WOOL PROSPECTS

Hawke's Bay Tribune, Volume XVII, 21 November 1927, Page 5

WOOL PROSPECTS

THE LONDON SALES OPENING TO-MORROW. OPTIMISM IN THE TRADE, IBy Cabl«~ Press Assn. — Copyright.) (Received 21, 10.20 a.m.) London, Nov. 20. The prospects for the wool sales, opening on Tuesday, are regarded as most satisfactory. There is general talk of a rise ot from 5 to per cent, in the prices ot merinos and 10 per cent, in crossbred. It is most surprising that some Bradford firms, despite all the talk about the scarcity of wool there, are sending a considerable number af bales to London for auction. Apparently they expect the Continental demand will be so keen that they will be able to make more profit by selling the wool than by converting it ■into tops for sale in Bradford. DISTINCT TURN OF THE TIDE. A correspondent at Bradford writes: “Many in the trade assert that tiiey discern signs of a distinct turn of the tide. This is not the first occasion'on which optimism has sounded such a hopeful note but there seems rather more warrant for it than before. Wool certainly is being used up at a greater rate than at this time in 1926 and there is less in sight. Even if Germany, which is the centre of the greatest European activity, slackens off there is little doubt that the raw material released will find an outlet elsewhere without difficulty. SUPPLY AND DEMAND. “The obvious difference that has arisen between supply and demand, however, seems to be one of impelling motives on the part of buyers of fully manufactured goods to place orders for larger quantities. Confidence in the soundness of raw material is now being well established. The future of the West Riding trade turns largely upon the outcome of tho present wage negotiations, and there are very favourably prospects of a satisfactory settlement being effected.”—(A, and N.Z.) OFFERINGS FOR AUCKLAND SALEAuckland, Novembre. 21 Offerings at Thursday’s wool sales are expected to total 23.650 bales—a record for the first of season sale here. Last year’s coreseond. nig entry was 18,000 bales.