SYDNEY WOOL SALES

Evening Post, Volume CXV, Issue 138, 14 June 1933, Page 14

SYDNEY WOOL SALES

AMERICAN DEMAND

SYDNEY, % June 13. At the Sydney wool sales today 11,320 bales were offered, of which 10.1U2 wore sold at auction; C34S bales were sold privately. There -was very strong competition in all sections, (he American demand again being the dominating feature. , I'rices generally were very firm at the opening day's rates for all descriptions, with a hardening tendency in good spining wools. Greasy merino made 17d. In June, 1932, wool values in Australia were on the lowest level since tho depression' began. They are now 30 to 40 per cent, above that period. \t tho recent Brisbane sales prices were. V/s to 10 per cent, higher than at the Sydney market in May. The Sydney series of sales were resumed on Monday" under very strong seiiernl competition. Tho market, compared with the closing sales early in May, was 15 to 20 per cent, higher, and occasionally more. The greatest appreciation was noticeable on good spinning wools, which enjoyed a keen demand on American account. Greasy merino made 16% d. The offerings for this first sale of the season totalled 11.730 bales, of which 10,471 were sold at auction; also 741G were sold privately. A. private letter received today from <s\ large Sydney wool broking firm read:—"The wool market has been active in Sydney, prices secured for super greasy merino wool privately have been 20 per cent, above the closing Sydney rates of early May, and for pther types of merino 10 per cent, to 15 per cent, higher. America has been purchasing in fair volume."