THE WOOL SALES

Manawatu Standard, Volume LIII, Issue 254, 23 September 1933, Page 7

THE WOOL SALES

RATES GENERALLY MAINTAINED INFERIOR SORTS WEAKER. . THE LATEST QUOTATIONS. (United Press Association —By Electric Telegraph.—Copyright.) Received September 23, 10.40 a.m. LONDON, Sept. 22. At the wool sales 10,036 bales were offered, including 6117 from New Zealand, and 7735 were sold. There was a full attendance. The late rates were well maintained, except for inferior qualities, which were slightly irregular and weaker.

Quotations. Greasy Merinos:— Queensland, top price 17d, average 15|d; New South Wales, 17)d. Scoured Merinos.—Queensland, top price 27Jd, average 25|d; South Australian, top price 25d, average 23 Jd. New. Zealand sales were: Branded “Gerard,” 27d; greasy halfbred, branded “Baffields,” top price 16d, average 15)d. A STEADY LEVEL. POLICY OF JAPAN. SOUTH AMERICAN PURCHASES. Received September 23. 9.30 a.m. . LONDON, Sept. 22. The Yorkshire Post’s wool expert says that London’s substantial endorsement of the overseas rates, though not sensational, has confirmed most people’s desire to see a steady maintenance of the level commanding general support, contributing valuably to Home confidence and increased consumption. The Yorkshire Observer lengthily interviewed manufacturers in relation to Japan’s threat to divert her purchase to South American wools as a reprisal against Australia’s anti-dumping tariff. All agree that it is bluff, because the South American supply of Merinos is limited, whereas the Australian is plentiful, and it is essential for the goods in which Japan specialises. Even if Japan did transfer it, this wottld only increase the price of South American and encourage Bradford to restrict their purchases there a.nd buy more from Australia. Nevertheless, it is significant that Japan is crossing Australian sheep with Mongolian breeds.