WOOL REVIEWED

Evening Post, Volume CXIX, Issue 109, 10 May 1935, Page 10

WOOL REVIEWED

RAW MATERIALS AND GOODS

(By Telegraph.—l'ress Assn.—Copyright.) (Received May 10, 10 a.m.) LONDON, May 9 Henry Dawsou, Sons, and Co., Ltd., in commenting on the opening of the London wool sales, state that the selection was above the average. Au outstanding feature of the sale was the Continental buyers' special keenness for crossbreds, though Germany bought little. Competition was brisk, bat the outlook is diflicult to gauge. Tops did not respond to the recent advances in the price of the raw material. Yarns arc suffering from a spasmodic demand. Further rises in the price of wool may check consumption which is irregular. Worsted mills are fairly prosperous, but the woollen section of the trade is quiet, many machines being idle. The greatest need at the moment is a rise in the price of the manufactured goods.

The Bank of New South Wales is in receipt of the following cable message from their London office dated May S:—London wool eales: Merino, 10 per cent, to 15 per cent., and crossbreds and slipes 10 per cent higher than last sales close. Good and general competition. AVright, Stevenson, and Co., Ltd., and Abraham and Williams, Ltd., report having received cable advice from their Bradford agent regarding the tops market reading as follows:—Merino and fine crossbred tops are %d up, while medium and coarse crossbred tops are slightly dearer. The London sales have considerably strengthened the situation. There is a fair amount of inquiry and a moderate amount of business is passing, mainly in fine crossbreds.