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The Wool Market

The Wool Market image
Parent Issue
Public Domain
OCR Text

The market for fine and medium fleeces ia without features of general interest, the stock being so small as to leave very little opportunity for any one to do much. There is no material change in prices since our last report. Choice X and XX Ohio and Pennsylvania fleeces sell at 54a 57c for old, with sonie choioe lots of XXX at a higher figure. A few small lots of new Ohio fleeces have come forward and we note salea siuoe our last from 50 to 55 cents, the lower figures for heavy and the highest price for a choice and very deairable lot. A fair quotation for new Ohio wool to-day is 52a53 cents. Keports from the West vary considerably. In some sectiona the growers are asking 50 cents, holding firmly at that price, but the bulk of the sales are at about 45 cents. It is possible that competition may force prices above the last named figure but there seems to be no reaaon for paying more than that, unless buyers get excited and lose their heads. The goods market ia depressed, and manufacturera are not in condition to pay high prices. The stock of foreign ia fair and that of California is large, suificient for the supply of immediate wants, so that there is no great necesaity for getting tho new clip into the milla. Dealers in California wool have been very busy during the past week, and the aales foot up nearly 1,000,000 lbs. Prices are steady, sales being made at 30a38c for spring, with a few transactiona as high aa 40c for choice lots. The receipts for California are lirge, and buyers are able to find alinost any grade they wish. At San Francisco the prices are very firm, 30a31c being paid for vory choice wools. A late cable dispatch relativo to the auction sale of June lOth, says that there has been an advance of fully $1 within the paat three weeks on best wools. Late sales of Michigan fleece wool in Boston have been at 51a53c per lb. It will be understood, of eourse, that this is old wool.


Old News
Michigan Argus