DECLINE IN WOOL PRICES

Taranaki Daily News, 10 September 1934, Page 5

DECLINE IN WOOL PRICES

CONTINENTAL INQUIRY LESS.

SYDNEY SALE AVERAGE -<od PER LB. By Telegraph—Press Assn.—Copyright Sydney, Sept 8. The weekly wool letter in" the Sydney Morning Herald says: The opening Sydney auctions produced mixed feelings, owing to a decline of 20 per cent in good wools, 20 to 25 per cent, in average to inferior, and 30 per cent, in very faulty. Satisfaction, however, was expressed that the decline was not greater considering that the Continental inquiry was so restricted, although it exhibited better strength towards the end of the week. Japan, although it usually adopts a wait-and-see policy, is the most consistent buying force this year, and from January to May last the Japanese imports were 1154 million pounds of wool. Yorkshire was also a bulky buyer, taking well-grown wools freely, but the combined European demand was not so strong here as at the Brisbane sales. The week’s offerings totalled 33,291 bales, of which 75 per cent, were sold at auction, whi|e withdrawals consisted chiefly of very faulty wools. The weeks’ sales averaged approximately lOd per pound, compared with 12.7 d per pound at the same stage last season and 14d secured for the whole of September, 1933.

On a clean scoured basis on the floor of Sydney stores 64/70’s spinners’ fleece realised 27d; 64’s spinners’ fleece 25d; 64/70’s average topmaking fleece 22d to 23d; 64’s average topmaking 22d; good pieces 19d; good bellies. 18d. At the opening of the Adelaide wool sales yesterday values were estimated at on a par with those ruling in the eastern States, but there was a decline of at least 4d a pound on all fleece wools compared with the closing rates last September, and even more on lambs wool and oddments. Bradford, Japan, and Australian mills were the chief operators.