REVIEW OF THE WOOL TRADE.

Waikato Times, Volume XVI, Issue 1356, 10 March 1881, Page 3

REVIEW OF THE WOOL TRADE.

Messrs Goldsborough report under date Melbourne FeSruary the 15th as follows on the wool trade of the past year : — The catalogues have gradually become i less important through the past month, the total offered being 785^ bales of which 585JL bales have been sold. Prices have life'eh fairly maintained for good-con-ditioned lots'; but inferior descriptions, and- more especially cros3-breds, have ' gradually bec6me easier, and may be quoted to Id per pound lower. The season may now be considered over*; and, rin accordance with our usual custom, we will briefly review its leading features. The opening sale was held ;.at our. warehouses on the 7th of October,' owing to the desire of some of the large growers to wait until the market had been fully .tested before offering their clips, the total number of bales catalogued was only 1006 ; and the catalogues were not large until the latter portion of the month. On the 27th of October operations opened on an extensive scale, our sale of that day including 11,439 bales, of which 9220 bales were sold, the clips disposed of being chiefly large Riverine^ flocks in the grease,, and which ranged from 10$ d to 13fd p_er 'pound, the latter price being obtained for the G^raldra flock ; also, for , Mt. Koroite, both lots being got up, and in light condition. The sales progressed briskly at firm rates until the; end of .November, when the advices received by wire of the opening of ,the, London November and December series 6f sales at lower prices than , were expected, caused an easier i feeling, and an average, decline of Id per pound was established. This reduction has gradually been increased up to the present time, until it may now be quoted at l£ to 2J per pound below the opening rates of the season. The decline has been more especially noticeable in inferior descriptions and strong cross-bredB, tho latter having suffered to the extent of fully 1^ to 2j, owing to the unfavourable adviceß respecting the sale of this class of wool in London. Washed wools hare been in. good demand, more especially if well bred and carafully got up, and prices have ranged "up to 2s 3d per pound. The choice Western flocks would, of course, have gone to higher figures, but these are not usually offered in this market. The American demand has not been such a prominent feature as it was last year, owing to the depression of the woollen interest in the United States. Several buyers were here with large orders, but the limits given them were too tew to admit of free operations in this ' market, the total shipped being only 3372 bales .from Melbourne and 709 bales from Sydney, or 4131 bales together, as agjiinit, 21,000 bales last eeaaetn. With a revival of frade much larger operations will, 'no doubt, be instituted, and we look forward to a great future in our wool relations with the United States, as important advantages can be gained by operating here and shipping direct. The French and German buyers, though present in larger numbei'3 than usual have been guarded in their purchases, and a good selection of our clips has gone te the Continent. Thfc commencement of direct steam communication with the chief ports which is now about to be inaugurated, coupled with the opening of a branch of an important French Bank (Tho Comptoir d'Escompte de Paris) in Melbourne, will give an additional stimulus to these shipments, ,and we may expect a considerable increase in the purchases for France and Germany, alao Italy,' in and future seasons. Melbourrieicdnfciftues to firmly maintain its well-won supremacy as the great central dep6t for the Australian Wool sales, which is evidenced by the fact that this season 165,302 bales have been catalogued, and 122,272 bales sold in the local markets here and in Geelong. It also effectually hold*, and is improving, its position as the chief port of departure for wool, , the shipments from October Ist; to this date being 285,4 10 bales, as against bal^sat the corresponding period of last year, thus showing an increase of 25,107 bales. This Compares favorably with theinoreasefrom the other colonies, and the continued extension of theradways, and cheap communication by steamers, will steadily add to its importanse. The consignments of wool to this market from Sydney, Qsieensland, Adelaide^ Tasmania, and New Zealand, are increasing, and a larger number of important clips have this season been sent here for sale. Melbourne is, in fact, the natural outlet for the finest pastoral districts of Australia, and 'the presence of these splendid /flocks must always make this market attractive to-thV buyers 'Here' tfreyJhavG a grand selection of wool, embracing - every, variety of the. staple, and warehouses and faci'ities for disposal probably' unequalled in any other part of the world.