The Pahiatua Herald. PUBLISHED EVERY EVENING. MONDAY, FEBRUARY 23, 1931. THE WOOL MARKET.

Pahiatua Herald, Volume XXXIX, Issue 11683, 23 February 1931, Page 4

The Pahiatua Herald. PUBLISHED EVERY EVENING. MONDAY, FEBRUARY 23, 1931. THE WOOL MARKET.

The slight advance, in the price of wool at the last Wellington is ale has caused some people to believe that values for that commodity have reached bedrock, and it is now considered that while there may not be any big advance there is not likely to be a further setback. Wool is in a different category to other products, for it has a wider market, and its statistical position is sound. At the January sale, in Wellington, there was a decline as compared with December sales, and a drop was recorded also at Napier, Auckland, Wanganui and Christchurch. The Condon wool sales opened in January with prices below the December series, and a similar decline operated in the Dominion. B the end of January, however, there was a marked improvement in the London market, and this was followed by a little advance in the principal New Zealand centres. Wellington brokers allowed for a farthing drop m. their valuations, and actual results showed that prices were above January parity by a farthing for ordinary crossbreds described as good top-making wools suitable for Bradford and the Continent. It was noticeable that the rise was greater for inferior crossbreds. The bulk of the offering went to- Germany and Bradford. The opinion is held in some quarters that prices at the next Wellington sale will he such as to create a feeling of confidence that the market is not likely to further recede.