WOOL MARKET

Evening Post, Issue 17, 20 July 1936, Page 12

WOOL MARKET

"STARTLING PRICES"

GERMANY AND RUSSIA

Henry Dawson, Sons, and Co., Bradford, in commenting on the London wool sales, remark that the market is dominated.by Russian and German operators. The Home trade is startled by the prices paid ■ for crossbreds, though the statistical position is exceptionally sound.

The future level of prices is not bound up with Japan's action in the autumn. While her total takings from the world clips may be less, the offerings should ultimately be absorbed in view of the real need for raw material by Russia, Germany, and Italy.

Nevertheless, the marketing of the new clip in view of financial hindrances should be carried out cautiously. It is noticeable that towards the end of the sales advances have brought out orders from mariy quarters which otherwise have shown little: interest. This indicates a real demand, and proves that manufacturers have orders on their books which hitherto they have preferred to leave uncovered in the hope of lower values.

No doubt a healthier atmosphere exists as a result of the improved market and good clearances. The usually difficult holiday period should be faced confidently without fear of severe : shocks-and fluctuations. ' \

The "Yorkshire Observer" points out that an unusual feature of the sales has been Continental bidding for top lines and merinos.'

Murray, Roberts, and Co., Ltd., are in receipt of wool market quotations from their London agents, showing closing rates of the July series with those of the May series, .in parentheses, as follows:—New t Xealandmerino, 60/ 64's, yielding 48 per- cent.,.7l3d. (13d); halfbred, 56's, yielding -64 per .:■.'cent* ll.?d (lljd); superfine:fcrossbred,'so's, yielding 70 per ceht'.,93d (9Jd); fine crossbred, 48/50's,- mixed pffip. arid card., yielding 72 per cent., 9d (8.? d); fine crossbred,'46/48's, mixed prep, and card., yielding 74 per cent, Bj'd (8Jd); medium crossbred, 44/46's, card., yielding 74 per cent., 83d (8Jd); medium crossbred, 44/46's, prep., yielding 74 per cent, 8?d (8Jd); coarse crossbred. 40/ 445, yielding 75 per cent, BJd low crossbred, 36/40's, yielding.7G per cent., 73d (7£d).