THE WOOL TRADE

Ashburton Guardian, Volume XLV, Issue 10386, 4 May 1925, Page 5

THE WOOL TRADE

THE POSITION IN LONDON. CONTINENTAL BUYING NEEDED. FEARS OF A DECLINE. (Per Press Association—Copyright.) (Received This Day, 9.15 a).m.) LONDON, May 3. Commenting on the decline in wool values in Australia, and the suggestion to postpone certain sales, the ."Economist's" wool expert says he does not se© anything to prevent merinos falling 15 per cent, unless the Continent, especially Germany, takes the buying lead. He asks, is there not really more buying power than appears on the surface v Are not a great many frightened by their own shadow.'' lh© trade, he says, is not so bad as is SU ffiht- writer says Oat unless good Continental support is forthcoming the London sales next week may result in a debacle.

AUSTRALIAN SALES POSTPONED. » SEEKING STABILISED PRICES. SYDNEY, May 3. A meeting of the National Council of Woolselling Brokers has been called at Melbourne for Wednesday to consider the position created by the heavy fall i in prices and the absence of substantial buying orders. .. The wool sales at Adelaide fixed ioi Thursday and Friday have been postponed owing to the decline in prices, the growers, who have disposed oi bo % per cent, of their clip, believing that delaying the sales will result in the stabilisation of prices.