Values at Sydney Wool Sales Fully Firm

Manawatu Times, Volume 60, Issue 67, 21 March 1935, Page 7

Values at Sydney Wool Sales Fully Firm

COMPETITION AGAIN STRONG United Press Association.—By Electric Telegraph.—Copyright. Received Wednesday, 10 p.m. SYDNEY, March 20. At the wool sales 9610 bales were offered and 9050 sold; also 494 privately. Under strong competition, values were fully firm at the previous day’s levels. There was also a further strengthening of tho demand for all spinnetV wools, the prices of which showed a hardening tendency'. Greasy Merino made 10jd. London Market Steady GERMANY’S RECENT BUYING LONDON, March 19. At the wool sales 7666 bales were offered, including 4724 from New Zealand and 2236 Australian, and approximately 6212 bales of New Zealand and Australian were sold. There was a liberal assortment of New Zealand crossbreds, which met with a good Home trade demand at fully steady prices. Best Merino tended in sellers' favour. Now Zealand greasy crossbred, branded Akitio, reached lOd and averaged 7jd. Tho scries ends ou March 26. Tho Yorkshire Observer says that Germany’s recent huge wool purchases were undoubtedly' connected with; her conscription plans. “The wool industry' is most sensitive to international events and Germany’s action is likely to result in further repercussions. The present exchange rates mean that gold standard countries can buy wool absurdly cheaply from countries off gold,” states the paper. “Germany’s action may' have encouraged firms in the gold countries to speculate in raw materials, particularly wool, as a cheap and safe investment of their funds in the event of their countries abandoning gold.”