LONDON WOOL SALES.

Ashburton Guardian, Volume XLV, Issue 10349, 12 March 1925, Page 6

LONDON WOOL SALES.

COMMENT ON THE DECLINE.

CONSUMERS AND SELLERS. LONDON, March 11. Dawson’s report on the opening of the wool sales comments on tlie ‘ fiery struggle between consumer and seller. It says: “Seldom lias there been such determined resistance to high prices. The margin between the values of the raw material and the manufactured products lias long been too wide and disproportionate. Consumers are unwilling to continue to operate under such unremunerative conditions. The world calls for cheaper qualities or lesser quantities. Unfortunately, the effect of restrictions of offerings in Australia, passed on to manufacturing, ends with disastrous results to' the winter trade. . “It has long been obvious that a decline in prices was overdue. It had to come. At present the danger is that it may have come too far, and, a reaction is probable. It is unlikely that the decline will be fully recoverable. One hopes that Australian efforts in, that direction may check any further shrinkage.” There was a fair selection oi merinos, suitable for the Continent and- of; medium lower grade crossbreds. There: was a crowded attendance m all sections. Everybody was anxious to find the basis of tone better than was anticipated, and withdrawals, considerably loss than was Mermos were 10 per cent to 15 per cent, below the February closing rates, and crossbreds 5 per cent to 7* per cent below; New Zealand “M.P.” 25d to 23d..