WOOL MARKET

Wairarapa Daily Times, 6 March 1934, Page 6

WOOL MARKET

SYDNEY SALES, SYDNEY, Monday. _ The “Sydney Morning Herald’s” wool letter says that the closing of the local sales next week is the earliest for years. It is due to the good market, enabling rapid selling. The past week’s market values have shown little quotable change. At the same time the market displayed no particular buoyancy, except for choicer fine wools, which arc tending upward. The market for bulk Merino crossbred lots is stationary, and crossbreds are barely holding their position. Medium to fine and small clips more or less unclassed brought good averages, though bidding was irregular. The grower who secured 18d to 19d for such lots obtained an acceptable average allround price, but if such lack of preparation for the market were general the trade would suffer and buying would become difficult. YESTERDAY’S AUCTIONS. SYDNEY, Monday. At the wool sales to-day, 14,536 bales were offered, 11,137 being sold at auction and 1639 privdtely. Strong and very general competition, with additional support from Yorkshire, kept rates fully equal to those of last week for all descriptions. Greasy Merino made 261 d for eight bales from Yass. The average price of the wool sold at Sydney last week was £2O 17s 3d a bale, or 17.4 d a lb. Average prices obtained at the Sydney wool sales so far this season are as

POSITION OF CROSSBREDS. LONDON, Monday. The British and Continental representative of Australian Avool-groAvers (Mr W. P. Dcvereux) reports that most of the European avool markets have shown a continued easier tendency, Avith a restricted demand for both tops and rarv material, but it is recognised that, for fine avool especially, the position for some months in regard to supplies is quite sound. There is a tendency to aAvait- the opening of the London sales before entering into fresh commitments. The small quantity available should be readily absorbed, and a firm operating demand Avould givrn a desirable lead to the industry.

There is some business in medium prepared crossbreds, but prices are unchanged. Crossbred yarns are slightlyeasier, the textile Avorkers’ strike in Belgium and a threatened strike in France restricting transactions. The Continental futures markets arc quiet.

under:- — Week ended, Per bale. Per lb. 1933. £ s d cl 2nd September . 1G 19 6 12.7 9th September . 19 5 0 14.5 23rd September ... . 18 11 9 14.1 30th Septcmbejr ... . 17 3 6 13.0 7tli October . 1G 3 12.3 14th October . 16 10 „ 7 12.7 4th November . 18 6 0 14.0 11th November ... , 19 3 11 14.9 18th November ... .■ 20 11 11 16.1 25tli November ... . 20 3 10 15.9 9th December . 19 19 4 16.0 16th December . 20 17 7 16.7 1934. ■ Gth January . 23 17 6 19.3 13th January . 25 14 3 21.1 20th January . 25 12 5 20.7 27th January 24 15 7 20.5 10th February . 23 11 0 19.4 17th February . 23 S 1 • 19.4 24th February 22 16 . 9 18.9