THE WOOL TRADE

Poverty Bay Herald, Volume LXIII, Issue 18920, 23 January 1936, Page 8

THE WOOL TRADE

IMPROVED VALUES AUSTR ALT AN TURNOVER SYDNEY. Jan. 13. The sustained demand experienced at this week's Sydney wool sales gives en couragement to the belief that favorable selling conditions will be experienced during the balance of Ihe current season. Prices at opening sales were par to 5 per cent above the figures ruling at closing December auctions. Thev showed a further upward trend on subsequent sale days, being 5 to 7-£ per cent higher than at the final December sales. Solidity is given to the. outlook because the market has not shown any tendency to make meteoric advances. Consumption of the staple abroad, combined with the supply position, provides a good foundation lor existing prices, but no development has. occurred overseas which justifies the ideaTlhat values for any raw material could be maintained if they advanced to a very high basis. At the level of values ruling since September the general volume of turnover at the world's mills has expanded fiut all countries have not participated. European consumption is not normal. The most decided increase, in manufacturing activity has been in. Great Britain. Japan, and the United States, If Continental improvement were equally favorable some, justification for the anticipation of a further marked rise in wool prices would exist, but in present circumstances sharp advances would hold considerable risk of curtailing mill turn-

Japanese competition showed no sign of easing, being the most prominent force on topmaking sorts. Yorkshire orders were plentiful for spinners' types, accounting for the"-bulk of the highest prices. French demand was noticeably active, and good bidding was experienced from German buyers. Australian millnien bought freely, and American purchasing was an increased influence on good-class fleece wools. Belgium operated, and Italian buyers also competed.