Wool Market

Grey River Argus, 6 October 1934, Page 2

Wool Market

TURN FOR THE BETTER. CAPETOWN, October 4. There is every indication that the South African wool market has taken a turn for the better, and 'that 'the recent improved limits are not merely spasmodic. Lt is evident that there are more than sufficient orders to absorb the offerings. MELBOURNE, October 5. In another buoyant market, wool prices showed a further strong advance. Prices for most merino fleece comebacks, fine crossbreds and all skirtings rose fully five per eent., and all other descriptions, including lambs, were firm at late ra'tes. There was exceptional buying support from Japan and France. The highest price of the day was 15}d for merino wool. The sales were adjourned 'until next Monday. BRISBANE, October 5. The wool sales concluded with com-o'etiti-on keen, Japan giving very strong support. The s'.'ight improvement in price was maintained and the sales cloned wiith values generally five per cent, higher than at the opening. LONDON. October 4. Dawson and Sons commenting on the woo’ outlook says: A surprising feature of the wool sales ’js that several German houses shared in the buying. The only explanation seems Co bo Germany’s need for wool is so apparent, that it encourages speculative operators, because of the early possibility of the door being more w*idelv opened. The new tone iu the past ten days indicates regained confidence. The indusitry can justifiably be encouraged b}' p'rospects of the coming season. In fact there is an ample sup ply available, values are low. and money is cheap. DECREASE IN IRISH EXPORTS. DUBLIN. October 4. 'rhe Free Sta-'e adverse trade balance for the vear ending August was £19.01 (>,OOO, the highest for ten years. Imports from Britain iT’ci’e:'sed by £l,O-89,000, compared with 1!?33.