ADVANCE IN WOOL PRICES.

Shannon News, 2 May 1922, Page 4

ADVANCE IN WOOL PRICES.

THE CHEE§E MARKET. London, .April 29. The prospects for the opening of the London wool sales appear to be very favourable. There is a general expectaton that prices will show a further advance, probably of 5 to 10 per cent in merinos and 5 per cent in fine crossbreds, with medium and low crossbreds firm at late rates. The market for merinos is expected to ne strong for some weeks, as United States buyers are expected to operate more freely in the near future, arid good combing merinos are being consumed faster than they are produced. The firm rates are likely to continue till the new clip appears, when there may be some falling off. Tops continue to harden. Some makers have "so heavily sold forward that they are not accepting new orders, and are generally asking a penny advance over last w T eek’s prices for .merino tops. Orders for yarns are increasing and spinners are enjoying a larger turnover and commanding better prices. There are more activities in all sections of the cloth trade, but the export trade is much better than the Home trade. Some fears are expressed that the high prices may cripple trade at the manufacturers’ end, and at present there is no advance in the price of cloth commensurate with the rises in wool tops and yarns. The cheese market is in a peculiar position, for though there is no undue accumulation of- stocks and prospective arrivals are moderate, trade is almost at a stndstill. Retail prices for best New Zealand have been reduced to Id per lb, without stimulating sales. The only explanation offered is that the unusually cold weather is causing people to prefer meat to cheese. With a return of normal spring temperature the demand should improve.

The market for apples has been somewhat affected by two bad cargoes, but all good fruit, is selling well. A feature is the large Continental demand, especially for Cleopatras. Now that no cargoes are going to Hamburg. all Scandinavian needs must be filled from England, hence there is a good market at Hull.