ENGLISH WOOL TRADE.

Dominion, Volume 2, Issue 483, 16 April 1909, Page 2

ENGLISH WOOL TRADE.

AN IMPROVINC OUTLOOK

Thus cheerfully, on the wool prospects, writes a correspondent in the March issue ol the "Farmer and Stockbreeder" (London) :— "Tho past month in the wool trade has certainly shown up bettor than what looked likely when wo last wrote, for it tliou r.ppeared as if for the liiim being the advanco had spent itself. Tho slight caso in prices about the middle of tho first scries of London sales bad a groat deal to do with gencrating a feeling of uncertainty throughout consuming centres in regard to crossbreds, but a firm finish soon silenced all quivering in regard to the immediate future of prices. February has been productive o f a smell of activity in colonial crossbreds, which has more or less strengthened tho position of English descriptions, and produced a feeling that after all our home-grown wools aro safe for some time to come. It is too early yet to say anything about tho coming new clip, but it looks as if to-day's prices iiro going to hist, and tliat will moan higher values for English sliecpfarmers when they come to market their next clip of wool. However, wo have still to face and to lift some fairly big quantities of New Zealand crossbreds. and the course of prices at the March and Slay sales will bo tho strongest governing lactor for the next English clip. Tho past month has been a busy time with those handling tho raw material in Bradford, all lopmakers being exceedingly busy. English staplers could have done more, but in several descriptions all stocks aro about exhausted, and instead of country dealers shading prices, they aro naturally wanting the utmost farthing. Shico the close- of tlio la6t series of London sales, some brisk markets have, been seen in Worstadopolis; there havo been sonio largo sales of both wool and tops, consequently the- trade generally is in better heart, and more has been douo. on future account. Better news has como from Germany as well as France, and if tho Continent will only start buying crossbred yarns, there will then be conditions created which are bound to help the said of English wool. Our homo staplers have been well off this last six month with splendid American support, otherwise they would not have dono so well, it being largely duo to United States buying that wo see a practical clearance of Irish, good halfbreds, and Shropshire Down wools. "It is a well-known fact that both to Now Zealand and tho Argentine there havo been during tho last twenty years some good shipments of English pedigree sheep stock, and wo seo tho result of this in the largo quantity of crossbred wool that is now being grown in thoso parts, and which has all to bo consumed in England, on the. Continent, and in America. Now this means keen competition to our domestic wools. There is to-doy as good raw material being grown in England as in any part of tho world, but New Zealand shoepfarmors, if anything, turn out a larger quantity of high-class crossbred wool than do English farmers. At tho recent series of London sales wo had tho first consignments of now clip wools from tho Dominion, and below English shcepfariners are shown what their New Zealand cousins aro doing by way of wool production. The tnblo shows what prices wcro realised for the self-same clip at tho January series for the last thrco years, and as these are all for greasy wools they certainly aro good:—

"As already said, the trade done has shown a development on right lines,-and , although I cannot report any increase in prices, yet the tendency is in that direction. Tho amount of good that has been aecoin- • plislicd is perhaps best seen in the tendency towards a decline being arrested, and the creation of a nioro sound nnd healthy feeling in the future. America transferred its attoiiLion to Bradford when London closed, and has bought considerable quantities of botli homo and colonial crossbrods' during the month, while the move anion;]; topmakers and spinners has also given increased stimulus to'.nil holders of English wools. Lustre descriptions, such as Liucolnt, Nottingham, and Yorkshire, have not moved so rreely as domi-lustre wools, and these aro to-day about exhausted. America has not bought bright wools ns it has those already named, and the comparative slackness in lustro dress goods is also accountable for the lack of activity in these grades. Topmakers show less disposition to take up home-grown wools owing to average colonial descriptions being a trifle cheaper. The outlook seems fairly satisfactory, nnd to-day's prices look like being maintained. I really cannot sec very much chnnce of materially higher rates unless trade still further improves. More lately has been doing, hut I am afraid that a fair share of tho recent heavy purchases lias been done through a fehr of prices getting dearer, and not on account of real urgent requirements. However, there is a good undertone, and to-day's rates aro healthy enough."

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