OUTLOOK FOR WOOL

Otago Daily Times, Issue 21446, 22 September 1931, Page 7

OUTLOOK FOR WOOL

MR DEVEREUX’S REPORT LITTLE CHANGE IN POSITION. LONDON, September 20. The Australian Wool Council’s representative (Mr W. P. Devereux) reports: — “The general position continues difficult, and, although there has been considerable talk of a radical change in Britain’s fiscal policy, the appearances point to no change until after the general election. The London sales opened substantially below July rates, but with early good competition from the Home) trade and limited competition from the Continent. British buying, to some extent, has been stimulated by the dis cussions regarding the tariff. Reports from Bradford indicate a more cheerful tone, the fall in price having been largely discounted last week. It is stated that .... the present prices for tops are - still below parity of. wool values in London. Most top makers are firm on last week’s; quotations. In yarns there is very little 1 new business offering. “ Conditions in Germany are exceedingly difficult. With regard to France, although a few transactions in tops are quoted, generally speaking, the market is weak in yarns, but there is comparatively more activity in Belgium. Prices for raw wools are weak, and transactions are limited to the futures market. Antwerp and Roubaix showed a temporary improvement immediately after the opening of the London sales, but the advance has since been lost.”