WOOL SITUATION

Evening Post, Volume CXVIII, Issue 60, 8 September 1934, Page 12

WOOL SITUATION

SYDNEY MARKET REVIEW THE CONTINENTAL FACTOR

(By Telegraph.—Press Assn.— Copyright.) (Received September 8, 10 a.m.) SYDNEY, This Day.

The weekly wool letter of the "Sydney Morning Herald" states that the opening of the Sydney wool auctions produced mixed feelings, owing to the decline of 20 per cent, on good wools, 20 to 25 per cent, on average to inferior, and 30 per cent. on very faulty lines. Satisfaction, however, is .expressed that the decline was not greater, considering thai the Continental inquiry is so restricted, although the tone exhibited better strength towards the end of the week. Japan usually adopts a "wait and see policy, but is a most consistent buying force this year. Erbm January to May last, Japanese wool imports were 115,500,000 pounds. Yorkshire was also a bulky buyer, taking well-grown wools freely; but the combined European demand was not so strong here as at the Brisbane sales. The week's offerings totalled 33 291 bales, of which 75 per cent, were sold at auction, while withdrawals consisted chiefly of very faulty wools. . The week's sales averaged aproximate y lOd per lb as compared with 12.7 d per lb at the same stage during last season, and 14d secured for the whole of September, 1933 - , ,- ■ xi a On a clean scoured basis on the floor ' of the Sydney stores 64's-70's counts spinners' fleece realised 27d per lb; 64 s spinners' fleece, 2od; G4's-70's, average topmaking fleece, 22d to 23d; G4's average topmaking, 22d; good pieces, lOd; good bellies, 18d.