NEW SEASON’S WOOL CLIP

Press, Volume LXXIV, Issue 22435, 23 June 1938, Page 13

NEW SEASON’S WOOL CLIP

SUPPLIES AND DEMAND THE SITUATION IN AUSTRALIA Although it is estimated that Austra,wfU * row only 2,970,000 bales of wool m the coming season, the smallest quantity since 1930-31. the clip plus the carry-over at June 30 next, will not show much change in quantity on lafpc? r -i ent . se^ st i!?.’- s suPPHy. says the ; jj£ St report of Wmchcombe, Carson. crLS™ 1 in trade abr oad and md consumption of wool will be to Produce an appreciable nat^iJ d + u mo 7 ement in Prices. Unfortunately the trend of the market lately ‘ en ea , sler ’ Particularly for short. ' r i v ools grown in the drought. that ty ße will be more S’ S®, cnbfu! next season owing to • ioSth P wl U i res ov ? r a wide area of New Wales and to some extent in a m pS eC ot dlstricts in other States. s ? me years demand for woollen thantv,^°* r , mens wear was stronger Uni?J hja * f ? r women’s fabrics. In the S*te. the Position has been • fnX.l d t hls year- Textiles for fem- ’ Arno»- -Use have sold fair ly freely in th« ! „® e l^ an retail stores and the demand for male apparel has been slugin thpSsi n ! um s tlo . n of apparel wools c 5 loffl, tes . duril l g the earl -y months 1 SrZr 8 A ess . tha n half the quan- ■ d ,* n - the similar period of 1937 ■ most lm P°. rts of wool have been ;: S thp fn+ff 6 -’ bomg about one-twelfth nnwfLrf tota * ln *be first quarter of the th ng X ear - Xt is hoped, however - aarnm» Government spending proL.SSffiLn’l'h/Ss* bri «!l*tenin E in |; Japan’s Purchases t v,, a Pa n has not bought wool in anytS2L ap *s^ oachijl 3 the 500,000 bales exj th i? season. The latest figures v in V hp 1 i 1E the stocks of wool on hand * 4m tuvnK reho A ! es r show a total- of miaS^u At June 30 - 1937, the wantity was 103,400,0001 b. Consump-

tion of new material has, therefore, outpaced the supplies which have arrived, in spite of the increased use of artificial fibres in textiles. As a matter o' fact, the output of Japanese wool fabrics during the second half of 1937 showed a slight increase compared with the first half of the year. In 1935-3 J Japan bought 785;469 bales in Australia and exercised even a greater influence on prices tl an is conveyed by those figures owing to the freedom with which she competed. If Japan were buying to the extent she did previously, prices would be on a higher level now. The anomaly of the position is that the Japanese industry wants larger supplies of wool, but ha; not the money to buy it. Artificial Fibres The position of the wool market is not due to any special weakness in the situation of the raw material. Artificial fibres are being used, but two countries, Germany and ilalv whicn produced 357.000,0001 b of staple fibre in 1937, three times taeir 1935 output have imported more wool this season than for some years. It is by no means certain that artificial fibres have decreased the world's wool requirements In some ways they have increased its needs by the production of cheaper goods. The current level jf wool values 't caused bv trading circumstances wbic’-i have affected prices for primary products generally. If business were to brighten in America au-i conditions in other countries of the v, orld were to become more settled, wool would be in as ready demand as ever at rates appreciably above the present basis. No further sales will be held in Sydney until August 29. In the next three weeks auctions will be held in Brisbane.

SOUTH AFRICAN CLIP According to advice received in Australia the coming season’s South African wool clip is estimated at 730,000 bales. The carry-over unsold on June 1 was 30,000 bales. The current season’s African clip is approximately 709.0Q0 bales, calculated at the African bale weighing -3241 b. The carry-over at June 30, 1937. was 1000 bales.