BRIGHTER WOOL OUTLOOK

Evening Post, Volume CXV, Issue 148, 26 June 1933, Page 8

BRIGHTER WOOL OUTLOOK

Satisfactory reports continue to be received of the condition of the world's wool market. Today all markets are reported as firm, and prices for semi-manufactured wool in the form of tops and yarns exhibit a hardening tendency, both in Great Britain and on the Continent. It is also reported that the woollen industry of Yorkshire—which takes by far the larger quantities of greasy wool from Australia and New Zealand—is active and that unemployment among mill operatives is reduced. Whether this decided and welcome improvement in the value of raw wool is the beginning of a general uplift in the prices of commodities it would be premature to say. The real test of the condition of the wool market will be applied next week when the fourth series of wool sales opens "at the Coleman Street Exchange. Authorities agree that the statistical position of wool is sound, that is to say, there is .a strong probability of supplies being found inadequate to meet the demand, especially if the United States again becomes an important operator in the London and Australian markets for wools of the kind it requires. The exchange position in dollars and sterling is far from settled, and this uncertainty should naturally make buyers and sellers, other than speculators, exceedingly cautious in committing themselves.