WOOL MARKET

Wairarapa Daily Times, 18 January 1933, Page 4

WOOL MARKET

LONDON SALES. AD VANCE IN PRICE*. Messrs LeA'in and Co., Ltd., haA'e received the folloAving cable from London, dated 17th January: — The auctions opened here to-day Avith a large attendance of buyers. Competition was keen. Compared with thg closing rates of last sale, Ave quote:— Greasy Merino, best, -Id lb higher. Greasy Merino, aver., Ad lb higher. Fine A-breds, 50/56 ’s, Ad lb higher. Halfbreds, 43/50’s, -jd to Ad lb higher. g Fine Xbreds, 46/48 % |d to Ad higher. Medium Xbreds, 44/46’s, jd to Ad higher. Coarse Xbreds, 40/44’s, |d to Ad higher. Loav Xbreds, 36/40’s, Jd to Ad higher. ' # - Slipe avools, no change of any importance. Scoured Xbreds, Ad to fd lb higher. SYDNEY SALES. SATISFACTORY CLEARANCES. SYDNEY, Tuesday. At the Sydney wool sales to-day 10,240 bales Avere offered, of which 9636 were sold at auction and 346 disposed of priately. The market continued firm, and Avas unchanged at previous day’s rates. Comebacks crossbreds met Avith a brisk demand, and sold readily at recently improved leA r els. Satj.sfae.tory clearances Avere effected. Greasy merino sold to 16Ad. The Average price of wool sold last Aveek was £ll/1/7 per bale, or 5.59 per pound.

EXPERT’S OPINION. “HAVE REACHED 'BOTTOM.” AUCKLAND, Tuesday. One of the best known men in the Australian avool industry, Avith Avhieh lie has been identified for nearly fifty years, Mr George Jeffrey, arrived in Auckland to-day on his Avay Avith Mrs JeflSrey 'to visit his daughter in America, He AvaS chairman of the Technical Advisory Committee Avhieh fixed the basis of prices in connection Avith the Svool scheme during the Avar. At one time he aa'us superintendent in Australia for the firm of DaAvson and Company, prominent international avoolbrokers.

Although noAv retired from business, Mr Jeffrey still takes a keen interest in everything pertaining to wool and its marketing. Asked his opinion regarding the present position of the trade, he said it was difficult for anyone to say nowadays with any degree of certainty lioav matters stood, because of the unsettled .state of the world. “HoAve\ T er,” he continued, (“taking things by and large, I am of opinion that A\’e liaA'e reached bottom, and are noAV on a. fair Avay to reeoA'ery; not that I expect any boom in prices, but rather a steady or gradual rise. This has been confirmed by the recent sales market being firm, with an upward tendency. Mr Jeffrey does not belie\-e in the suggestion sometimes adA r aneed in favour of lessened production as a means of improving avool prices. He contends that there Avas not too much wool, and < all being groAvn was being (P.A.)