LONDON WOOL SALES

Hawera Star, Volume XLVII, 26 March 1928, Page 9

LONDON WOOL SALES

'SITUATION WITHOUT PARALLEL” STRONG RAW' MATERIAL POSITION. BY CABLE—PRESS ASSOCIATION—COPYRIGHT. LONDON, March 24. The second series of wool sales is proceeding most satisfactorily. There is no isign of weakness of any description, and competition from all quarters is- well maintained. Writing ou the position at Bradford, the “Economist's” correspondent says: “The impression created by the London sales is that all available wool will lie wanted, and in some quarters the belief i,s still held that- values are likely to be higher in the autumn. The influence of a stiong raw wool position is seen in the very firm quotations for tops, in which there is a steady turn over, especially in crossbreds.” Another Bradford correspondent writes: “A leading member of the trade remarked that during his 40 years’ connection with the wool business hp never had known a situation parallei to chat existing to-day. The .salient feature is to be found in the fact that the actual consumptive demand having been sustained and accelerated, since the beginning of the season, raw material has never been known to be so- freey absorbed upon arrival, and that consequently the quantity of wool still to come forward available for further contracts is unusually small compared with supplies which customarily accumulated at this period of the year to provide for the in tor-sea son's requirements.”