THE WOOL IMPROVEMENT

Poverty Bay Herald, Volume LX, Issue 18192, 13 September 1933, Page 8

THE WOOL IMPROVEMENT

LOCAL CLIPS IN LONDON SEVERAL THOUSAND BALES It is estimated that several thousand bales of Gisborne, wool will be offered in llm coming series of London sates, eommeneing next Tuesday. 'those sheepiurmors with clips catalogued should feel gratified at the recent news announcing a further improvement.

Some of the Gisborne woo! on oiler during the coining sales was field over from previous series. Fairly substantial quantities were sold in the duly sales, but, tin* total remaining unsold m London still runs into thousands of bales, and arrangements have been made to have a. proportion ot tins offered this month.

When talking of the anticipated improvement in the market, Gisborne woolbrokers pointed out to-day that it had to bo borne m mind that the estimates were based on the closing later, in duly, and those values were on a lower level than during the first and second weeks ol the sale. For instance, the. anticipated improvement on rates at the end of July was to fd per lb. for coarse crossbred and Id for line, but would take (lie best, part of this increase to make good the decline from the rates during the, first and second weeks of the series. The present outlook was optimistic, and it appeared as though the highest point of duly would be exceeded. Some, indication of the state of the wool market in England over the past

few months is indicated in the Bradford tups quotations. On duly 13 and 20. 46’s weie quoted at 12<1 per lb., declining to HJ,d on duly 27. this rate being maintained rigid up to the most recent advice on September 7. Also. 40's, which wore quoted at lid on duly 13 and 20, have been worth only lOfil since then. However, the market is described as firm, and indications are for higher quotations.