WOOL MARKET

Wairarapa Times-Age, 1 November 1938, Page 3

WOOL MARKET

SYDNEY SALES By Telegraph—Press Association—Copyright. SYDNEY, October 31. At the wool sales 12,522 bales were offered and 10,780 sold, 570 privately. Values were generally unchanged from the closing levels of last week with continued irregularity on the lower types. Greasy merino made to 19Jd, being the highest price this season. The average price of wool in Sydned last week was £l3 2s lid a bale and 10.4 d a lb.

PROSPECTS FOR SEASON POSSIBILITY OF PRICE IMPROVEMENT (By Telegraph—Press Association.) DUNEDIN, October 31. The view that the 1937-38 wool selling season in New Zealand which will begin in about three weeks’ time, will open with price firm on last season’s average of 10.04 d a lb, with a reasonable possibility of slightly improved market conditions, was expressed by Mr F. S. Avent, of J. W. Swift and Co Ltd., who has just returned to Dunedin from a world tour during which ne visited British, American and Continental textile representatives and operators, with whom his firm is associated. One of the chief grounds for the favourable view Mr Avent takes of the wool position is the increased confidence which has characterised trade generally since the satisfactory conclusion of the Munich conference. Asked what was the position of wool stocks overseas, Mr Avent said there was definitely no shortage of raw material unless it was in such countries as Germany, Italy and Japan, which were unable to purchase all the wool they required because of limitations of their external credits. Many topmakers in Bradford were holding considerable stocks of wool which, although sold forward to spinners, had not yet been delivered because spinners, consequent on the stagnation of trade during the winter, had not yet been able to unload their purchases on to manufacturers. In the United States the position was largely the same.