WOOL OUTLOOK

Evening Post, Volume CX, Issue 143, 15 December 1930, Page 14

WOOL OUTLOOK

LONDON SALES CLOSE

"WELCOME SIGNS"

CnHed Press Association—Jsy Electric T«Ugraph—Copyright. LONDON, 13th December. The November-December series of wool sales closed to-day. The catalogues for the series totalled 126,295 bales, of which Home buyers bought 51,500 bales, and the Continent 59,000 bales. The hold-over, of which 57,000 bales 'were not offered, totals over 61,000 bales, including 23,000 Australian and 41,500 New Zealand. To-day's offerings.—lo,oss bales, including 3013 from New Zealand. Approximately 7000 bales ■ were sold. New Zealand greasy crossbreds sold as follows: .Waipura, 7%d, 7d; Tututornara, OHd, 6%d. The main feature of the-'sales was the general and confident bidding throughout, •with a gradual improvement in. the tone of the market. ::..'.. : •: Merinos.—Fine maintained a very firm level. Average,combings, were somewhat irregular, mostly about 0 per cent, below the opening rates; but scoured made high prices. Average lots declined 5 per cent. Carbonising sorts were unchanged. Crossbreds—All greasy sorts met strong competition, and mostly recovered 5 per tent, from the opening rates. Scoureds and slipea were well competed for, and generally were 5 per cent, higher. Lambs (good) were unchanged. ■•. Short and'faulty sorts declined 5 per. cent. ■ (Received 15th' December, 10 a.m.) LONDON, 13th December. Discussing the wool position at the close <of the London auctions, Messrs. H. Daw'feion and Sons write: "The -new outlook 'furnishes some reason, for hopefulness. 3)emand for legitimate and urgent requirements is now dominating the situation. Low prices are reassuring, and there is a more confident view of values, especially in crossbreds, following their collapse here and in overseas markets in merinos, 'despite a temporary weakness for average torts. "Arrivals from various centres are being absorbed at a rate seldom, if ever, equalled nnd wool is close to machines in practically every consuming centre. ''The cause of any existing nervousness as not inside the wool industry; but in External factors, chiefly financial and political, and the vagaries of Australian and South American exchange have had a great effect on values. The financial disturbance in the United States and the general restriction of credit facilities in most centres ■has been acutely felt, but despite the general political' .unrest and unrenmnerative rates for commodities,' our raw material, along with wheat, is likely to be the first to emerge from the morass. It is natural that staple products should bo least afifected by bad times. '/The general demand for wool and the of returning confidence in its (Value, are welcome signs of healthier conVlitions. It is also reasonable to expect that financial support may be available i'rom new. quarters-.at present attractive prices for. legitimate, consumptive;'requireancuts."'