OBSCURE OUTLOOK
-Press Assn
Factors in the London Wool Market BUYERS VERY CAUTIOUS
(By Telegraph-
Copyright.)
(Eeceived 20, 11.30 a.m.) LONDON, Sept. 19. The wool saies have not turned out as most members of the industry thought, Merinos being iirmer and crossbreds lower than expeeted. Material bought in London has been intended chiefly to cover maturing contracts; hence the London prices are not reflected at Bradford, Where quotations are based on those ruling in Australia. The outlook, even for the near future, is obscure owing to the European and Far Eastern uncertainties. To these the declining franc adds another complication. The decline in raw material has naturally deterred buyers, but it is believed that a good volume of- business is waiting to be placed directly users feel assured of steady values. Everyone is showing extreme caution in regard to forward transactions, The feeling is growing in Bradford that Japan will concentrate on the purchase of crossbreds, as'they are suitable for the uniforms needed in the Sino- Japanese war.
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Hawke's Bay Herald-Tribune, Issue 209, 20 September 1937, Page 5
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168OBSCURE OUTLOOK Hawke's Bay Herald-Tribune, Issue 209, 20 September 1937, Page 5
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