WOOL MARKET

Wairarapa Daily Times, 13 June 1933, Page 5

WOOL MARKET

LONDON PRICES. A HARDENING TENDENCY. LONDON, Monday. Mr W. P. Devereux, resident representative of the Australian Wool-grow-ers’ Association, reports that prices in all wool centres are firmly maintained, and that with a hardening tendency. The official statement that the Gherman moratorium would not interfere with financing foreign trade and current- business appears likely to remove some of the anxiety that was beginning to be felt with regard to it. ; Vi - - Merino tops were very firm at‘ lastweek's higher prices, and Bradford reports that users are reluctant to pay the advance.

Topmakers are adopting a strong protective attitude, especially in view of the latest Australian, reports. Crossbred tops continue to be stimulated by the advance in Merinos, and rather more business is being done in the medium sorts at higher prices; The. majority (if spinners .are well employed on the finer counts, Merino yarn prices are very firm, with a tendency against the buyer. ,_ , ~t Expanding interest is displayed in crossbred yarns, and higher prices are now asked for these. The recent improvement in. France is being maintained. Bales of tops to Germany are well maintained and are in good volume: also prices have improved, especially for Merinos. . The Continental futures market is firm, with an upward tendency. SYDNEY SALES. A SHARP ADVANCE. v SYDNEY, Monday. The wool sales were resumed to-dav under very strong general competition. The market, compared with the closing sales early in March, was 15 to -20 per cent higher, and occasionally more. _ The greatest appreciation was noticeable on good spinning wools, which enjoyed a keen demand on American account. Greasy Merino made 16Jd. •,>. The offerings totalled 11,730 bales, of which 10,471 were sold at auction; also 741i6 were sold privately.