WOOL SALES

Hokitika Guardian, 21 September 1933, Page 5

WOOL SALES

ENGLISH.PRICE lIP “FINANCIAL NEWS”COMMENT (United Press Association—By Electric Telegraph—Copyright.) LONDON, Septemebr 19. The wool sales opened : Merinos register!** an advance of seven and a half to ten per cem\, the crossbreds seven art! a half. Discussing the firmness of wool, the ‘'Yorkshire Observer ’ says : Many I think the best prices will be seen at the end of the season, when better clips arc offering. It quotes the circular issued by the Oampaiguie C«m----m email e Kregliiulers, Antwerp, expressing the opinion that the- Australian clip was not- only Three hundred thousand bale s short, but lighter weight fleeces, virtually a double •shrinkage. Furthermore, it is likely that the South African -diminution will he between 150 and 250 thousand bales. The “Financial News’’ describes the rise in wool prices as one of the most spectacular and quite the most important of price recoveries. 'lt says that growers are realising a reward of their policy of steadily and philosophically meeting the market last year when the prices were low, and resisting the ■temptation to withhold their supplies its the result of their record clip. Meanwhile, it says the- cheapness of raw wool has discovered new’ use 3 for it, of which woollen bathing suits are among the most- obvious, and have opened almost a new market. Commenting on the wool k sales, the “Financial News” says; There is ' an undoubted squeeze between the available supplies and urgent requirements. It is equally -necessary to -realise that a new, broader outlook must be accepted a,s regards values. The advance in merino s of

fully fifty per cent, on the March levels cannot be treated altogether as ephemeral. Speaking broadly, the shelves were seldom more bare of cloths, or wool, or -warehouses so empty of raw wool. Reports from Australia are encouraging. The new level of values will save thousands of growers from disaster. The “Yorkshire Pos ! :” comments on the limited offering of shafty greasy merino combings of Bradford style, and adds the preponderance of lower crossbreds is less embarrassing, now weavers are popularising mohair worsted linings. At Leicester the manufacturers today raised the prices of all hosiery containing woo] from five to twenty per cent, according to the wool content.

SYDNEY MARKET CLOSES FIRM

TOP PRICE 23d FOR MERINO

SYDNEY, September 19

• At t-he wool sales yesterday 12,393 bales were offered and - 11,802 sold, while 1269 bales were sold -privately.

Yesterday’s top price at the woo] sale was 23d ■ for greasy merino wool, paid by Yorkshire, for 23 bales of wether fleece from TMoree. Under very keen competition from the Yorkshire and Japanese sections, and also good support from the Continent, the market ruled firm at closing rates of the last Sydney series, with a hardening tendency for (best grown wools. Greasy merino made up to 23d equalling ihe Mother*' price of the reason so far. The best prices for all descriptions wore .■ Merino 23d, broker 19d, lambs lPd, pieces ]7§d, bellies 12jd, locks Bd, comeback fleece 18d, crossbred fleece 16I<1.

KEEN DEMAND AT MELBOURNE. MELBOURNE. '.September 19. A keen demand existed at the opening of the wool sales, at which 10.000 bales were offered. Merino comebacks were 55 per cent, higher than at the opening of the sahg last year, fine crossbreds were SO per cent, higher, half-breds 40 do 45 per cent, higher land .a small lot of coarser grades 25 per cent. up. The Continent and Japan secured the bulk of the offermc. which was light-conditioned, soft-handling wool from the Riverina. Leading prices were- 21 Jd for fleece and for comebacks. Practically all the' offering was sold. PERTH PRICES ADVANCE. PERTH, September 19. Twenty-four thousand bales were offered iand almou’ all were sold at values equal to the Adelaide prices of ■September 7 and September 8. Prices were 25 nor cent, above the Perth June rates and 50 per cent, above last, season’s opening sales. The ton price of 21td w,as secured for a- small lot from the Lavorton.,- district. Bradford was the strongest operator, followed LV France and Japan. The State s otip tlvs reason is estimated to he about 205,000 bales.