WOOL RECOVERY

Wanganui Chronicle, Volume 76, Issue 163, 13 July 1933, Page 8

WOOL RECOVERY

ENCOURAGING SIGNS. SYDNEY, July 6. With the close of the Brisbane sales last Thursday the curtain was wrung down on trio Australian wool season xor 1932-33. It was rung down too, m an atmosphere of confidence, anu after the Keenest competition valuer were left at the highest point 101 twelve mouths. An expert review suyo that the “hign spot” of the Liusuaao sales was ure extreme values paid ■ lor superfine wools, both greasy anu scoureu. But the eager competition, which lasted throughout the four days of the bale, embraced nil qualities and ' descriptions of wool except, the wasted and moat faulty fleece, mid it came < from all sections of the trade. Once again Japan displayed a predilection lor Queensland wools, and apart from the powerful French demand, provideu the dominant note in the saleroom. - No more iuuminating commentary could be made on the great change that has come over the face of the market ] during the past twelve niohths than by comparing the average price realiseu last week with the average in the corresponding week last year. Then the average was about Gid, whereas it is estimated that the average in Brisbane was between lid and J Ijd—roughly an all-round advance during the twelve months of more than 7u per cent. It is pointed out that this does not mean that all wools have advanced to that extent. In the case of the best fleece wools the advance has been considerably less, while, on the other hand, the advances in ordinary | and inferior sorts which a year ago ( were only saleable to ruinously “spoil- 1 mg’’ bids, is very, much higher. The final sales of the season were also held in Western Australia, al Perth, during last week, and there again the competition was exceptionally keen, and prices closed on a level with the advanced rates that were recorded in Brisbane. Those interested in the trade view the position with the utmost confidence and feel certain that there will be still greater com- i petition when the new selling season 1 opens in August. It is felt that the wool industry is at last coming back ; to its own, and that it will do more I than its share in winning back Aus- I tralia to her old-time prosperity.