THE AUSTRALIAN WOOL TRADE.

Press, Volume XLIX, Issue 14599, 25 February 1913, Page 4

THE AUSTRALIAN WOOL TRADE.

0 Nothiflg has occurred during the past week to affect tho healthy and prosperous condition of tho wool market or to mar tho outlook in the industry (says the "Sydney -tail" of January 29th). Tho weekly series of sales, in Sydney is now drawing to a close,- and although the offerings just now include a great number of daciiy-goc-up, uns_irtc-U, aud mixed l.ttlo clips of a rather nondescript character, competition has continued to be both general and very animated. Values have been raised" fractionally since the beginning of the month in the case of practically all wools, with the' single exception of extra good greasy mer _o. It there is any disappointment at the course of events in tho wool market this season it will bo found in connection with tho '< tip-top light-conditioned tableland clips from the northern and southern districts of this Stato, and particularly from the former, because the drought did less damage in Now England than it did down south. Southern growers i knew thoroughly well that their out- ! put was defective, and as a conse- i quenco were not over-sanguine as to j how it would fare in the saleroom. It ! is amongst the northern sheepmen that j there is a feeling that the market has ■ not favoured them so much as it should i havo dono in view of the scarcity of , wool th-s season. Earlier extremely j high figures were paid tor some of the crack New England clips, but with the progress of the auctions and the arrival of more ample supplies of super wool the level of values was not maintained. While prices for medium and good qualities ot merino and all kinds j of crossbreds have shown a hardening \ tendency since Christmas, the choicest j greasy merino has never recovered the fall of 5 per cent, which it suffered in ; December. Why inferior sorts should ! sell relatively better than tho best wools is a question many growers are asking. Probably the reason for this is to be found in the fact that now that wool values have reached an exceptionally high level all round, manufacturers are finding it exceedingly difficult to secure advances for the highest class . fabrics which would offset tho cost of tho raw material, and have less trouble . in profitably disposing of goods which , come in cheaper. It is, of course, a matter of common knowledge that high prices check the demand for wool, as , well as for all other products; whilst on the other hand a low scale of values can almost invariably be relied upon to stimulate and increase consumption.

But. no doubt, our very best grehsv wool has suffered to some extent- from the anticipated fiscal alterations in the United States. It has all along been seen that if the wool tariff {_ \__t country was reduced such of our growers as have for so long enjoyed a virtual monopoly of the American demand would no longer possess this great pull over all their neighbours. Now it is believed that in a few weeks' time tho tariff question will engage the attention of tho United Suites- Government, and it is generally anticipated that among other things the duties on wool will bo lowered. Pending these alterations American buyers operating in Australian markets are not able to launch out much, and are compelled to confine themselves to covering pressing orders such as must be attended to regardless of political conditions or tariff discussions. The arrivals of wool in Sydney by coast aud rail now exhibit a decrease on last year's figures of tho receipts of about 121,000 bales. Altogether a decline in Australian production this season of 250,000 bales is now discernible in the figures of tho wool arrivals in the various markets. In Melbourne and Geelong the wool season, which this time provetl a very short ono owing to decreased production through drought, finished a week ago. Some small quantities to clear up the market will bo held in February, and in the meanwhile prices aro showing an upward tendency in those centres'. For the" Brisbane sales next week about 20.000 bales aro available, and of this a largo proportion is scoured wool.