PRICES IMPROVING

Wanganui Chronicle, Volume 74, Issue 229, 28 September 1931, Page 9

PRICES IMPROVING

LONDON WOOL SALES STRONG MARKET REPORTED Received Sept. 27, 5.15 p.m. LONDON, Sept. 26. At the wool sales 10,161 bales were offered, including 31G8 from New Zealand. About 4780 were sold. There was a strong market with an active Home and Continental demand. Compar 4 with the July series scoured Merinos were unchanged, greasy Merino and fine crossbreds from par to five per ce(ft. up, medium coarse crossbreds unchanged, slipes, fine, 5 to 10 per cent, up, lower grades 5 per cent. HPNew Zealand slipes, Hid and 7jd.. AMERICAN CONSUMPTION A 20 PER CENT. INCREASE Received Sept. 27, 5,25 p.m. WASHINGTON, Sept. 26. The Department of Agriculture’s report indicates that the recent wool consumption of the United States has increased remarkably. The consumption of combing and clothing wool in July was the greatest for any month since May, 1923. The high rate was maintained through August, and for the first seven months of. 1931 the consumption was 20 per cent, above the previous similar period. The wool consumed has been largely domestic, due to the low prices and small imports. Messrs Murray, Roberts and Co., Ltd. are in receipt of the folowing wool market cablegram, dated 25th inst., from their London agents: — “Market very strong. Keen competition with Yorkshire and German buyers. Compared with present London sale’s opening rates greasy Merino advanced 15 to 20 per cent. Wool suitable for Continent shows greatest advance. Scoured Merino, best descriptions, advanced 15 to 20 per cent.; scoured Merino, other descriptions, advanced 5 to 10 per cent.; crossbred greasy, fine, advanced 15 to 20 per cent.; crossbred greasy, medium, advanced 20 per cent.; crossbred greasy, coarse, advanced 20 per cent.; slipe crosbred, advanced 20 per cent.; crossbred scoured, advanced 10 to 15 per cent.” Wright Stephenson and Co. Ltd., have received the following cable from their London office: ”Quotations 3d up for Merinos. Quotations Id to lid up for crossbreds. A good deal more business passing. A fair amount of business passing in yarns.”