WOOL POSITION

Press, Volume LXXIV, Issue 22533, 15 October 1938, Page 13

WOOL POSITION

AMERICA AND JAPAN Winchcombe Carson, Ltd., the Sydney brokers, in their current report dated October 4, report:— Good effect was quickly noticeable on the wool market when fears of war in Europe were allayed. Prices did not show any spectacular rise, nor are they likely to do so, but demand appreciably expanded. The absence of sharp downward variation in values during the uncertain period is a tribute to the soundness of the wool position. The hope can be expressed that the personal contacts made by those in authority among the nations will result in a greater understanding in respect to trading conditions and permit of a freer flow of international business. The sale of wool and other raw materials has been hindered by tariff walls. Australia has contributed her share in that respect. If international trouble had developed, for at least a time, difficulty may have arisen in the transport of raw material from the producing countries to Great Britain. Supplies of wool in the United Kingdom would have become scarce and consequently dearer in that and other oversea countries, in spite of the presence of ample quantities in Australia and other woolgrowing quarters. In June, 1915, 64's merino tops were quoted in Bradford at 44d per lb, and during that month good greasy merino fleece wool in Sydney only realised IOJd to 113 d per lb, medium BJd to lOd, and inferior 6|d to B|d. That experience shows the important part transport facilities play in assisting to create markets for the world's products.

The United States has not so far been a noticeable buyer at this season's auctions, but small exports of wool have been made from Australia to that country during recent weeks. Though no consistent improvement has developed in American wool markets, signs of increased business have from time to time been evident. In July, exports of goods to America from the Bradford district were valued at £110,383, compared with £37,298 in May and £58,916 in June. With a large population the United States is a most important direct and indirect influence on trade. She has in some years directly imported large quantities of wool and indirectly she influences purchases of raw material by buying fabrics in Great Britain. During the first seven months of 1937 the United Kingdom exported 5,380,000 square yards of woollens and worsteds to America, being twice the quantity shipped during the seven months of this year. Her imports of wool for the first half of 1937 were 235,300,0001 b and 1938. 24,800,0001 b. Periods of high prices in the wool ! trade have coincided with American operations. If prosperity is experienced in the States, the high earnings of the population, compared with salaries and wages in most other countries, enable much advanced prices to be paid for raw materials. In 1937, she lifted over 1,000,000 bales of wool from the world's markets. A total of that extent makes a decided difference to the quantity available for other consumers, and is a forcing influence on values. The lowering of the tariff on wool entering the States would be a boon to the Australian and other markets. The absence of a good demand from the United States and the reduced purchasing by Japan, compared with a few years ago, to a great extent confine competition to Continental and Yorkshire operators. The ready sale of Australian wool now looks assured, but trading circumstances throughout the world would need to improve considerably to promote a marked advance in prices.

NOTABLE SHORTHORN HERD SALE OF THONGSLEIGH CATTLE Established more than 50 years ago —as a matter of fact in 1886—there are few herds of Shorthorn cattle in New Zealand for which such a long pedigree can be claimed as for the well-known Thongsleigh herd of Mr J. C. Chamberlain, of Brookside. All the present herd trace to the cow Canary, imported to New Zealand in 1881 by the late Mr William Boag, of Burnside. Outstanding sires have been used throughout the history of Thongsleigh, all of them being either imported bulls or their sons. At present leading the herd is the imported Princeton Lomond, bred at the Prince of Wales Canadian ranch. Princeton Lomond was New Zealand Royal champion in 1934 and 1936. Other sires include Langley Master 2nd, who has sired, among many prize-winners, Thongsleigh Master 11, winner of 11 championships. An attractive line of Thongsleigh cattle will be offered for sale on Tuesday. November .8. The sale will be conducted by the New Zealand Loan and Mercantile Agency Company, Ltd., and the National Mortgage and Agency Company of New Zealand, Ltd.. in conjunction. Catalogues will be forwarded on request. The time of the sale has been arranged to suit the convenience of Cup Week visitors to Christchurch.

SHOW DATES The following show dates for the forthcoming season have been arranged:— October 18 and 19—Marlborough. October 20—Ellesmere. October 24-—Kaikoura A. and P. GymOctober 28—Amberley. October 28 and 29—Timaru A. and P. Association. November 3—Ashburtoo. November 4—Northern, at Ranglora* November 10 and 11—Canterbury Metropolitan. November 16—Waimate. November 17—Peninsula, at Duvauchelle. November 18 and 19—North Otago. at Oamaru. November 19 (Saturday)—Courtenay; at Kirwee. November 26 (Saturday)— Banks Peninsula; at Little River; December 10—Wyndham. December 31—Amuri Cob and Pony, at Rotherham. 1939 February 7 and B—Dannevirke. February 18—Ha ward en. March 3—Kaikoura. March 21—Amuri, at Waiau. March 11—Cheviot. March 25—Methven. April 10—Mackenzie Highland Show; at Fairlie. March 11—Cheviot. March 11 —Mayfield. April I—Hawarden. April 6—Oxford.