THE WOOL MARKET

Wanganui Chronicle, Volume 73, Issue 450, 16 December 1930, Page 6

THE WOOL MARKET

•yilE wool market seems to be content to maintain the features with which it opened in Auckland. The demand is willing, indeed there is an anxiousness displayed to secure supplies, but there is net enough of the competitive spirit to advance prices. The London reports arc also of a like nature. There is a demand “for legitimate and urgent requirements.” The wool is said Io be close up to the machines and there is no fear entertained that wool will go lower. Were the wool spinners in a position financially to buy they would doubtless lay in supplies of the staple, but the banks are unwilling to finance the holding of wool. How long this condition will prevail it is hard to foresee, but once the phalanx resisting the upward trend is broken a new price level would probably be established more favourable to the growers. Previous experience indicates, however, that a sharp drop is tollowed by an equally sharp rise. As the “Chronicle” has already remarked, all the stage is set for this rise to occur. -More than that cannot be said a the present'moment.