STRENGTH MAINTAINED

Poverty Bay Herald, Volume LX, Issue 18253, 23 November 1933, Page 7

STRENGTH MAINTAINED

■• ■ - LONDON WOOL PRICES ACTIVITY IN YORKSHIRE ALL SUPPLIES ABSORBED (Elec. Tel. Copyright—United Press Assn.) (Received Nov. 23, noon) LONDON, Nov. 22. The Yorkshire Observer says the consumption of merinos in the West Riding is terrific, being the leading factor in the abnormal absorption of the Australian and South African clips. Bradford leads the present upward movement, which German buyers have strengthened. New season’s South African wools are arriving slowly. It is too early to estimate the clip, but, in conjunction .with Australia, the trade anticipates, a decline of 700,000 bales. Recent wool production has been absorbed in a remarkable fashion. The higher merino prices will rapidly clear the New Zealand surplus. At to-day’s London sales, 9054 hales were offered, including 3194 from New Zealand, and approximately 8833 bales were sold. There was a good selection of both merinos and crossbreds. ; ■

Home and Continental competition was well maintained, and the bulk of the offerings sold at full opening rates. New Zealand prices included: Greasy Imlfhred, Arden, top, 17-'d, average, 16 I d ’ The strength of the sales slightly exceeded the most favorable anticipations. Germany fully supported Yorkshire’s lead, but France And Belgium, were less active. There were indications that the strength will be maintained, though tile American situation causes some uncertainty. - v VERY STRONG MARKET THE MELBOURNE SALES (Received Nov. 23. noon.) . MELBOURNE, Nov. 23. At the wool sales, a very strong market was again experienced, and prices remained firm at the best levels of the week. Merino realised up to. 24£d and comeback wool to 26|d. VALUES VERY FIRM SALES IN SYDNEY SYDNEY, Nov. 22. At the wool sales, 13,325 bales wore offered, of which 12,983 were, sold; 380 hales were disposed of privately. There was keen geheral competition, and values were very firm. A feature was the strong demand for 'best classes of skirtings. Greasy merino made to 30d for 14 bales from Barraba. ’