THE WOOL MARKET

Evening Post, Volume CXXVII, Issue 83, 10 April 1939, Page 10

THE WOOL MARKET

STILL KEEPS FIRM

THE CROSSBRED DEMAND

(By Telegraph—Press Association —Copyright.)

LONDON, April 8. 'The wool market remains firm. Supplies continue to be taken up despite international uncertainties.

"What the future holds in store for us can only be decided by the eventual attitude and strength of public opinion towards its political problems in Europe and the world generally."— H. Dawson, Sons and Co., L •!., wool brokers.

The above sentence is from a recent review of the "wool market of the world."This well-known firm, with its representation in London, Bradford, Boston, Toronto, and centres of the wool trade in Belgium, South Africa, Australia, and New Zealand, observes that most commodities are now down to a reasonable level, which must eventually create additional demand by their relative cheapness.

"Happily, we can rank our own commodity of wool am6ngst these. Both in the overseas markets and in London, merino wool especially seems to be at a reasonable level, and must sooner or later command interest froni the speculator, who usually turns the trend of values from the low point upwards. From the producer's point of view likewise, the sooner this, occurs the better."

The recent disparity between the value of crossbreds and merinos is noted, but this has been ironed out to some extent, crossbreds haying receded a little more than merinos, although they still appear on average a little out of line in relatiye value to the finer grades. The disposals of wool in the overseas markets continue at a very healthy rate. _

If Japan and U.S.A. were to re-enter the markets with even small orders, the effect would be instantaneous in the opinion of the authorities quoted. Trade and production figures 'in the last-named country seem to indicate a slow but gradual improvement.