WOOL PROSPECTS

Evening Post, Volume CVII, Issue 96, 27 April 1929, Page 12

WOOL PROSPECTS

COMING LONDON SALES

A.BRADFORD REVIEW

"Evp'aing Post," 27th. April.

■ .A' CD-Ulopuo ox 130,000 bales •' is to be offered at the 'April series of London wool gales beginning on Tuesday. O£ this quantity 45,500 bales of New Zealand wool will be offered. • .At the March London sales, good support was given to crossbred wools, .Bradford buying predominating. Considering^ the' state o£ the. wool market, wool sold.well at the same time in the Wellington market. . Messrs. H. Dawsqn and Sons, of Coleman street, London, writing litk March to the Wellington office, drew a rather doleful picture of "the complete shaking of confidence^ every manufacturing centre, and in.practically every •;section ot the industry Prices for the raw material, have crVdually weakened, contrary to earlier fxpecfetions, and now that the car^purWmkness in January distwoed ™c warn undermining of confidence. EFFECT OF SILK WEAR, Tf is.difficult/to. trace the fundamental rauses It that the oreigij Ihefr sail • Jimits of absorption . and exbeen disappointed.' Some favour-J «?« ;„„'that the laree expansion during u-o of artfficia si k consumption for hosiery; MW weal "aid knitted goods has cawed some displacement, although it is being mini lareelv and generally blended with "ool'thaf ever before. The financial lactor has not. been altogether absent in ib. effect on the markets, .especially Mth lecent failures and restricted credits. i" OUTLOOK MORE HOPEF.UL. The depression is, however, beinc paKins over-expressed, and in the Home Se ttoe appear' to be : ™r*Hhogeful prospects .on the horizon. ' lorkshlie is not.oVer-burdened .with, heavy supplies ot wool There is also general agreement that Tt the piece goods end thereto 'are comparativfily .light.,- The, restoration of connSence. in present values, would speedily giS-impetus to demand;,and |pod grounds for an early return ot better feeling/ There is a growing opinion that RVen nfost depressed, are a so beginning to 1 enjoy a greater activity ..in.l .1 .bet. paft -few days. Consequently the outlook appears to be more hopeful.