OUR YORKSHIRE LETTER.

Dominion, Volume 2, Issue 573, 30 July 1909, Page 4

OUR YORKSHIRE LETTER.

''■ THE NEW ENGLISH CLIP-HIGHER '■ PRICES CERTAIN. (From Our gpocial Corrospor.dcnt.) • '_~.'"' Bradford, Juno 18. This week really marks tho ,opening of th« ■* season for English wools, several cou'ntry fairs opciiing. Growers everywhere'are on tho qui' vive, and already they aro reckoning •upon'sfln' sihly high prices., than, what obtained laW year. It is quite cortnin that they aro not looking in vain, but whether or no they will receive all they are expecting remains to be « on 'i'i i i ls ccrtai " that "'any haro got tho swelled head, and unless '.here is manifest a stronger disposition on the part of buyers to operate than what is evinced, at present by Bradford merchants, some will bo disappoiiitc(l. Howover, wool'conditions, if. at the moment quiet, aro sensibly better than they were at this time a year ago,' and /there is ctcry an-' pearanco of English descriptions felling nt' s?n> sibly higher values than was the case twelv< months ago. Tho fact of the matter is wool ' markets since:last November havo vastly im'. proved, and a totally different spirit animates tho entire trade: to what, we onw 'M the' advent, of the last English olip. In June, JSO)s, all buyers aliko had 1 experienced, a -tcrriliU time, values having sensibly-fallen. In lh« downward course .of prices millions had been .• lost, consequently tho trado .a year ago was 'in poor heart, but with prices. being low and • wool cheap' caused a very enterprising spirit to obtain, which led buyers to, purchase freely in the. hope of values improving. It is now anaxiom of tho wool trade that things are always "safe" when price's, aro low, and there never was a limo in the wool trade when uscrr wcrc'lio'; prepared to speculate when wool/Was cheap and to go from hand to mouth whoa prices are high. ■ .',..... ;-,..,;.. .Tho new season opens with stocks of English wools ,in very small compass,, there l being ■ hardly any description left over. Perhaps the greatest weight is in lustre wools', these hardly . enjoying .that favour which has been seen in wools of medium to fine quality likohaifbrcdr and good Down descriptions'. Duriiig'.thc last six months English wools havo been shipped jn very largo quantities, thanks' entirely to ai active . demand on American i account. ' Tlk fact of the matter.: is but' for the-United States,: English' wools: would lievcr; have assumed- that, healthy, appearance which has been seen, and to-day great things are being expected by Homo'growers and merchants from / across, the Atlantic:'.. American buyers have. shown l great preference,: for v. good halfbreds, Eastern 'Counties wools,, as well as Shropsbiro and other Down-qualities, including North hogs . and good Scotch, blackfaced.': Irish domi-liistra wools have also been popular favourites, .and without, doubt'we are •cerlain to see sbonef or later.rehewed American inquiry. Whether or no, we shall see that- big demand' in the near future remains to bo seen, for there is at the moment a/feeling, abroad that American importers, realising that values aro Somewhat dangerous, will probably keep hands off until they have worked up'some ot^ their heaxy ira- , port's of. similar descriptions «ro-.colonial' sorts. However, the Unitiid States a very large and. important outlet fo* i English. descriptions, and with trade being good across . tho Atlantic is. imparting considerable confi'dence' regarding the future, of. Home-grown sorts.-During the pastpiro vio"H's: we have exported, wool - to'.tbe'^UnHod; States'to the . tune-, :of:.'/ 85,000,00j)1b'.,..i-compared : »with-. 30,000,0001b. .■' for./, . .the/.', corresponding . nine months,,ih 1907-8., .In ./fact,, our,,re-exports'.of, 'wool to' all countries during.that ! period amount' to 321,800,0001b., compared /with '182,600,0001b. . for-the corresponding'.previous -nine; months, and/.hcre wo have' on important'light/thrown•• upon; tho English' wool trade .which' largely, ex-: plains .its recent activity.; r '//-;'. -.',-,'■ / •'. Prices,'- to-day nro 'undoubtedly//the. aH-inV : portant question with the English,'wdqlgrowcr, and the, same can bo said"for. tho dealer. '•'■ A- . glance .at the table below; will/show,'-a" great ' ■ change in t6-day's;, quotations .to/-what:;wcre. ruling .values, a year .ago/ and' it/ will bo seen ~.; when contrasted -with tho' low pricesyTuliug. in'.'l9ol'; that forsome'descrintioi'sjtlie advauco.V is very Considerable. ■ As , already 'said, prices have sensibly advanced, siucse. tnistyear came . ;■/ in./and- in this connection: the'.results'seeii; at. '■:'.'.-' the ; recent London. series are -well worth considering. .There is the, keenest..competition between -New/Zealand . crossbreds ,and ...similar ..'. descriptions;grown in-England, and tho-under-hipiitioned particulars/show what a vast difference in price was'actually made/for the!self-, saino clip 'ajt;,iho"lJftjv.fieries of., Londo n" ialcs, . coitipared, with*"il .yealf;'; ago, ,whcu ■ prices ■ wero at the. bottom:—'';: :■■::'■■' ■•_•■■ ■:;"■■ -'--;■; -,-.' . '.■■ ■ : : : :,:^ : :,\Mr- : mft - '-. ■ c ■:;';■,-■'• ' l -"' '.'■ ." , '"-, ! >";-.:''- •/■ ■■:■-.\';-'iWlc's,- salc?, : ■' v.-'-'j.;::,•'.■■ v:> -'-.>" .':// v /;: ■•" ,' , -Name of clip.' 'I:-: ■■;.':■"«'-'. ''i.-, "'.fe'd. 1 - . l- ; >d.. '..■ The Warren 12- -p'W ■ ; Cheviot-Hills-....%.,-....-.-.'fti.-;.V.;;.V.-.v..M.'' lOfi';-.. 15J " 800 or.Fly i1 ';.. i :....v..K'..'i.5i.i.-.-10,.>-.- . .15. / . Hakatariimea ...i.....'..!..'..,'....,.....',..,*.., 11/ ■: .13 CC; in/diamond ..,....„;;......;......„.;:.; 11 j ,i,13.. 'Titr .i;....:......;;;.r..;.-......:....„..........;,i0i ~;.;« ■■- M'Donald Downs ........'..„.... , .,...i.:.;-.. 10J ,14 CM over diamond .V...;/......'........... ..M:': '~-J3i Ac1and.........^.... i .....; ...i.;.....:;-....'." ;ioj ,13 Wlinramii 10, .;' 13} ,' 10' ! ) /«! - Kcr0ru:;.'.;.;.;^i....:..,,;.0.;^i.;.'...iMM.v; v ;/;7i.'/.'121; . '■■■•' The iibovo' shows''some 'radical changes,-..but it should bY'explained-; that fucli. high prices . were:■ paid/'by America'.''nt !! the; recent-.sales,. values',advancing froni lid/' to. 2(1. -per : lb.' on -.' New Zealand crossbred: wools."-;.Uuited'-'Stites.-buyers npernted.extensively to.be in : a- position to.fight their, own doolerp;/who'seem to . be bent; on forcing up values'for all. they are worth,; and also-becausp/tl'e folcction will now „-. get ,worse in crossbreds;till the-advent ,of the,-.'." noxt New Zealand-clip, which caniiot:nrrivo in ' any quantity:till, next, January.. The ihg-' table "shows,,Che"'standiug/6f English descriptions- on, the; Bradford ■ market /compared, witlv./tho -corresponding''.date -'a year -ago, and prices -are' also: given -when,'the- lowest, point, was/touched in-November,'. 1901:— /;-':/ /,/i/ ■■• '; :; / ■'."."■:'■■■'•''"• ' .liowest".pointy--:-..i' :.'': -.-;/ :.'■■ '•'.' ,: ■-■•-•■ s --.- ',- - Nov., '•-' June,.,/ Jiiho, '-''■: a- 1 / '■'■■' ■ ':• •' •' - "1001,-': "1908; ,;'--1909. : : -;;;<;-/!'■':/■/ ■/ ! - ; " : '/-, ". :&<■'■; ...d;' /.//d...' ' Lincoln, hogs '......;...'........ 73/ .. .; 7J '-' ',v9j Lincoln .wethers ..,;........"4J';: ' : 7 •,-■■■ ; 8} Irish, hogs, super. ■..';■..■;;.■.' S\'-- [ : ■:■"';v9 : :. ;' 121 ■Trish-..wothcrs'-i..i...;.;.:,... : :..5i;-,; ■'-■' 81 ■■. :, 111:. 'Halfbred hogs;, ..;.,,...7 /;•'•.'"B}r/-.. ; - ■"-'■'•.• H.ilfbred wether 5.;........... 0i :V,.:; ; &7f ~■/■.'■.-9* North.hogs, b05t........w../7-v; : : ':';9| /-MI2J Shropshire hogs/..;.;.......; 3,//-. -10. .;;;. 12| - Wiltshire, Down: tegs ..'..,, 9..';., 11l .:.,.,; Ml . Scotch/blackfaced ...;(:.'... M/' ..-'.;■ 5/ ■ ~-. 6_ ,40V crossbred, tops ,;...'.../;7;, ././'. 10" ,V;/ ZWJ :'• Prospects,, point to/ very,. satisfactory, sales, when the' country fairs opon, but growers will bb well advised not to expect/extravagant prices.; Buyers are faced, with a very difficult situation, for if the' American demand stops prices "arc- bound to:decline. ; Conditions m ;. Bradford have turned very quiet, and. there :is...,at-.-the- moment, a ! strong feeling -of hesitancy.. America, holds the key to the sitna- ~ 1i0n...-If operations can' bo relied,upon, from that-quarter,, then a good; trade, is.,assured, , 'and in the' interests of both. grower and. seller it is', to/be hoped .tho/Tankees will, remain ip:/ the field for some time, to; c0me.,..'..:/ ; ■,'.,'.

:'■■■■;} -':::■ a slack''market,;;,.;:':,;.,^:''; '; ': 'Goudifions. in Bradford do'not' show mucy ,'• sign' of improvement, oud:nll: one can say, is that things nro "marking time." -,'Therois a < [feeling abroad'to let, things quietly work out 'their own'.solvation;' and:as',far as 1- one 'can' see thero is little' disposition on the part of '-' [either ■buyers' or 'sellers- to : force' the- paoo.-;.: '.'Price's are uot.as firm,as:they might'be,' and', super 60's tops • are not. worth' more , than 2G|d,, iThis, stands:in strange contrast to 'tho' nowi;■'..■ cabled:, from [-'.Brisbane,, vhere it, is said that' : 'wool: bought there at tho; recent'auction will cost .When combed 281 d. for 64's tops, a'prico, . .that is altogether,above this niarkot. No difficulty whatever would be encountered in buying "sOmo .good weights of;that quality at; a.;. penny less, and upon that basis prices are rest-' ing. Tho present lull is the.inevitable result of tho recent pronounced activity.: Wo said at.:the time that spinners could not go on buying v. .'week after,; week like they had .been doing) in fact, tho market, for. throo months was :cs ■-. treincly active,; and there'[was.bound' to,bo ; a .".. slowing'down .sooner, or later;:*; At the samo, ; time there .is'no uneasiness felt 'regarding '. tho "'"•'.' ' course of'wool .values..'-Therb.:is.d : 'general. im'-.\ . : pressibn that- at' the .next series, of London'' : sales wb shall sco very littlo .'Change to what ■•.'..; obtained. last series! It- .is* possible'''that*- theoxlrcme prices paid by America may not ! bo- . seen, but the level of values determined by , the Homoand Continental trades will-probably;"/ be made; and if that obtains it; will, prova the: solidity of the situation. Consumption re-1 mains : intact; ...rind', that is. something,.to bo .... thankful: for. So long., as' tho raw ..material - sells and is wantedj so long \\ijlVprices ro-': . main at to-day's level,- I .'but-' the 1 fact'is very -.; significant that nobody is prepared to take any"; : risk by' selling ■at less■' money for a' : distant-, date, l'rices all round are r. good Jd.Jess than - they wcro during tho courso of the last London sales. Plenty ot topmakcrs say that they have taken" no less money as yet,: the only difference being that they liavc never 'been able to realise tho figures which: they felt,justified;in asking when, they saw wool selling, like it'did . last month.in.Colemaiv Street.. Crossbreds too]' \ very slow, and tho, prices of 40's is certainly no more than" I2|d. for. a '/"good : prepared top.'.'•'..'. •Mohair is very strong, and considerablo:'uo;tivity is seen; especially at' tho'source's'of'sup- ..'..■•■ ply. Capo firsts are standing to-day at:'l4d. ; to" , Hjd„ Turkoy average 17d, to 17Jd., and Cape-■'-.•■' Winter 101 d; - -,•-.-,.,-v. .'..''.'