WOOL INDUSTRY

Northern Advocate, 17 September 1934, Page 5

WOOL INDUSTRY

SYDNEY AUCTIONS. EVEN TONE MAINTAINED. (Received 9 a.m.) SYDNEY, This Day. The weekly wool letter in the “Sydney Morning Herald” says that prices for the great bulk of the wool submitted last week at Sydney showed no quotable alteration, but competition was healthier, Yorkshire and Japan buying freely with Continental competition more widely distributed.

The absence of any marked variation in prices is encouraging, but the offerings have been small owing to withdrawals. The wisdom or otherwise of heavy withdrawals remains to be proved, as no development is in sight in Europe to justify the assumption that prices are likely to appreciate, while the conditions for selling wool very freely to the Continent are far less favourable than last year. This week will provide a decisive test, as the London wool sales open tomorrow..

HIGHER VALUES. BRADFORD ANTICIPATION. (Received 9 a.m.) LONDON, September 14. The “Yorkshire Observer” says it anticipates higher values at Tuesday’s wool sales in London. It adds: “Some of the leading topmakers at Bradford expect prices to be about 10 per cent above July’s closing rate. Much depends upon Continental competition. It is anticipated that France may be fairly active, and even Italy, in spite of the restrictions, may do more than is generally expected.”