A RISING WOOL MARKET

Evening Post, Volume CV, Issue 99, 27 April 1923, Page 6

A RISING WOOL MARKET

"Opening rates fully maintained" is to-day's satisfactory description of the London April wool sales now proceeding. The position must be gratifying to wool-growers who have shipped Home and to those who sold in New Zealand, as figures furnished by the Wool Committee and published in "The Post" last evening, will show. Prices* in London at the current sales show' an advance of Id to lid per Ib. on the closing rates of the March sales in Coleman street as to 87 per cent, of the wool grown in the Dominion. The returns to growers who sold locally for the selling season in New Zealand, now praotically closed, were an average of 10$ das compared with 6jd last season. So far the wool sold in the Dominion has brought in, roughly, £7,000,000. The market appears to be on the up-grade, and this is a matter for satisfaction, but it affords no justification for relaxing any of the measures taken to ensure economy in working and personal 1 expenditure. There should be some easing off of the financial pressure as a result of the improved position of wool; but the moral of the collapse of the butter and cheese prices should not be overlooked. Both these products had reached that point beyond which the consumer will not and cannot go, with the slump as "the inevitable sequel. Wool is in not quite the same case, but it is a sensitive market all the same. Caution should go hand in hand with gratification at the present favourable tuya pi the market