CONTINENTAL ACTIVITIES.

Evening Post, Volume CXI, Issue 92, 20 April 1931, Page 10

CONTINENTAL ACTIVITIES.

Mr. W. P. Devereux (the representative of the Australian Woolgrowers' Association) reported, London, 11th April, that the holiday, closing many mills, precluded a.true test of the market.. Not much, business in tops has passed in Yorkshire. Bather lower prices have been taken, but the output of tine tops lias been taken up freely. There is little business in yarns, and particulars, which were coming in freely before the holidays, have now diminished somewhat. A similar position exists in Germany. Demand for raw wool, tops, and yarns has been less active. Spinners' quotations for yarns have been reduced the equivalent of Id a pound. Specialists in ladies' dress goods are fairly well employed, but men's wear and heavy goods are quiet. France and Belgium indicate fair activity for tops and noils. Spinners are fairly well employed. The futures markets in Antwerp and Boubaix showed minor fluctuations during the last fortnight, and transactions were small. FACTOR OF EXCHANGE. Messrs. Winchcombe, Carson, Ltd., Sydney, report: "On the average, values for greasy wool in Australia have advanced 4d per lb since last' January. Every penny per lb obtained for the clip of the Commonwealth means approximately £3,448,----000 in the season's monetary realisations. Actually,, therefore, the prospective value of the wool grown in Australia has risen from £13,000,000 to £14,000,000 since the lowest point of this season's sales. The prices ruling for wool in the Commonwealth depend to some extent on how long the abnormal exchange rate lasts, as it places the parity of values locally above those ruling overseas. . The world parity of rates for merinos is now higher than at any time since the end of September last. But, it is below the basis of the preceding season. Welcome though the rise in prices has been, a correct perspective should be kept on the position. On current world basis of prices, the Australian clip is worth slightly more than half what it was two years ago, and the country, to keep on abound footing, should base its calculations on.that level. AUSTRALIAN CLEARANCE. The following statement, compiled by the National Council of Wool Selling Brokers of . Australia, covers the receipts of the 1930-31 clip into store, the total disposals to the end of March, and the balance in store in each centre then awaiting sale: Receipts, 2,263,540 bales; disposals, 2,083,234 bales; 'balance in store, 150.312 bales. These returns show that Australian growers will commence selling this season with practically no carry-over.