CONFIDENCE REGAINED

Taranaki Daily News, 6 October 1934, Page 7

CONFIDENCE REGAINED

WOOL SALE ENCOURAGING HOPE FOR COMING SEASON AMPLE SUPPLY AT VALUES BETTER TONE WORLD OVER By Telegraph—Press Assn—Copyright. London, Oct. 5. A surprising feature of the wool sales is thgt several German houses shared the buying, says the commentary of Dawson and Sons. The only explanation seems to be that Germany’s need for wool is so apparent that it encourages speculative operators because of the early possibility of the door being more widely opened. The new tone in the past 10 days indicates regained confidence. The industry can justifiably be encouraged by the prospects of the coming season. In fact, there is ample supply available, values are low and money is cheap. On another buoyant market wool prices showed a further strong advance, says a Melbourne cable. Prices for most Merino fleece, comebacks, fine crossbreds and all skirtings rose fully 5 per cent., and all other descriptions, including lambs, were firm at late rates. There was exceptional buying support from Japan and France.- The highest price of the day was 15jd a lb for Merino. The sales adjourned until next Monday. The Brisbane wool sales concluded with competition keen, Japan giving verystrong support. The slight improvement in price was maintained, and the sales closed with values generally 5 per cent, higher than at the opening. There is every indication that the South African wool market has taken a turn for the better and that the recent improved limits are not merely spasmodic, says a Capetown message. It is evident that, there are more than sufficient orders to absorb offerings.