WOOL MARKET

Hawke's Bay Tribune, Volume XXII, Issue 35, 25 January 1932, Page 7

WOOL MARKET

STEADY DEMAND INCREASING CONTINENTAL COMPETITION. CHEERFUL TONE IN BRADFORD. (United Press Association—By Cable— Copyright.) (Received 25, 11.30 a.m.) London, Jan. 24. Mr. Devereux. Australian representative on the Wool Council,' reports that under active and increasing Continental competition, mainly German, there is a steady general demand in Yorkshire. The wool sales in London have shown a hardening tendency,’ and withdrawals of aii descriptions are negligible. Bradford reports indicate that consumption remains sound. There is a fairly cheerful tone. Top-makers’ quotations for Merino tops are higher, but spinners are holding off, and there is not much new business. Prices for crossbred tops are unchanged. The Continental market is quiet owing to the decrease in exports and the complex international situation, but stocks of tops are light. The low prices should stimulate consumption.

The futures market is quiet but steady. There are only minor fluctuations in an upward direction.

SECOND CHRISTCHURCH SALE. SLIGHT RISE FOR HALFBREDS. KEEN DEMAND FOR PIECES. Christchurch, Jan. 25. The second wool sale of the season was held before a large bench of buyers. The full quota of 25,000 bales was offered, several thousand bales having to be held over. The wool was in good condition, and competition was very keen throughout for fine wools, but crossbred was neglected. Bradford was a strong competitor, and good support came from continental buyers, who secured a large proportion of the pieces as well as fleece wool. Local woollen mills competed for super lots of the best fine wools. Most of the crossbred wool was passed in at 4d to 5d per lb. Compared with the December sale, super halfbred was par to |d higher, medium halfbred Id to Ifd higher, and crossbred a shade easier. There was a keen demand for pieces, which showed improvement of Id to Hd. During the forenoon prices ranged as follows: Merino, 7|d to 12}d; half bred, 5d to ll|d; Corriedale, 6fd to UJd; three-quarter hred. 4jd to_9jd; crossbred, 3Jd to 6Jd; Merino pieces, 5Jd to BJ-d; half bred pieces 4sd to 9|d; crossbred pieces, 3|d to sd; crutchings, 2d to 4jd; locks, 2d to 3d.