WOOL MARKETS

Rotorua Morning Post, Volume 2, Issue 433, 18 January 1933, Page 6

WOOL MARKETS

AUSTRALIAN SALES Sydney, Saturday. Th'e Sydney wool market closed before Christmas under excellent competition. A welcome increase in strength came from Yorkshire. Germany, Italy and Belgium competed freely, Japan bought with greater freedom, and France was very keen. Good orders for super-merino fleece wools wpre noticeable from America. The well distributed demand from overseas operators at the close of a heavy half year's selling is regarded as encouraging, particularly as for some weeks auctions were proceeding simultaneously in London. With catalogues containing a good number of high class wools averaging approximately 8Jd in Australian currency, and in the vicinity of half that figure on a gold basis,, wool is undoubtedly cheap, and woollen apparel has been brought within the reach of the mass of the people; otherwise the clips would not have been absorbed. The encouragement lies in the fact that there is evidently an expansion of the market. It is considered that in view of the economic position rates for wool can be regarded as having displayed steadiness, although the rise to the peak point in mid-Septem-ber was not maintained. In most cases the variation was only a shade over 10 per cent. MIHI II -I ' '