WOOL CARRY-OVER

Evening Post, Volume CXIV, Issue 50, 27 August 1932, Page 16

WOOL CARRY-OVER

CROSSBRED SURPLUS

PROSPECTS FOR NEXT

SALES

While the outlook for merinos and all fine wools is encouraging, that for the coarser wools is not promising. Sydney's first sales of the 1932-33 season begin next Monday, and it is expected that prices will show a marked improvement on the average of £10 18s..5d:per bale (Dalgety's return). Japan is reported to be in the Australian market this season with requirements probably reading 600,000 bales, but this is likely to be for the finer wools, and Australian production of merinos is 72 per cent, of the whole. Australia will start its new selling season with no carry-over worth mentioninii and start it with wool of a description that is enjoying popular favour. It would be most satisfactory to be able to say the same of New Zealand. From one of the leading authorities in the New Zealand wool trade it is learned that on Dalgetys and the Government Statistician's returns there are 209,860 bales held over in New Zealand to-day, compared with 181,803 bales carried over for the 1930-31 season. This shows an increase this year m such wool stocks amounting to 28,057 bales. That is not the whole story, for the South American carry-over is taken at 270,000 bales (reduced to New Zealand average bale-weights), and this wool is largely crossbred. There is then a deadweight of crossbred or similar wools of between 475,000 and 480,000 bales of the coarser wools overshadowing the opening wool-selling season in the Southern Hemisphere, excluding South Africa. In these circumstances the comment made by the Bradford "Wool Record" on the unsold weight of wool cannot be- ignored. The "Record" of 2nd June remarked: —"Whether these erossbreds are left in the countries of origin or shipped to London, the stocks exist and are bound to have a depressing effect." To-day's cable dispatch from the Bradford tops market reports: "Rather more business in erossbreds."