LONDON WOOL SALES

Evening Post, Volume CXXVI, Issue 7, 8 July 1938, Page 12

LONDON WOOL SALES

. The Union Bank's produce department in London has advised by cablegrams as follows: —At the wool sales about to open here it is anticipated that prices, as compared with last sales, will be approximately: Merinos at par to 5 per cent, dearer, but crossbreds no change.

Henry Dawson, Sons, and Co., Ltd., Bradford, reporting immediately after the May safes in London, remarked that "the textile industry in most European centres is passing through a difficult and somewhat depressing period. The worsted section shows the most vitality, although spinners are finding it difficult to keep their spindles fully employed, and consequently inadequate prices are being accepted to avoid idle machinery." Describing the New Zealand crossbred position, the firm observed that "the selection of New Zealand crossbred wools in London has been comparatively large in quantity, and has provided excellent choice. There was some hesitation and irregularity in values during the first week, probably owing to the heavy supplies available. A better confidence has been established during the closing week with a keen and general competition, resulting in a decisive advance in prices for greasy descriptions, although Russian support has been practically negligible this series."