WOOL MARKETING.

Manawatu Standard, Volume LX, Issue 227, 23 August 1940, Page 8

WOOL MARKETING.

SOUTH AFRICAN SALES. AGREEMENT WITH BRITAIN. Received August 23, 1.10 p.m. LONDON, Aug. 22. _ The Bradford report says a. fair amount of Government business, especially in knitted wear, has caused some activity in the hosiery yarns section. The civilian market is quiet, but there are occasional transactions. The general trend of quotations for yarns is in favour of buyers. Trade circles state that South Africa and the United Kingdom have reached an agreement regarding the purchase of South Africa’s new wool clip. It is understood South Africa will be placed on much the 6ame footing as New Zealand and Australia, with Britain taking the bulk of the South African wool for the duration of the war and a year afterwards. South African wool buyers benefited substantially by selling in the open market during the first nine months of the war. but the invasion of the Low Countries, Italy’s entry into the war, and France’s capitulation reduced buyers to such an extent that the average price fell during July to KRd a pound.