JOHNSONVILLE SALE. THE WOOL YEAR

Evening Post, Volume CVI, Issue 4, 5 July 1928, Page 16

JOHNSONVILLE SALE.

THE WOOL YEAR

;*". ■ Wright, Stephenson and Co., Ltd., and •i* [Abraham and Williams, Ltd., report on £ Johnsonville sale held yesterday as folXi lows:—An average yarding of sheep and 7' cattle came forward, the quality of both v. classes of stock being very good. The bulU locks comprised several pens of particu- \~ lady prime heavyweight cattle, and met •■» with good competition. Bidding for sheep T. was rather dull, prices showing a slight de- ;;; cline on late rates. Cows and heifers sold "■ on a par with last week's sale. We quote: v-.. Bullocks, £12 17s Gd, £13, £14, £14 12s f; Gd, £14 17s Od, £15, £16 17s Gd, £17 15a, ' to £18 10s; cows (light), £3 15s, £4, to ■•'■' £6; cows (heavy), £8 7s Gd, £9 ss, to £10 Z 2s 6d; heifers, £9 ss, £9 15s,'.to' £10 2s Gd; vealers, £3 10s to £3 15s; wethers, 42s lid '." to 42s 9d; ewes, 28s, 295, 30s, 30s Gd, 325, Z to 32s Gd; lambs, 21s 9cl, 23s Gd, 245, 20s, Z 30s, to 325.

£13.500,000 EETUIIN A BRADFORD REVIEW JMcssi-s Dalgety and Co., Ltd., liavo compiled returns of wool offered ami sold for the twelve inoiillis ended 30tli June last, which, on a basis of £25 iicr bale, show a distribution on account of the .staple amounting to ;013,518,(i23. The uuanlities offered and sold during the periods of 19:27-28 and 19JU-27 compare as follow:— 1927-2 S. IO^G-'JT. Selling Bales. Bides. Centre. Offered. Sokl. Oircml. Sold. InveroiirglU . 30,900 3U,7uu 27.051 2U,22ii Uunedin 79,014 73,895 71,811 71-,ls'J Tlmaru 31.517 31,525 29,440 29,109 Cliristchurch . 75,425 75,010 77,023 75,97:! Blenheim ... 174 . 105 202 24 (i Wellington .. 117,043 115,402 112,793 109,070 Wiinganui ... 59,480 58,038 (12,921 SS,S3y Kapler 102,998 101,013 90.559 91,325 Gisborno 2.548 1,802 3.452 3,310 Auckland ... 47,900 47,020 47,020 48,143 548,205 540,345 525.704 512,059 The quantity offered during the month of June last was 7527 bales, o£ which 6148 were sold. On the figures as at the end of June last there is shown a difference of but 7920 bales held over, and it is not improbable that these have since been reduced by sale. The indication's are for practically no carry-over into next season, the floors of the stores being absolutely bare when tune comes for receiving the now Hip. The exports during the twelve months have been made from the following ports in quantities shown: 1925. : 1927. Bules. ' Kales. Tnvcrcargill 38,009 36,553 JJimedlu : 78,102 O(i.2(H Oainnru :>,SOO :i,477 Tiuiaru 42.0 M <U,72t Cbristdiurch ... 93,11 m 105,589 Blenheim 3,S!H 5,371 Nelson 0115 1,080 Wellington 143,513 18f1,«42 Wangamii 03,359 03,158 New PlymouthWaitara ... 1,G02 3,410 Napier-Wairoa . 107,005 105,818 G'lsborne-Tokomaru Bay 29,5159 26,503 Aucklanfl-Opua . 52.83S 59,003 058,300 055,712 Exports during last June were 10,893 bales. All woolb, greasy and slipe, are included in the above returns. London fourth series of sales begin on Tuesday next with a total catalogue of 102,000 bales, of which' 36,500 bales are New Zealand wools. EVERYBODY SURPRISED. Messrs. H. Dawson and Co. described the last sales as closing with a stronger tone and on'a slightly higher basis than at the opening. Their comment on the situation as at 22nd May, is as follows:— "The most critical sales of the year have closed to-day, and have given a decision strongly in favour of the raw material. There has been a progressive improvement in competition and confidence, with a slight hardening of values for the principal combing grades. The opening weakness in faulty merinos has been shaken off, and in fine halfbreds, which were abnormally dear in March, values have partially recovered the early decline. 1 "The strength of the market-has been surprisingl to everybody, and especially to those at the consuming end of the industry; it is more due to the paucity of supplies rather than to any augmented demand. Happily, it has saved the local markets from any notable decline, despite the fact that the past weeks have been marked by a general pause in trading at .most consuming centres. ' New business at the enhanced values has been impossible; moreover, "the stagnation lias been aggravated by the fact that existent contracts at much lower values are not being freely taken up. MANUFACTURING POSITION. "The struggle to gatii even partial advances in yarn and cloths is becoming most critical. The firmness, of the raw material against all the adverse conditions canont fail, however, to stiffen the attitude of producers, who are now realising that it is hopeless to expect any easing of in the present state of supplies. In Bradford there is a stronger undertone and considerable optimism, because of the comparatively small stocks. "There are still some serious problems perplexing our home industry. Many people have come to the conclusion that there is a surfeit of'machinery capacity. The competitive eagerness of individual firms to keep the wheels running' and their -workpeople employed literally means a sacrifice, on balance, of all profit to the industry. It has often involved the acceptance of a smaller loss to keep running, rather than the greater loss of standing idle. By this policy the trade is weakened and hampered in being placed at the mercy' of the' distributor and retailer, and thereby rendered incapable of demanding is adequate share of the profits which are certainly being paid by the ultimate consumer for his clothes. It seems, under such conditions, almost impossible for the manufacturer to- secure the working margin necessary to avoid losses, which in recent' years have already tested the stability of the trade to its utmost limit. EXPEDIENTS DISCUSSED. "The situation is forcing many to discuss and give consideration to ideas and theories most unpalatable to individual enterprise, such as the policy of combined selling'or new systems of distribution. It is being seriously canvassed that .either some policy of, amalgamation, or a stoppage of production until adequate values can be obtained, appears to be the only alternatives to further ruinous losses. "Bradford is fairly well occupied on old orders In Germany the combers have about three months' work in hand, but new orders for spinners do not materialise. Unfortunately there is hardly a market in Europe that is really active with new business, and the pause is general. ' "Wool- is the most stable article in the industry, and until fuller supplies are available from the new clip there seems little hope for lower values.'