WOOL PRICES IMPROVE

Evening Post, Volume CXV, Issue 108, 10 May 1933, Page 8

WOOL PRICES IMPROVE

Gratifying news of the wool market is conveyed in cable dispatches : today reporting the opening of the May series of sales in London. Merino wool, in whiqh New Zealand is very slightly interested, showed an advance on March series' closing rates of 7|- per cent, to 10 per cent., but there was also an improvement in the values of crossbreds, which constitute some 90 per cent, of the wool grown in this Dominion. For the finer qualities the.increase in price was from 7| per cent, to 10 per cent, while the medium.sorts were 7£ per cent, better, and the coarser, descrip-' tions were 5 per cent, better. The March sales.snowed a fall of about id per pound on those of February, so that the market position today may be,said to be much as it Was early in the year. With the still overclouded condition of international politics and the uncertainty in commerce and finance which is to be expected before the World Economic Conference opens next month, it is not to be wondered at that the price of raw wool still remains low. ThereIfore the present improvement in the lvalue of the staple should be very acceptable, small as it may be, as it may indicate a general uplift by the time the July series of London sales opens. Good clearances of wool have been made this season in both Australia and New Zealand, and in 1 this Dominion the exports during the past ten months were 121,200 bales | more then for the corresponding ten (months of 1931-32.