WOOL PRICES

Otago Daily Times, Issue 22064, 21 September 1933, Page 9

WOOL PRICES

THE RECENT FIRMNESS

PEAK NOT YET REACHED

(United Press Association.) (By Electric Telegraph—Copyright.)

LONDON, September 19.

Discussing the firmness of wool, the Yorkshire Observer says that many people think that the best prices will be seen at the end of the season, when better clips are offering. It quotes a circular issued by the Campagnie Commerciale Kreglingers, of Antwerp, expressing the opinion that the Australian clip is not only 300,000 bales short, but it is lighter in weight, fleeces virtually having double shrinkage. Furthermore, it is likely , that the South African diminution will be between 150,000 and 250,000 bales. The Yorkshire Post comments on the limited offerings of shafty, greasy merino combings of Bradford style, and adds that the preponderance of lower crossbreds is less embarrassing now that weavers are popularising mohair worsted linings.

FINANCIAL NEWS COMMENT.

LONDON, September 20. (Received Sept. 20, at 11.55 p.m,) Commenting on the wool sales, the Financial News says: “There is an undoubted squeeze between available supplies and urgent requirements. It is equally necessary to realise that a new and broader outlook must be accepted with regard to values. An advance in merinos of fully- 50 per cent, on the March levels cannot be treated altogether as ephemeral. Speaking broadly, shelves were seldom more bare of cloths or wool warehouses so empty of raw wool. The reports from Australia are encouraging and the new level of values will save thbusands of growers from disaster. Leicester manufacturers to-day raised the prices of all hosiery containing wool from 5 to 20 per cent., according to wool content.”