WOOL POSITION DIFFICULT

Taranaki Daily News, 22 September 1931, Page 16

WOOL POSITION DIFFICULT

EFFECT OF POLITICAL CRISIS. EUROPEAN MARKET REVIEWED. By Telegraph—Press Assn.—Copyright. London, Sept. 20. The Australian Wool Council’s representative, Mr. Devereaux, reports that the general position continues to be difficult, and although there has been considerable talk of a radical change in Britain’s fiscal policy the appearances point to no change until after the election. The London sales opened substantially below the July rates, but with early good competition from the home trade and limited competition from the Continent British buying has to some extent been stimulated by discussions regarding a tariff. Reports from Bradford indicate a more cheerful tone, the fall in prices having been largely discounted last week. It stated that the present prices for tops are still below parity wool values at London. Most of the topmakers are firm on last week’s quotations in yarns, but very little new business is offering. Conditions in Germany are exceedingly difficult. With regard to France, although few transactions in tops are noted, generally speaking the market is weak in yarns, but there is comparatively more activity in Belgium. * Prices for raw wools are weak and transactions are limited. The futures market in Antwerp and Roubaix showed a temporary improvement immediately after the opening sales at London, but the advance ■ has since been lost.