WOOL SITUATION

Evening Post, Volume CXII, Issue 95, 19 October 1931, Page 10

WOOL SITUATION

STILL SPECULATIVE

GERMAN POSITION CRITICAL

(Received"lßth October, 11 a.m.)

LONDON, 18th October

.Mr. W. P. Devercux, official representative in Europe of the Australian Woolgrowers' '.Association, reports that in view of the chaotic conditions prevailing in politics and in-finance in all the wool consuming countries, the condition of the trade can best' be described as "good us the circumstances permit in existiug conditions."

Uncertainty in the future of the market renders all-transactions more or less of a speculative character. Official reports from Bradford, however, indicate that this increased price for the raw material in the primary markets has resulted in a hardening tendency for merino tops, and considerable inquiry is reported and some new business, the production being taken up freely.

The-tendency in the crossbred tops market is in sellers' favour. There is also a certain amount of new business reported.

Machinery is active in all sections; but there is no undue optimism, yet a certain amount of quiet satisfaction is noted. The tono 61' Bradford may be described as cheerful.

The German position continues most critical. Sales of tops last week again exceeded a million kilos. French sales of tops are fully maintained, but the yarns market is less active. Transactions for export are difficult; whilst inquiries from French users have diminished.

The general financial position on. the Continent continues to cause anxiety and check 9 business. Most of the combing mills in Belgium are working at half-time, but sales of tops are reported to be satisfactory. Scoured and ca'rbonißed. wools, too, are meeting a better demand. The futures markets of Antwerp and Houbaix exhibit a slightly hardening tendency. '