in price to this extent will no dotibfc be quoted as the sales progress, unless foreign competition (which has so far been very animated) should produce the same effect as at last sales, when their extensive operaation completely ruled the market. Although stocks in dealers hands are light, some few are heavily stocked, and front Huddersfield complaints are made that- wool from last sales leaves no satisfactory profit. Fully 20,000 bales have been sold to date, merchants, with very few exceptions, celling at market rates. — Some News.