WOOL CONSUMPTION

Dominion, Volume 32, Issue 262, 3 August 1939, Page 12

WOOL CONSUMPTION

Big Increase This Year FAVOURABLE OUTLOOK Consumption of wool in most countries has been considerably greater this year than in 1938. In Yorkshire that increase has been noteworthy, Winchcombe, Carsou Ltd., Sydney reports. _ The Bradford Conditioning House returns give a good indication of turnover at the English mills. The quantity oi tops dealt with at that establishment Irom January to May was 22,00 l 6i31b.. being 50 per cent, greater than for the 11 VP months of the previous year, total turnover of all goods at the conditioning house showed an increase of 26 per cent. Further evidence of mill activity is supplied by the fact that the workers unemployed in Great Britain’s woollen and worsted textile industry in May, 1929, were 12.3 per cent., and during May, 1938, 21.8 per cent. . Comment has been made on Great Bntain’s heavy imports of the sheep s staple compared with the preceding year, lhe fact appears to be overlooked that the latter was a particularly light importing period. The question was raised at the time that the smallness of stocks put the United Kingdom in a risky position in regard to supplies. Actually the quantity imported restores English stocks to about the position they occupied in 1936. Their presence in that year was no hindrance to the purchase of further supplies. The point is recognized that English wool holdings were allowed to reach unduly low levels in 1938. Millmen certainly chose a favourable period to restore their stocks during the past season, as Japan and Italy were buying less wool and American buying operations, though greater than in 1937418., were still on a very moderate basis. Production of tops at Roubaix-J ourcoing in France from January to May was 33 per cent, higher than a year before, but stocks are slightly less than 12 months previously. That fact indicates that trade has practically kept pace with output. In Belgium the quantity of scoured and carbonized wool treated at the conditioning houses was 33 per cent, greater during the months previously quoted. Tops and yarns also showed improvement. In Holland mill activity has notably increased. The mills in the United States have been much more busily employed, and consumption of all classes of wool expanded to a marked degree. Those are the favourable developments experienced in regard to the quantity of wool consumed. The cheapness of the raw material has probably been an important influence on the quantity used, but if turnover elsewhere were equally favourable those concerned in the marketing of the sheep’s staple would have cause for marked optimism. Japan ie one factor retarding an appreciable improvement in prices. Her requirements are about one-, third of those of two years ago, and that reduction exercises a considerable influence on the keenness of competition. The better trading circumstances experienced elsewhere may cause an advance of some degree, but till Japanese needs approach to those of 1935-36 and 1936-37, the attractive prices of those years are not probable. The outlook for the sale of the new clip is brighter than a year ago, but expectations need to be kept within conservative limits. CHILLED BEEF EXPORTS Latest Shipping Allotments The Meat Board advises that the chilled beef allotments made to freezing companies for arrival in the United Kingdom during the month of October, total 14,602 quarters. District allotments arc as follows :• — Quarters. Auckland ........ Hawke’s Bay (inchitl. Wairoa) 1,1.40 Taranaki, Wanganui, Manawatu, Wairarapa 10,436 Total 14,602 Details of t.he vessels, with quantities and loading dates for each port, are as follows: — *Waimarama, Wellington, to load, quarters, 3100; loading dates, August. 13-16. Waimarama, Auckland, 900; August 21-28. Sussex, New Plymouth, 720; August 16-19. Sussex, Wellington, 1926; August 21-23. Sussex, Auckland, 1426; August 26, September 1. Port Hunter, Wellington, 2000; August 21-24. Port Hunter, Auckland, 700; August 28, September 3. Arawa, Wellington, 2300; August 24-27. Rangitane, Wellington. 1530; September 5-7. Total quarters;, 14,602. *Due United Kingdom, September 27. Above dates are approximate and subject to alteration. BASE METALS MARKET Copper Again Firmer By Telegraph.—Press Assn.—Copyright. LONDON, August 1. The official London (middle) quotations compare with those previously cabled as

Antwerp Wool Futures Market LONDON, August 1. The Antwerp wool futures market is quiet. Today’s quotations compare with those cabled previously as follows : —

London Stock Exchange By Telegraph—Press Assn.—Copyright LONDON, August 1. On the Stock Exchange today corporation debentures aud stocks compare with previous quotations as follows;— July IS. Aug. 1.

Butter Market Steady rt.v Telegraph.—PresQ Aasn. -Copyright LONDON, August 1. The butter market is quietly steady. Choicest New Zealand, salted 120/- a cwt... uncalled 121/-; Australian, stilted and unsalted, MO/- ’to 111/-.

follows: — July 31. Per ton. Aug. 1. Per ton. Copper— £ H. (1. £ 8. d. •Standard, npot 10 0 13 15 74 Ditto, forward ... 13 15 0 13 19 44 Electrolytic ... 49 . 1 0 49 u 0 to 49 15 0 50 0 0 Wire bars ... 49 15 0 50 0 0 Lead— 4 A 15 Spot . ... U 19 5 74 Forward ..... ... 14 19 44 15 o 74 Spelter—* .., 14 6 14 Spot ......... 12 11 104 Forward ..... ... 14 13 14 14 15 74 Tin— Spot ... 229 18 9 229 IS 9 Forward 1 3 3 9 Silver— Standard, an oz. .. 1(1 13-Kid. 10.13-1 Cd. Fine an oz ... 18 l-8d. 181-Sd.

July 2i. d. Aug. 1 d. July .... ... 21J August . * > u 21 i October ... 21g —- November • v 21 J December .. 21i January 0 . „ — 22J

i Dalgety and Co., 4 p.c *7« I s. d. £ 8. 0 d. 0 0 0 *78 Dalgety and Co., 0 shares ...... *4 o ♦4 1 6 P. and 0. def. ... 0 18 7* 0 .18 9 British Tobaeco . *1 16 3 *1 16 3 Goldsbrough Mort '*0 19 Si ♦1 0 *4 ♦Nominal.