WOOL PRICES FIRM

Southland Times, Issue 22052, 27 June 1933, Page 5

WOOL PRICES FIRM

HARDENING TENDENCY DEMAND EXCEEDING THE SUPPLY YORKSHIRE TRADE ACTIVE (United Press Assn. —Telegraph Copyright.) London, June 25.

Mr W. P. Devereux, the representative of the Australian Woolgrowers’ Council, reports that further depreciation of the dollar in the United States and opposition to immediate stabilization may strengthen the American purchasing of raw materials. Although most markets are subject to prompt reaction, the wool markets everywhere are very firm and show a hardening tendency, due to the demand exceeding the supply. The Yorkshire trade is active and improving, and unemployment has been reduced. Merino top quotations have advanced and are hardening, and topmakers are not keen sellers. The output is being well absorbed. Crossbred tops arc firmer with more business. The Merino yarn position is sound with business in the seller’s favour. Crossbred yams are a shade firmer with more and more business.

The French tops markets are firm, and the improvement in the industry continues. German sales of tops are again up to normal proportions at increased prices. The home trade' is active, but export is dull. Continental futures are firm with a gradual improvement in quotations.