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WOOL PRICES CLIMB TO HIGHER LEVELS The stimulation of devaluation carried prices to higher levels at the Perth wool sales which opened yesterday. Dollar buying assisted in the excellent clearances achieved.
Compared with the last sale at this centre three weeks ago, best Merino fleece was 5 per cent higher, with good to aver age Merino fleece 5 to 10 per cent better. Shabby, dusty and inferior Merino fleece was 10 per cent dearer and Merino skirtings 5 to 10 per cent dearer. Comebacks and cross breds were 10 per cent up. Lambs and locks appreciated from 10 to 15 per cent. All sections of the trade were represented and under keen and widespread competition excellent clearances were made. America, Canada and Japan were the prin cipal operators, with strong sup port from Britain and the Contin ent. Local mills operated on types suitable for their requirements. The top price of the day for greasy wool was 89d.. which was obtained for 15 bales of AAA combings sold for the Boolardy Pastoral Co., Yalgoo. C. H. Wit tenoom and Co., Muralgarra sta tion, Yalgoo, secured 88d. for four bales of triple A combings, and 871d. was paid for nine bales from L. D. Mitchell and Sons, Mullewa, and ten bales from Mews and Wimbridge, Hillview, Nannine. Nine bales from Darlot Brothers. Byro station, Mullewa, fetched 864d. and four bales from McKenna Brothers, Yalgoo, sold for 861d. For four bales from P. M. Morrissey, Cue, 85d. was ob tained. The highest price for scoureds was 1073d., this being realised for eight bales from Cook Brothers. Noondoonia, Norseman. STANDARD OF OFFERING. The sales will be resumed this morning and over the two days 31,657 bales will be submitted. The majority of the catalogues has been drawn from the agricul tural areas and the Great South ern districts, but nearly all the pastoral areas are also repre sented. Most of the pastoral wools are from the Murchison. Agricultural consignments are rather better than those offered at earlier sales but a number still show the effects of the adverse seasonal conditions under which they were grown. Clips from the Great Southern display more body and style than those which ap peared at the last two sales. Mur chison wools have again made an attractive showing. Some carry a little vegetable fault but the majority are freely grown, sound, dense and of fine quality. Gas coyne brands reflect the excellent season, being well-grown, sound and fine, and carry plenty of bulk. Tableland and Peak Hill lots are fine in quality, soft to handle and are sound and free. While in good condition, they carry a fair amount of red dust in the tip. Port Hedland wools are of med ium quality and, although fairly well grown, carry a little canary stain. Russian Buying In Melbourne MELBOURNE, Oct. 24: Prices closed fully firm on last week's rates at the final day of the third series of the Melbourne wool sales today. Movements were barely quotable, but any changes were slightly in favour of sellers. Top price was 101}d. for four bales of AAA combing Merino lots marked DB/A. from Ararat.
A total clearance was made. Competition was strong and wide spread. Russian interests again dominated the market. Local mills, Great Britain, the Contin ent and Japan provided good sup port. Sydney Values Advance SYDNEY, Oct. 24: Top values at the Sydney wool sales today advanced a little on the best sell ing rates of last week. The day's top price was 963d. for greasy
Merino fleece. The United King dom and the Continent provided a good strong general buying de mand. Supply And Demand CHICAGO, Oct. 24: A more effective part in determining prices of fine wools next year will be played by the ratio between supply and demand rather than the re cent devaluation of world curren cies in relation to the dollar, the chairman of the executive com mittee of the Wool Board (Mr. Eugene Ackerman) said today. He emphasised that the con sumption of fine wools, of which ibhe United States is the largest single user, is at present running considerably above production. Stockpiles of wool held by the Joint Organisation of the United Kingdom and British Common wealth and by the Commodity Credit Corporation here were rapidly being depleted, he said, and the fine wools which they contained had practically gone. South Africa Preferred Stocks of wool held in Europe at present were not heavy, said M. Victor Vivequin, a French woolbuyer, who arrived at Fre mantle yesterday in the Sebasti ano Caboto. European firms could not buy as much wool as they wished because of currency prob lems and because of the difficulty in exporting the manufactured product, he added. Because of strikes on the water front in the Eastern States and the resultant difficulty in securing delivery of their purchases. M. Vivequin said, European firms preferred to buy wool of similar quality and price from South Africa in preference to Austra lia.