LONDON WOOL SALES.

Press, Volume LXIV, Issue 19202, 7 January 1928, Page 14

LONDON WOOL SALES.

GENERAL SATISFACTION

ADVANCE IN COARSE WOOLS

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LONDON, November 30,

General .satisfaction is felt regarding the course of the first week of the London wool sales. The most extreme forecasts (says the "Daily Telegraph") have not been realised, and it is now generally accepted that the advances recorded are quite .sufficient. Wool values have been steadily rising since last August, and not until within the nast fortnight have they shown any sign of having reached high-water mark for this year. The best interests of the entire trade will be served ii values do not appreciate any more. The wools offered have been of quite an attractive character in botli merinos and erossbreds. The new clip merinos from Australia have met with a steady demand, and the prices realised must.have been satisfactory to the owners. The advance, which is well covered by 5 per cent., is quite enough. This is mostly seen in shafty combing wools of 60-64's quality, but 70's and upwards are easily making the best prices paid in October. There is very little variation in Queensland scoureds, but these are meeting with steady competition. Some of the Victorian scoured skin wools are selling slightly better. The best feature is that whilst both Home and Continental buyers are out to secure all the wool they can, there is no disposition to exceed 1 their limits.

Crossbred Offerings. The crossbred offerings have exceeded expectations, the quantity of greasy and alipe wools being quite as Targe a*, could be expected for the time of the year. The Home trade has been the principal buyer, and every lot is carefully valued. The advance in fine greasy halfbreds is no more than 5 per cent., but medium and coarse- wools are showing fully 7£ per cent, improvement. SlipO halfbred lambs are not fetching very much more than last series, though there is no doubt that they are selling readily, and easily making the best of October rates—occasionally id more. The advance in 50's and below is fully Id, the keen demand for medium and coarse wools of combing style being one of the features of the series. Home and French buyers are fairly keen ,and there are Boston orders in the market for 50's and below, but these are mostly for the woollen trade, whereas the bijjk of, the wools are suitable for carded tops. Good scoured! crossbreds are meeting with a very healthy demand, prices being about Id higher. Taken as a whole, the auctions have done very well.

Though business is rather quieter in Bradford, prices for tops and yarns are firm. The activity of spinning machinery is maintained, and some improvement is noticeable among manufacturers. The futility of negotiations between employers and empjoyees' representatives on the question of wages is not affecting the market at all. The position of individual firms is more likely than anything else to decide the ultimate result.