COMMERCIAL

King Country Chronicle, Volume XXVI, Issue 3440, 8 March 1932, Page 8

COMMERCIAL

THE WOOL MARKET. ——— FIRM TONE IN LONDON. London, March 6. Mr. W. P. Devereux, London representative of the Australian Woolgrowers' Council, reports as follows: The opening of the London wool sales was rather better than had been anticipated. Some irregularity had been apparent, but the week's sales finished with a very firm tone, with keen general competition for all classes. Merinos were selling well up to late closing rates. More discrimination as regards quality was being shown. Fine crossbreds were also keenly sought, medium coarse desoriptions meeting with good competition at opening rates. A more cheerful and optimistictone in British financial circles has developed, but it is not yet materially reflected in the wool markets. Political uncertainties, exchange restrictions and a tendency to watch the course of the London market restricted operations prior to the sales.

The volume of transactions in tops last week was reduced, with some easing in prices.

Trade in Belgium and France is quiet. The futures markets in Antwerp and Roubaix are quiet, and quotatinos are practically unchanged.

NEXT AUCKLAND WOOL SALE.

ON 21st MARCH.

The next Auckland wool sale will be held on Monday, March 21.

DAIRY PRODUCE. MARKET REPORT. Messrs. Leonard and Son, Limited, report having received advice by cable from Mr. A. C. Rowson, London, dated March 4, of the following market report:— Cheese.—Deliveries: N.Z. and Australian 26,593 crates, Canadian 5571 boxes. Stock: N.Z. and Australian 62,127 crates, Canadian 131,822 boxes. Price: White 61s, coloured 625. The demand is steady and the market very firm. Outlook-—anticipate advance.

Butter. Price, first-grade 108 s, finest grade 109 s. The demand is slow, and the market firm. Outlook —probably advance.