WOOL OUTLOOK.

Hawera Star, Volume XLVIII, 5 February 1925, Page 5

WOOL OUTLOOK.

FROM THE! LONDON END. TEXTILE! TRADE! IMPROVING. BY CABLE—rRESS ASSOCIATION— COPYRIGHT. LONDON, Eeb. 3. Describing the wool outlook, a leading member of the- trade .says: In® position generally is not serious, it a reasonable working basis of values could be determined, which unfortu'nately the London sales did not discover or establish. Owing to the withdrawal of such a large proportion of merinos, buyers were not induced to make tlie best offers, and it is dithcult to say on what basis reliable quotations can be made. In a rough \va> it seemed to be indicated that, while buyers wished to operate at a decline of about 10 per cent, from the December rates for good combing merino, sellers would not accept a greater depreciation than o per cent., except- tor inferior or very faulty parcels. The new season’s orders are being seriously checked for both the home and overseas trade, particularly with the United States, according to the authority mentioned, who adds: “This is unfortunate, as strong hopes had been held of an increased volume of orders. Even as it is, there are many encouraging signs of returning prosperity. Our own textile section is steadily recovering from the financial difficulties resulting from the collapse in 1921-22. There are signs of improvement in the cotton, section and the engineering and allied industries, which will assist the general home trade, while the brighter European outlook and the- renewed inquiries for export have strengthened the hope for a good year. Information from many quarters shows that clothing stocks are not heavy, and that good orders are waiting to be placed.'’

LONDON SALES

DECLINE ON DECEMBER' VALUES.

LONDON, Feb. 3

The wool sales closed disappointingly. Germany and Yorkshire were moderately active, while a few United States buyers operated very cautiously. The offerings at the series included a splendid selection, of combing merinos, but there were heavy withdrawal® owing to high reserves. Prices were irregular. • Good wools were 5 to 10 per cent, below the December rates, and faulty showed a decline of from 10 to .15 per cent. A good selection* of crossbreds, both new and old, met with good competition and were mostly cleared, hut prices weakened towards the clo.se. and are now 5 to 10 per cent, below the December rates. Scoured® and slipes did not meet with such good demand, and price's ranged from par to a decline of 5 per cent. Lambs’ wool sold well at from par to 5 per cent, under the December levels. New. Zealand sales:—“Ma.ta.raua,” top price, 33d; average, 26-)d.