OUTLOOK FOR WOOL

Wanganui Chronicle, Volume 74, Issue 140, 16 June 1931, Page 7

OUTLOOK FOR WOOL

DEPRESSING REPORTS LOWER PRICES OFFERED ’ LONDON, June 14. Mr Devereux reports that advices from manufacturing centres continue very discouraging. In Yorkshire the market, is quiet. Topmakers arc receiving more bids for merino tops than recently, but on a reduced basis, and as most sellers are disinclined to reduce prices still further little business results. There is very little business in crossbred tops, prices being in buyers' favour. For yarns there is practically no business in merino counts. Crossbred yarns, however, continue in sellers’ favour. In the North of France the textile strike continues and business is at. a standstill. It was annoifnccd that mills would shortly reopen to give eni pioyees an opportunity of returning to work at reduced rates. The financial, political and econo mi j conditions in Germany are curtail i:ig eperations in raw and semi-manu-factured wools, also the sale of manufactored goods. A policy of strictly hand-to-mouth ouying is being pursued by all sections. The futures markets show a downwa.’J tendency.