THE WOOL MARKET.

Motueka Star, Volume II, Issue 78, 13 May 1902, Page 4

THE WOOL MARKET.

Wednesday’s Wellington Post says: —The London sales opened yesterday, but up to the time of writing there is no advice as to the state of the market. The indications of the past few weeks have been strongly in favour of firmness, if not of a substantial advance. The Bradford Top market has been excited, and both super and common sixties have advanced |d per lb. Merinos are certain to be firm, and crossbreds will in all probability see a further advance of 5 per cent, or more. Writing of the wool prospects, the Financial Times of a r esent date says—“ln the worsted industry of Bradford things are fairly busy, spinners being particularly so, this meaning that a big consumption of wool is going on. All reports agree that stocks in topmakers’ hands of combed wool are almost nil, many topmakers not being able to deliver up to time. This activity has also touched crossbred users, and the crossbred situation offers relatively more encouragement than does even that of merinos. Now that the Continent is again renewing its vigour, and the practically ‘bankrupt’ stocks have been worked off the market, the best authorities are of opinion that all supplies to come forward during the remaining months of this year .vill be lifted quite easily. Crossbred spinners in Bradford are very busy, and prices have firmed up nicely since the year came in. The woollen trade in certain localities leaves room for improvement, but when all is said and done the present standing of wool is firm, and is- likely to remain so, because it is resting pre-eminently on a good consumptive basis.”