AMERICAN WOOL TRADE.

Auckland Star, Volume LIV, Issue 300, 17 December 1923, Page 10

AMERICAN WOOL TRADE.

AUSTRALASIAN IMPORTS, ARRIVING FROM BRADFORD. (From Our Own Correspondent.) SAN FRANCISCO, November 1. A more healthy state of affairs in the wool market of the United States is indicated by a noticeable reaction in I prices of certain descriptions, particularly the lower qualities, and the tendency to close the abnormal gap between tbe prices for fine and low grades, whici has persisted so long. This tendency will probably be delayed by the scarcity of tine wools, on one hand, and the surplus of Baivra crossbreds, on the other. In spite of the continued congestion in the goods markets, consumption continues 'heavy, at the annual rate i* approximately 600,000,000 pounds. The manufactured goods situation is apparently easing, inasmuch as several of the larger manufacturers have recently purchased wools ordinarily used in quantity far beyond their immediate needs.. Further, the foreign markets continue to Ishow strength, with the secondary marIkets of Europe and the primary markets lot Australia and New Zealand, all of which have a decided effect upon the Boston market. In the Jace of relatively high prices abroad, the American merchant is confronted with the question of replacing wools which he may sell on current values in the United States. In the course of latest available statistics, issued by the Bureau of Agricultural Economics, U. S. Department of Agriculture, it is noticed that several consignments of Australian and New Zealand wool are arriving on the East Coast every week from Bradford. One day there arrived from Bradford through the Boston Customs House a consignment of 173 bales of New Zealand combing wool in the greasy state, valued' at 23,461d0L In the succeeding week there arrived at the Port of Boston, the following: Greasy combing, from Australia, 27 bales, weighing S3-59 pounds; 29' bales, weighing 132,924 p unds, New Zealand combing, greasy state; combing, scoured, from Australia 190 bales; combing, scoured, 10 carding, greasy pulled, 18 bales, from New Zealand; carding, scoured from Australia, 265 bales, dean weight, 45,307 pounds; merino, scoured carding, from Australia, 36 bales, clean weight, 8950 pounds; clothing, scoured, 105 bales from. Australia, weighing 23,674 pounds. Exporting Foreign Wool. Another large cargo of New Zealand wool from Bradford passed through the Boston Customs House on October 13, when 233 bale 3of combing, greasy, weighing in the grease 118,702 pounds, arrived, but aside from these stocks of Australasian wools arriving from England there has been considerable comment among the trade in America in all its branches through the export of foreign wool hitherto 'held in bond at Boston. This has been the outstanding feature of the local market during the past several weeks. In one w*eek in September the exports of foreign wool showed a total in round numbers of, 1,500,000 pounds, and late in October another week registered an exportation, of 1,900,000 pounds of foreign raw wool. The stocks of Australian wool on the Boston market are reported to be exceedingly low, and prices are steady. Regarding domestic wool business, the ' market is slightly firmer, and some houses state that buyers have met a .Vittle higher prices in some instances. iJuyers from the woollen mills are in t'hu market for three-eighths, quarter blood, and low wools of both fleece and territory grades. Within the past few days a fair volume of Utah wool has been moved, much of the finer grades being taken by the mills. The demand for low grade wools continues. Half-blood wools have shown a slight advance, and a considerable volume has been taken out of the market recently at arournl 48 cents, estimated to shrink about 59 per cent, which should mean 1.15 dollars to 1.20 dollars clean basis. However, most houses are holding good-quality halfbloods for 1.20 dollars to 1.25 dollars. The. stocks of wool on the market seem to be held in strong hands. Prices of foreign wools inclule: Australian, scoured basis, in bond, 64-70's, super warp, 1.16 dollars to 1.20 dollars; 64's, combing, 1.14 dollars to 1.18 dollars; 60-64's, combing, 1.05 dollars to 1.10 dollars; 60's, combing, 1.00 dollar to 1.05 dollars; SS-60's, combing, 90 cents to 98 cents; 56's, combing, 72 cents to 78 cents. Xew Zealand, scoured basis, in bond, 58's, super, 75 cents to 78 cents; 56's, super, 70 cents to 75 cents; 50'=, super, 45 cents to 40 cents; 48's, super, 42 cents to 46 cents ; 46's, super, 33 cents to 42 cents; 44's, super, 34 cents to 33 cents: 40's, super, 32 cents to 34 cents. American fleece wools include: Fine strictly combing, 53 cents to 54 cents; fine French combing, 50 cents to 52 cents: fine clothing, 47 cents to 48 cents; half-blood strictly combing, 53 cents to 54 cents; half-blood French combing, 49 cents to 50 cents; half-blood clothing, 48 cents to 49 cents.