THE WOOL INDUSTRY.

Waikato Times, Volume 112, Issue 18795, 17 November 1932, Page 3

THE WOOL INDUSTRY.

POSITION REVIEWED. A BETTER ATMOSPHERE. (Empire Press Union.) I MELBOURNE, Nov. ii. , The Australian Mercantile Land and Finance Co., Ltd., Melbourne, In a review of the wool position Issued October 12, says that already more wo'ol has ohanged hands than at this time last season. Given an uninterrupted selling .programme to Christmas at the present -bale average, approximately £15,000,000 will have been realised before the New Year. A commencement of sales was made in a noticeably better salesroom atmosphere than that of the beginning of the sales of the last clip; prices aggregated slightly higher, too, even allowi ing for the difference in exchange and England’s change-over from gold to sterling In the Interval. Since opening sales, prices have receded a little, good combing merino fleeoes being mostly affected; least concerned are skirtings of all grades, for which a strong demand persists on Continental aocount, France leading. At this Junoture the change of the (market should not he oonstrued ■as suggesting that the underlying position Is any less sound than at earner sales; minor fluctuations must be expected. Japan has shown vigour in Its partiality for all good lots of oome- ( ■back and fine crossbred fleece. While* . this nation strains at the check rein of credit limitations, 'like others, nevertheless It has led in the competitive pace for suitable wools. Japan’s persistent buying in face of adverse ex- ! change has been one of the prominent i features of sales so far.