WOOL OUTLOOK GOOD

Hawke's Bay Tribune, Volume XXV, Issue 125, 13 May 1935, Page 7

WOOL OUTLOOK GOOD

Present Position Sound PRICES MAY IMPROVE MORE Buying Movement Not Far Off (By Telegraph-Press Assn.—Copyright.) (Received 13, 9.5 a.m.) LONDON, May 12. Tho strong opening at the London wool sales, following the firmness at Australian selling centres, has Oeen naturally reflected at Bradford. Topmakers are able to advance quotations. The “Yorkshire Observer” says that what the trade now wants to know is whether the present advance is likely to be maintained. Responsible men in the industry are saying to-day that they see no reason why wool in the present sound position should show any weakness between now and the opening of the next Australian selling season. The present keen demand by all wool using countries and the fact that the overseas selling season is drawing to a close, with consequent diminishing supplies there, encourage the belief that'prices will remain somewhere near the present level. More than ono trader, indeed, predicts still dearer wool before the season cuds. There seems to be general satisfaction among wool importers and topmakers nt the recent advance, which they believe will bring out business which has been held back because buyers have been uncertain about the trend of prices, and according to reports there have been inquiries which suggest that a buying movement is not far off.