THE WOOL POSITION

Northern Advocate, 15 July 1925, Page 4

THE WOOL POSITION

The resumption of wool salej in Australia after an interval of three months is good news. Melbourne, the first of the great centres to 'hold a sale, is able to report that good general competition was evoked, prices being on a par with those ruling in April. Brisbane should now be having its sale, and Sydney is to follow next week, so that the strength of the market should soon be known. The London wool sales, which opened a week ago, seem to have done much to restore confidence. Contrary to expectation, the French and German buyers operated more freely at the opening than the Bradford representatives did, the Continent apparently being so short of wool that money had to be found for purchases. The disappointing feature of the market has been the failure of the coarser kinds of crossbred wool to create a demand, except at a rather poorer price than before. There is, of course, at the moment an abundance of half-bred ftnd crossbred wools, this British clip being now available. The most satisfactory feature is that the tone of the market is much better than it was at the May sales. The hold rs of crossbred wool can scarcely be persuaded to accept the current prices, and it is probable that a good deal of this class Of wool will be withdrawn from sale, Elnd reoffered in September* ,<sjr even at the later sale in November. The conditions favour a 'return of' confidence, but much will depend upon the attittire of sellers. If they'restrict busi-, ness by - withdrawals, the trade will flrom uncertainty, and that breaks confidence. The position will become clearer as the sale 3 progress.