WOOL IN DEMAND

Manawatu Standard, Volume LIII, Issue 252, 21 September 1933, Page 7

WOOL IN DEMAND

LONDON SALE RATES FIRM. SEVERAL POTENT FACTORS. ACTIVITY IN MILLING. (United Press Association.—By Electric Telegraph.— ; Copyright.) Received September 21, 9.50 a.m. LONDON, Sept. 20. At the wool sales 10,853 bales were offered, including 6464 from New Zealand, and 9885 were sold. There was active Home and Continental competition and a very firm tone prevailed. The bulk of the offerings were sold at full opening levels. New Zealand sales included the following: Greasy Merinos, branded “Anchor Docklands,” top price laid, average 14Jd; scoured Merinos, “Shelton Downs,” 26d. The Evening Standard, apropos the wool position, mentions that a potent factor is the craze for knitting. Furthermore, big British interests are negotiating with a large German firm to develop the trade in tapestry and yarns, likewise building a mill. Yorkshire papers. speak encouragingly of the activity in the mills and state that unemployment at Huddersfield is only half that of 1932. CHEERFUL REPORT. BROKERS AND FUTURE. Received September 21, 11.20 a.m. LONDON, Sept. 20. Messrs H. Dawson, Sons and Co., Ltd.’s report says we must forget the lower levels of pessimism of 1932. The broadening and strengthening business in most spheres of commerce, with the peak of consumption which has developed for all the finer wools, demand a new envisagement of the whole position. It would be foolish to underestimate the machinery pressure of the moment and the fact that supplies will be more plentiful towards the end of the year, but we should take into account the general improvement in business and financial conditions. “If a balance is struck, the position appears to be fairly sound. Trade may rest comfortably in the hope that immediate fluctuations will be of a minor character. The market shows evidence of the strong available, purchasing power and many mills’ order books are full for months ahead, especially in the woollen section,” the report adds. URGENT REQUIREMENTS. OBSERVATION IN BRITAIN. LONDON, Sept. 20. Commenting on the London wool sales, the Financial News says: “There is an undoubted squeeze between available supplies and urgent requirements. It is equally necessary to realise that the new, broader outlook must be accepted as regards values. The advance in Merinos of fully 50 per cent, on March levels cannot be treated altogether as ephemeral.” Speaking broadly, the shelves were seldom more bare of cloths or wool warehouses so empty of raw wool. The reports from Australia are encouraging. The new level of values will save thousands of growers from disaster. Leicester manufacturers to-day raised prices of all hosiery containing wool from 5 to 20 per cent., according to wool content. THE SYDNEY SALES. CLIPS SELL READILY. Received September 21, 11.20 a.m. SYDNEY, Sept. 20. At the wool sales 12,295 bales were offered and 1161 sold, in addition to 2265 that were disposed of privately. All free clips sold readily at full late rates, but buyers showed more discrimination on very burry lines. Irregular greasy Merino sold to 21Jd for 12 bales from Bellata. Other prices included 21Jd for Gnoulamein,-Moree fleece. Necks made to 18id, broken 18Jd, pieces 17id, lambs 18Jd, bellies 13id, comeback 16d, crossbred 15Jd.