Wool Jumps at Sydney Sales

Manawatu Times, Volume 62, Issue 3, 5 January 1937, Page 6

Wool Jumps at Sydney Sales

EFFECT OF JAPANESE COMPETITION

United Press Association—By Electric Telegraph.—Copyright. Received Monday, 9.45 p.m. SYDNEY, Jan. 4.

The wool sales were resumed todays, special interest attaching to the presence of Japanese buyers after a protracted period of abstention due to the trade dispute. Japanese competition to-day on suitable lines was a particular feature of the market which was exceptionally buoyant. The best descriptions of fleece compared with December rates advanced 5 per cent., while average to good lines and all descriptions skirtings were 10 to 15 per cent higher. Carbonising sorts advanced 5 per cent. Excellent competition came from Yorkshire and the Continent. Greasy Merino sold to 30d. The offerings totalled 12,839 bales of which 12,429 were sold, also 1745 privately. Higher Values at Melbourne Received Tuesday, 1 a.m. MELBOURNE, Jan. 4. Japan re-entered the Melbourne wool sales to-day whereupon values increased from 7£ to 10 per cent. Japan’s first bid was loudly applauded. Competing .over a wide range oi wools Japan secured a large proportion of average style fleeces and skirtings. Although Japan’s resumption was the principal cause of the increase strong United States competition was also a factor.

The offering of 8900 bales was all sold except 100 bales. The higher values represent an increase of thirty shillings per bale.