THE WOOL MARKET

Hawke's Bay Herald-Tribune, Volume 81, Issue 54, 26 November 1937, Page 11

THE WOOL MARKET

More Farourable Turn SPECULATOR ELEMENT There has been a slightly more favourable turn in the level of markets for most commodities, and wool has shared in that xnovement, according to the latest report issued by Winchcombe, Carson, Limited, woolbrokers, Sydney. Present indications point to values for Merino wools having reached rock bottom, but the general decline in prices has been due to causes outside the wool trade. It is, therefore, impossible to forecast rates with complete eonfidence. The market, particularly for burry wools, has reached a basis in which buying by the speculative element is a possibility. Business in a number of countries is less active than earlier in 1937, but the volume of world trade has not receded to the depressed conditions of May, 1935, when values for burry sorts were about on current basis. The speculator on such occasions is a valuable market faetor, his purchasing giving the neeessary fillip to demand, which inspires eonfidence in traders generaliy. The reduction in values has been due to mental rather than material inSuehces. The workers of the world are not experieneing the unemployment of a, few years ago. The spending power of the people is greater, even in the United States, from where this season 's market ahakiaeM lnrgely