WOOL

Nelson Evening Mail, Volume LVI, 13 July 1925, Page 5

WOOL

DARK CLOUDS LIFTING

HAS LOW-WATER MARK BEEN REACHED?

TRADE NOT YET SATISFIED

(By Electric Telegraph.—Copyright.) & V.Z. Cable Association.

LONDON, July 10.

At the wool sales, there was an average selection of Merinos. There was a good offering of crossbreds. Prices are firm. New Zealand A.H.W. made up to 18d and averaged 16d to l&pl. The Yorkshire Post’s Bradford correspondent says: — “For the moment the dark cloud*, which has hung over the wool trade is considerably dispelled by the manner in which wool sold in London. Nevertheless, spinners and manufacturers are not convinced that wool has yet reached low water mark. If the opening wool sale prices are maintained throughout the series, they believe a lower basis will be reached when the new clip is marketed, three or four months hence. They are shaping their polity on tjhis assumption, therefore they.are unwilling to speculate.” The' Yorkshire Observer says:— “Though opinion at this early stage of the wool sales is cautious, the view appears to be growing that the wool price drop has definitely exhausted itself. Monday’s , sales in Australia are keenly awaited. Idle main development at. present in Bradford is increased inquiry which resulted from the confidence that* a substantial volume of business is maturing.” AGENT'S ADVICES Messrs E. Buxton and Co., Ltd., adivse having received the following wool market cablegram from their Londn agents, Messrs. Sanderson. Murray, and Elder Ltd., under date 10th inst. : “56’s yielding 60 per cent, 21^d; 50’s yielding 65 per cent, 17|d ; 44/46’s preparing yielding 74 per cent 15£d: 44/46’s carding yielding 72 per cent, 14jd; 40/44’s yielding 73 per cent, 14gd; 36/40’s yielding 75 per cent, 14|d. Quotations are based on good style wool. America buying suitable wool at about Id higher; average and faulty wool Id to llpl lower.” . Messrs Dalgety and Coy., Ltd., report having received the following cablegram from their London house under date 10th inst.: — Wool sales continue firm and lately reported rates are fully maintained. Demand active. Fine crossbreds are par to 5 per cent, higher. Good, bright American style medium crossbreds are fully as high as last sales. Shabby parcels are slightly -easier.