WOOL TRADE

Hokitika Guardian, 17 March 1931, Page 5

WOOL TRADE

POSITION REVIEWED. . GREATER CONFIDENCE NOTED (United Press Association— By Electric Telegraph.—Copyrignt.) LONDON, March 14 Mr \Y. 1). Devoraux, tiff, official representative of the Australian Woolgrowers' Council, reports that Hie London sales continue with keen auiJi'i.d. i-T/. Opening rates have been well sustained, with increase compet/lion (om the Continent, though \orksinre predominates. Although in excess oi the general ex pectntions the advance in prices lias greatly added to the confidence of Home and Continental manufacturers Yorkshire topmakers have done considerable business at the further increased merino prices at which reluc- ■ Stint spfc'.iners are now operating Combers output is being taken up ifree-

j here lias been substantial business in cross-bred tops at higher prices and spinners are finding it difficult to obtain supplies based on th t > tops aditaiie, but their minor cross-bred yarn quotations are higher. Some business is doing, but manufacturers at present are not disposed to pay full advances. The position on the Continent is much the same,

The advance in wool has inspired confidence, but political and economic factors have made German traders cautious. Fairly large quantity of tops and yarn have been sold at the advanced prices, but stocks of yarn and raw wool are relatively greater on the Continent than in Britain, hence the reluctance to follow the prices to the same extent.