AMERICAN WOOL TRADE.

Auckland Star, Volume LV, Issue 114, 15 May 1924, Page 7

AMERICAN WOOL TRADE.

COMPETITIVE BIDDING

ABROAD.

ESTIMATE OP PRODUCTION.

(From Our Special Correspondent * SAN FRANCISCO, March 20. According to the United States Department of Commerce the amount of wool entering into manufacture during January in America was slightly in excess of that which was' manufactured in the United States during December, but while the January mill consumption was placed at 46,197,9691b, this compares with a consumption of 54,956,1601b during January of 1923. The situation as regards the manufacture of wool is somewhat similar to the mill consumption of cotton. The spinning of the product during the current season is smaller in the aggregate than it was during last year.

The price of raw cotton has been constantly advancing during the past season, due, it is said, to the competitive bidding at the auctions on the part of the mills of other countries. Upon the basis of the price of the raw product the cost of the finished textiles has been going up so rapidly that the retail trade in the United States at least has become hesitant about stocking up. This slowness in the movement of the cloth has manifested itself in the spring openings staged by the important American manufacturers, and has its further reflection in the tendency on the part of these manufacturers to reduce their asking prices. It is evident that the necessity of reducing living costs hae taught America's woollen customers a new sense of economy in the purchase and use of textiles, according to a statement in the New York "Journal of Commerce," which adds: "This tendency has forced a conservatism up our mills resulting in a reduction of spinning operations."

The American market f»r wool is not unhealthy, although without any startling developments in the Eastern seaboard markets recently. There has been some buying of wool, however, and one large consumer has bought a line of several hundred thousand pounds of fine and fine-medium wool at around 1.35 dollars, clean basis.

Evidently there is some strength in the market, although it may be more or less under the surface. There is a constant demand for wool and wool products in Europe, in spite of the disturbed nnancial and economic conditions prevailing in the European markets, and there is no evidence of any casing in prices at the moment, at least, American wool experts declare.

The contracting of wool on the sheep's back in the West has spread considerably of late in noticeable fashion. A start lias been made in Wyoming, Idaho, Nevada, and the Triangle section, with rumours of some contracting in Utah, and also in Texas. For the wool thus far taken prices average 40 cents to 42 cents, both for medium and fine wools.

World's Wool Production. "Die United States Department of Commerce lias compiled an interesting survey of the world production of wool charted in two tables, the first containing the commercially important producing countries, because it is possible to obtain from those countries fairly accurate figures baaed on actual production surveys, sheep censuses, or other statistics, such as estimates made by local governments; the second contains those countries in which nothing in the way of statistics is available except unofficial local estimates, which have 'been obtained from the most reliable factors in the various countries. The gum of these two indicates thj: total world production during the years noted.

! The grand total of 2.604,011.0001b in 1023 is about 66,000,0001b smaller than 1022, and "appears to be principally' attributable to the reduction in the Aus- i ] tralian clip, which, although only trade estimates are available in that country as yet, is placed at 130.000.0001b less than that of 1922," says the U.S. Government survey. In the table covering the annual wool production of North America, the United States, from the years lono to 1913, produced 314.000,0001b of wool, and in 1922 the total was 264.560,000. a figure which rose to 266,110,0001b in 1923. In the four-year-period Canada pro- ' duced 11.210.0001b of wool, but in the! yea/ 1822 the figures went up to : 18,523,0001b, but in 1923 the statistics just published show that a falling-off was noticeable in the Dominion, the wool , production of last year reaching but I 15.339.0001b. The only other North j American country mentioned was Mexico, the wool production last year there being practically negligible, to but 750,0001b. In the South American countries. Argentina headed the list j easily with 358.689.0001b in the four- j year period, and last year the figures ■ were 270.000.0001b. as compared with ; 2f)5.0n0.0001b in 1022. Uruguay came j second with 06.300,0001b of wool "in 1923. j In the European countries the total ' was Slft.Sflo.nOOlb ; n 1022. while last year ! accounted for 54fi.124.0001b. In this total ! the United Kingdom easily occupied premier position with 103.217.0001b in .1922, ! the annual produof ion in 1923 falling : Klig-htly to 102.300.0001b. Strangely I enough. Rnnin ranked second with RR.OOO.OOOIh both in 1922 and also last venr. In the continent of Africa, John Bull was asrain to the forefront. British South Africa dominating the situation with IS.TOOO.OOmh both 'ast year and 1 the preceding twelve months. Australasia's Record. The Department of Commerce of i Washington concluded its official table of i principal wool-producing countries with i thp Riib-hearling of Australasia, find the statistic given were 705.146.0001b of i wool in the years 1909 to 1913. while the reenrd for II?" stood at C>10.323.0001r>, and the big fa.llin<r-oflr nlreivly mentioned wnq Rhowji in the fimiros for last rear, which read at 490.000.0001b of wool for 1923. ■ New Zenianr] was accredited with ]95.474,000!1> of wool in the four-year period under review, but in 1952 the fitrure? wnre given as 175.000.0001b and 1R0.000.0001b for liust year. Australasia's total for 1923 stood at 670.000.000 lh. ont of the trrand total of the world's I principal wool producing countries of j 2,180,641.0001b of wool.