OUTLOOK FOR WOOL

Waikato Times, Volume 105, Issue 17751, 1 July 1929, Page 7

OUTLOOK FOR WOOL

THE BRADFORD MARKET. HAND-TO-MOUTH BUSINESS. WAITING FOR A LEAD. i RMCfr.->Un n Pr..*,* \^cofß'lnn.) (Received July 1, 9.30 a.m.) LONDON, June 30. A Bradford correspondent writes: The wool trade is simply marking time, waiting for something to turn up. The sales in Australia are hardly a sufficient guide to the state of the raw material market. It is to London and the auction sales to open on July 9 that traders are loking for a lead. It seems certain that the verdict then given will determine the policy to he pursued during the next two months. Probably few traders expect anything spectacular to mature at the next series, but it. is felt that if the sales went with a swing and prices showed even a slight hardening tendency, it would bring out business that was being held up simply on account of lack of confidence. This uncertainty is everywhere apparent at the present time, and is quite as pronounced in Continental consuming centres as in the West Riding. Hand-to-mouth business is the order of the day in all sections of the industry and in the circumstances it is very difficult to find a real market price for tops anti yarns. Some of the larger firms are resolutely standing out against accepting lower prices for fine lops, but the weak seller is still to he found and spinners know where concessions can he obiained. The market, therefore, remains weak and irregular and much in need of a fillip to set the demand running again in more normal volume.