WOOL PRICES

Evening Post, Volume CXII, Issue 83, 5 October 1931, Page 10

WOOL PRICES

ADJUSTED TO EXCHANGE MARKET FINDING LEVEL (Received sth October, 9 a.m.) :.■•-. LONDON, 4th-October. Mr. W. P. Devercux, representative of the ■ Australian."Wool Council, reports that during the past Week all wool markets hud undergone an adjustment in accord with the altering conditions of foreign exchanges generally. The advance in prices at the London wool . sales now corresponds to the depreciation of English currency. British buying has continued to domin- ■ ate the market, Germany also buying fairly ■ steadily. Belgium and Alsace made some fair purchases, but buyers for the north of France operated very sparingly. Prices continued to advance early iv the week, but later a less excited tone prevailed . - , ' . .'. , t , , Average greasy merino, although not notably lower, recently ruled in buyers favour, but some extra super wools made higher prices. Fine and medium greasy crossbreds met : with a strong demand and prices for these wool* have still further improved. Scoured i merino and combing wools are in better demand, but short and faulty descriptions : are difficult to sell. . Although offerings increased and the gales have "been extended until Wednesday, next,.the quantity likely to be carried forwardmay approximate 50,000 bales. , The British woollen industry has been touch stimulated by the currency changes, which virtually amount to an import duty. : ' Great hopes7 are entertained of an mjereaise in exports. Prospects of a tariff for Great Britain, kombined. with financial troubles, however, tre having a disturbing effect on the Continent. . ■-■■. ■ - . i