WOOL PRICES STILL RISING

Taranaki Daily News, 11 July 1933, Page 9

WOOL PRICES STILL RISING

LESS FEAR OF INFLATION EUROPEAN MARKETS VERY ACTIVE BETTER. DEMAND FOR CROSSBRED. IMPROVEMENT IN EMPLOYMENT. By Telegraph—Press Assn.—Copyright London, July 9. Mr. W. P. Devereaux, Australian Wool Growers’ Council representative, reports: “The postponement of the stabilisation of currencies and the fear of inflation in European countries appears to have stimulated competition in wool. “Since the opening prices Merinos in London have further hardened. Fine crossbreds have also benefited, but medium and low sorts are slightly irregular. Competition is very keen, British buyers , predominating, closely followed by Germany. There are very few withdrawals and quotations in industrial centres have all risen in sympathy with London. The demand for crossbred tops is increasing, especially that for medium qualities, and prices are hardening. Yam prices have moved against buyers, but spinners cannot obtain a full advance. Machinery activity is well maintained. The gradual improvement in the French industry continues and there is less unemployment. Prices have moved up in sympathy with the raw material. Sales of tops in . Germany are well maintained, especially Merinos, at improved prices. A substantial decrease of stocks of tops is anticipated. The Continental futures markets is active and quotations advanced. WARNING GIVEN GROWERS HIGHER PRICES EXPECTED. ADVICE OF AN AUSTRALIAN. Rec. 10 p.m. Sydney, July 10. Mr. A. Trethowan, a leading authority on pastoral matters, has warned woolgrowers not to sign agreements with speculators who are touring the country until they saw how the market was going in August, when the new series of sales will begin. He was of the opinion that the opening sales would be at least 50 per .cent.-ahead of those of the previous year. Mr. Trethowan added that the improvement in meat prices was most encouraging. The value of mutton in England; had doubled inCthree months.. As a result fat stock Selling at only 8s and 9s a few months ago were now worth 20s to 28s.