WOOL SLUMP

Hokitika Guardian, 11 April 1930, Page 6

WOOL SLUMP

CORNER TURNED

WELLINGTON, April 10

The silver lining Lo the cloud of iow prices that has overshadowed the L 929-31) season appeared at the final sale of the series, held at Wellington, coinciding with the brighter outlook reported at the Marcii-April! sales, which closed stro ngl>’ iu London on Wednesday, with prices at the highest point of the series. To-dav’s offerings totalled about G(KX) bales, which, as is usual at the filial sale, included a good deal of shahy and seedy wool, but there were also a number of fair-sized clips in good average condition, some of whieli had been withdrawn from earlier sales Much of the wool was well suited .to Continental requirements, and for the hulk of it, in striking contrast to previous sales, competition was exceedingly animated. Buyers, notably those ol Continental houses, displayed great keenness. As one broker put B, "Bradlord was not in the picture.” When wools favoured by Continental baiyeis were offered, it was noticeable that Germany and France eagerly snapped up lot after lot. In one catalogue the name of one German buyer was- market as the buyer of nearly every lot on one page. Germany was ties Tibed bv another broker as the "mainstay of the sale.” While prices generally were about on a par with the last Dunedin sale, they showed an advance compared with those of the March ‘2lst. sale at Wellington of Id to l£d for crossbreds and for pieces and bellies. Lambs’ wool, 100, shared in the advance practically to the same extent. Reviewed in conjunction with the results of the London sales, to-day’s auction indicated that the corner had been turned in respect of wool values, and that the demand had greatly improved.