THE WOOL MARKET

Evening Star, Issue 21836, 27 September 1934, Page 7

THE WOOL MARKET

LONDON SALES KEEN COMPETITION Press Association —By Telegraph —Copyright. LONDON, Setember 26. (Received September 27, at 10 a.m.) At the wool sales 10,055 bales were offered, including 4,196 from New Zealand. About 7,320 bales of Australian and New Zealand wool were sold. There was brisk competition, and prices showed a tendency in sellers’ favour. New Zealand greasy cross-bred, “ Opaina.” top. 9*d, average 7*d; lamb, slipe, Feilding, lljjd and lOd. ' Messrs Murray, Roberts, and Co. Ltd. have received the following wool market cablegram from their London agents, Messrs Sanderson, Murray, and Elder Ltd., dated 26th inst:—“Sales continue with a good tone; improved Continental competition; except inferior descriptions, par to 5 per cent, advance; cross-bred, except the finer descriptions, advanced 5 per cent.” GERMANY'S EMBARGO LITTLE PROGRESS IN NEGOTIATIONS. LONDON, September 26. (Received September 27, at 10 a.m.) The ‘ Sun-Herald ’ service learns that there is no immediate prospect of Germany removing the wool embargo. Sir Frederick Leith-Ross is returning to London at the week-end to report progress, after which he will return to Berlin, but the negotiations are practically stationary. The British Government is most pessimistic, because the German Government is raising innumerable difficulties. SYDNEY WOOL SALES KEEN BIDDING Press Association—By Telegraph—Copyright. SYDNSY, September 26. At the wool sales 8,422 bales were offered and 7,120 sold, while 1,218 were disposed of privately. The level of values was well maintained, and there was a distinctly improved demand for better descriptions of wool, with keen bidding by Japan, Yorkshire, and France, with some support from Germany. Greasy merino made 15Jd for ten bales from Relate. WOOL RESEARCH SUPPORT FOB LEVY PROPOSAL [Pee United Press Association.] CHRISTCHURCH, September 26. Support for the proposed levy on wool to provide a fund for research into sheep breeding, feeding, and management was expressed at a meeting of the executive of the North Canterbury Farmers’ Union to-day. Mr W. W. Mulholland said he thought the farmers ought to be glad to accept the Bill. The' contention that it was unfair to place the whole burden on wool was unsound. Every sheep grew wool, and wool formed a better basis for the levy than carcasses. In New Zealand during the past ten years 21,000,000 sheep had been lost by the farmers. It was possible that very great benefits woukf come from research. Mr J. D. Hall, while he approved of the Bill, said he was not optimistic about its adoption by the House. There was the greatest need for funds for research into sheep feeding and management. In the North Island the hogget losses were appalling. _ They shomd place the case before Ministers. The Prime Minister (Mr Forbes) seemed to think that everything was all right, and it was unfortunate that he did so. Mr Hail said he did not think Mr Forbes cared whether the Bill went through or not. The discussion closed without a resolution being carried.