BRIGHTER WOOL OUTLOOK

Evening Post, Volume CXIII, Issue 28, 3 February 1932, Page 6

BRIGHTER WOOL OUTLOOK

The London January series of wool sales has concluded with a firm market for all descriptions of wool. Preference was shown all through die sales in London and in Australia, likewise in New Zealand, for those finer.descriptions of wool which form! a relatively small proportion of wool, grown in New Zealand, at any rate, in the North Island. Prices realised, ,in London are still very low, approxi-] mately Is per pound for merinos, and1 from 6d to 7d per pound for a very large proportion of the wool grown in the Dominion. But encouragement should be derived from the'fact that in these exceedingly difficult times for , industry and trade a large weight of wool is being lifted from die market' !and, apparently is going into con-' sumption. The improvement in value' |of the raw material may be slight, but it should be welcome at this time lof world unsettlement. The inter-1 ! national political situation, die uncertainties of exchange rates, die hopes^ or fears* of sharp changes in tariffs^ each and all should (.adversely affect die value of wool, and have actually done so. But for all diat, the London sales have closed on a more cheerful note than diat struck when the November series closed and, when the January series opened, and should be regarded as a brighter note" in present circumstances.