WOOL MARKET

New Zealand Times, Volume LII, Issue 12095, 24 March 1925, Page 5

WOOL MARKET

MERINO PROSPECT BETTER.. CROSSBREDS STILL WEAK. Australian and N.Z. Cable Association. LONDON, March 22. Discussing the wool position, a leading importer -says: “There are many hopeful indications that the downward movement in merinos has been checked. It must be borne in mind that from the supply point of view, roughly twothirds of the year’s clip has been sold in our distributing markets. “Stocks of merino tops and' wools in the consuming markets, both on the Continent and in America and even in Yorkshire, are generally below normal. Continental buyers are already finding that the present basis is beginning to enoourage demand. They are probably better situated than' the Home trade as regards stocks, and tho financial stringency which compelled them to operate sparingly in the colonial markets has turned out to he an advantage in the long run. “There are evidences also that the great preferential call for cheaper grades during the past year will be less acute, now that the fine grades have declined so materially. It is certain that the demand will always favour fine goods where values are reasonable- a “Tho position for crossbreds and coarser wools does not yet apear to be quite so hopeful as merinos. Competition for the former at the present series has been very Black. Although fine wools have slightly hardened, crossbred prices are very erratic, weak generally, and show a decline on the opening rates.”