The Wool Market

Waipukurau Press, Volume XXIV, Issue 128, 3 November 1930, Page 5

The Wool Market

CHEERFUL TONE DISPLAYED

DOMINION BUTTER DEPRESSED

By Telegraph—Copyright—Press Assn. . LONDON, Nov. 2.

The butter position shows no improvement. Prices for colonial have again fallen back and the demand is very poor. A striking feature of the market is the contrast between Danish and colonial, for though the former has weakened this week it is still almost 40s per cwt. above Australian and New Zealand.

This is mainly due to targe purchases by Germany in anticipation of a higher duty shortly to be imposed there. It is also reported that some Australian, New Zealand and Argentine has been purchased by Germany for the same reason. Meanwhile Australian and New Zealand butter is being offered by retailers at 14d and 15d per lb. without having any appreciable effect on

consumption. The wool trade is displaying a more cheerful tone and according to a Bradford correspondent although it is not possible to discover evidence of any great accession of business colonial tops are satisfactory. It is known upon reliable authority that the improvement in botany spinning now accounts for some mills running full time and that consequently there are increased reqvfirements. As a result Merino tops on contract are being taken up in appreciably larger quantities than recently. The botany department of the trade has apparently been getting into much better trim and any other development would indeed be remarkable considering the level of values ruling for the superior article.