BUYING STRENGTH

Evening Post, Volume CXI, Issue 100, 30 April 1931, Page 14

BUYING STRENGTH

(From "The Post's" Representative.) SYDNEY, 23rd April. Australia has been watching very closely the New Zealand wool sales which are regarded as fully testing the market for crossbreds. . There is gratification that the sales should indicate a full 'maintenance., of recently-quoted rates for everything except the lowest grades. This is thought to be a reflex of Bradford, where the market for tops has been quietly firm for all qualities except the coarsest t crossbreds, which have been fractionally'shaded in price. While Australia watches New Zealand, New Zealand is probably just as keenly interested in the Commonwealth market. The Brisbane sales last week, and the Sydney sales this week have given further evidence of the great buying strength that continues to force the market toward a level which once again shows a margin of profit to the grower. Reviewing recent sales a Melbourne expert says that Japan continues to be the most spectacular buyer and is securing a great weight in wool, but every section of the Continent has also been fully represented in the bidding. Bradford orperated sparingly at Brisbane, but that was because the offerings were iiot particularly suited to its-requirements.- .At. the wool sa'/m in Sydney' this week Skere.has been marked competition between 'Germany and France, with Bradford always willing to force the pace.' There has been spectacular competition, and on more than one occasion Trench buyers have .'shown a determination not to be beaten. The great improvement that has taken place in the market in recent weeks is indicated by the fact that whereas the average price of all wool sold in Australia during the first nine months of the Eeason was only 8.53 d the average for March was 10.64 d. Of course, sales up to 20d are now quite common.