PRICE OF WOOL

Evening Post, Volume CX, Issue 131, 1 December 1930, Page 12

PRICE OF WOOL

THE MARKET PROSPECTS

LONDON, 30th November. Regarding the wool position, the "Yorkshire Observer's" correspondent writes that a hardening tendency is notified at the London sales. Merinos are altogether in | steadier condition than crossbreds, and the cheapness-of-finer wools has so increased i the consumptive demand and the actual manufacturing output that renewed, vitality has been created in this section of the industry,-confidence has returned, and values are-established on a firmer foundation, v But there was a weakness in the crossbred section .which was drastically demonstrated when the New Zealand sales opened in Auckland. Opinion at Bradford, 'however, is consolidated around the idea that the improvement will eventually bo general. It is argued, apparently with some reasonable justification, that "provided the consumption of merinos continues the finer grades! of wool will appreciate, and, as a necessary corrective to the excessive rise in consumption, will spread to those lower\ down on the scale.