OCR Text |
Show Wool Conditions Show Little Change The domestic wool situation has not changed materially In the last month, the Bureau of Agricultural Economics rcMrk.'d today. Trading In the domestic market was light in August but prices remained firm. Since stocks of wool in the United States and foreign countries are still below average and prices in foreign markets have weakened only slightly, slight-ly, It seems probable that domestic wool prices will not change much during the remainder of 1937, according ac-cording to the Biu-eau. Consumption of apparel wool by United States mills declined further In July but total mill consumption for the first seven months of this year was H percent larger than in tho same period of 193G and was the largest for the period since 1923. Although a seasonal increase in consumption con-sumption is expected to occur in the next few months, mill consumption In the remainder of 1937 Ls not likely, to be so large as in the same months of 1936, the Bureau said. World supplies of wool in 1937-38 are likely to be about the same as in 193G-37, when they were below average. There has been some tendency tend-ency for the mill consumption of wool in several foreign countries to decline in recent months but the level of such consumption is still relatively high. The new wool selling season in the southern hemisphere opened at Sydney, Syd-ney, Australia on August 30. Prices at the opening were slightly higher than at the close of the previous season in June and were 20 to 25 percent above the opening prices of the 1936-37 season. Some weakness, however, was reported in Australian prices as sales progressed. |