Australian Authority's Prediction

Horowhenua Chronicle, 11 July 1933, Page 7

Australian Authority's Prediction

FIFTY PER CENT. RISE IN WOOL MUTTON HAS DOUBLED IN THREE MONTHS Received Mondav, 9.0 p.m. SYDNEY, July 10. Mr A. Trethowan, a leading authority on pastoral matters, warns woolgrowers not to sign agreements with speculators touring the country until they see how the market is going in August, when the new series of sades begin. He is of opinion that the opening sales will be at least 50 per cent, ahead of those of the previous year. He added that the improvement in meat prices is most encouraging. The value of mutton in Enghas doubled in three months. As a result fat stock selling at only 8s to 9s a few months ago is now fetching 20s to 28s.

Fine Quality Prices Harden LOW SORTS IRREGULAR LONDON, July 0. Mr W. P. Dcvcreux, representative of Australian woolgrowers in London, reports that the postponement by the Economic Conference stabilisation of currencies question and the fear of inflation by European countries appears to have stimulated competition for wool since the opening of the London series of sales. Prices of merinos in London have further hardened, and fine crossbreds have also benefited by this ' position, but the medium and low sorts are slightly irregular in price. Competition is very keen, British buyers predominating, closely followed by Germany. Very few withdrawals have been made. Quotations in the wool industrial centres have all risen in sympathy with London. The demand for crossbred tops is increasing, especially for the medium qualities, and prices arc hardening. Yarn prices have also moved against buyers, but spinners cannot obtain the full advance. Machinery activity is being well maintained. The gradual improvement in the. French woollen industry continues and with less unemployment. Prices have moved up in sympathy with those for the raw material. Sales of tops in Germany are well maintained, especially for merinos, at improved prices. A substantial decrease in German stocks of wool tops is anticipated. The Continental futures markets arc active and quotations have been advanced.