WOOL SURPLUS IN LONDON
ABNORMAL AUSTRALIAN EXPORT.
By Telegraph—Press Assn.—Copyright. 'London, January 27.
It is officially announced the present ’series of London wool sales will close on February 5 instead of February 11. The Financial News says it is clear the supply at present in London is in excess of immediate requirements. Wool lias been sent from Australia in recent months by concerns not normally operating in this commodity mainly for the purpose of obtaining sterling. It estimated upwards of 50,000 bales has been sent to London in excess of the normal. This- must depress prices here. At the sales to-day 8816 bales were offered, including .2135 New Zealand. Approximately 7930 were sold. There were good offerings of greasy \ Merinos, but no scoured Merinos. There was a better supply of New Zealand sorts. There was a strong market at full opening rates. New Zealand greasy crossbred clips sold as follow; Waikohu, 6Jd top price, 6d average; Otihiwiti, s|d and 5Jd; Waihu, 7id and 6fd.
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Taranaki Daily News, 29 January 1931, Page 7
Word Count
164WOOL SURPLUS IN LONDON Taranaki Daily News, 29 January 1931, Page 7
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