FIRMER

Evening Post, Volume CXIII, Issue 15, 19 January 1932, Page 8

FIRMER

AUSTRALIAN WOOL PRICES

GOOD START FOR 1932

[ (From '!The Post's" Representative.) :.-■■ i ' SYDNEY, 14th January. Because of (adverse reports from European centres and the unsatisfactory situation, the greatest interest wan taken in the opening of the second part of the- Australian wool; selling season in Sydney last week. The selection was only an average one, . but competition, was exceptionally keen throughout th» sales, and the hardening tendencydisplayed was contrary to all expectations.. Keen buying has now been in evidence during the whole fortnight of the series, and Japan has been particularly keen to, secure suitable clips. This week the United States entered the market with unexpected vigour, and prices all round showed a substantial advance, for the best lines. Regarded generally, it may be said that the market maintained pre-Christinas levels,and" this is the most surprising fact ofall." .'"■ ■ ■ ■ ■'' ■ •.. :- ■.. :■. . ■ :„ '

' Beviewing the latest sales one expert expressed- surprise that there had not been a fall in prices of at least 5 per cent. The year had opened very auspiciously, and it was almost safe to predict that prices would be maintained now until the end of the season. ■ Tha Japanese demand was not. unexpected, but it was surprising that the United States should become such a powerful competitor. Then, again, it was interesting to note that Bradford wag; bidding more freely, and this week had paid 17d, the top price of the series,-for a 'stylish clip-showing plenty-of quality. Bradford also went to 16Jd for another suitable clip, while France-on the same day was not far behind with a purchase of 16d; It was gratifying to Australia that at least four nations were competing for the best wool. The general rise in prices this week would average, roughly, 5 per cent.; whereas a fall of 5 per cent, would" not have been, unexpected. -. .

The good features of the Sydney sales were repeated last week at Launceston, where full catalogues were submitted. A. strong sale resulted, and a reliable report quotes the market as follows, as compared with the closing rates in Victoria before Christmas:—Merino fleece, par to 5 per cent, higher; merino skirtings, par; comeback and fine crossbred, 5 per cent, higher; medium and coarse crossbred, 10 per cent, higher; ■ crossbred'skirtings of all grades, 10 per cent, higher.' For the best comebacks the competition of the local mills was a leading feature; but Japan, as in. Sydney, played a very strong hand; .•'