SYDNEY WOOL SALES

Evening Star, Issue 21503, 30 August 1933, Page 6

SYDNEY WOOL SALES

BRADFORD'S POSITION COMMENT BY ‘YORKSHIRE POST! Press Association—By Telegraph—Copyright LONDON, August 29. (Received August 30, at 11.30 a.m.) Commenting on the Sydney wool advance, the ‘ Yorkshire Post ’ says:—• “ Bradford is in urgent need of good warp combings, of which the early offerings at Sydney were limited. More than one firm sent out buying limits of 33d in tops and failed to obtain supplies. Others allowed unfettered buying for a limited number of hales. Whether Bradford will be able to support the current values after the urgent requirements have been met remains to be seen, though some people would not be surprised to see a cost basis of 3s for sixty-fours before the season is much older.” REASONS FOR RISE DISCUSSED (Special to the * Star.’] AUCKLAND, August 30. In the course of an editorial on the demand for wool, the Auckland ‘ Star ’ says: ‘ ‘ Among the influences operating to produce a sharp rise in wool at the Sydney , sales the most important has been the competition of British, French, and Japanese buyers. They have shown keenness to secure supplies, which is in marked contrast with the indifference of recent years. It is a reflection partly of the increased-orders at the mills and partly the knowledge that large surplus stocks no longer exist. A substantial fall in Australia’s wool production. is predicted this year, and if this reduction should prove to be as large as some of the forecasts indicate it may. offset considerably the present price advance, which gives cause to doubt whether the gain to the Commonwealth will be £12,000,000, as. stated by a Federal Minister. The significance of the sale is that it is definite evidence of improvement,, in which this dominion can he expected to share. The cross-i bred wools produced here may not benefit to the same extent as the finest orades of Australian wool, but there is nevertheless good cause for confidence.Prices have shown a rise of from JO to 50 per cent., and an advance of tno same order in New Zealand would mean In addition of at least £2,000,000 to the wool cheque.”