WOOL PROSPECTS

Evening Post, Volume CXVIII, Issue 114, 10 November 1934, Page 12

WOOL PROSPECTS

COMING LONDON SALES

v/pRISE EXPECTED

-The Bank of New Zealand Produce Depitinjent has been its London ois|(S>;under date Xofettbwv#''that, : i,t is gen«iiily? expected that, atHtteSnexti series 'of'^lw^febnimencing on NoVemßer~^2o,' prices' Sf|cS',infetjnoß will advance Id per lb, fine crbsab'rj(l^%d per lb, and medium and coarse■'cFofebfed;i i %d per lb. ■"■; Dalgety and Cotoparry^liimited, report:— Sales open onV/IJOyenibe^ 20. Market active; .anticipa^;: ffij^ToVeraent about 30 per cent, all ro^ftd/As^qmpare'd with..closing rates of, Sep.t6abeT|'Series r '; ENCOu|Htis SIGNS Reference ■wqajcjoade, in this" column, on Thursday ;last; rto^the;;inipro'ved outlook . for the wool nljstJtetKiir consequence, possibly, of impro^icLiC.ontinerital. inquiry^ Bradford mandf&civtj&iafhdve -ndyr .with- ' drawn their embargofon export of tops and yarns to Gerniatiy-44ui impotant customer for these sem'pmaiiufaetures. Since then the sales in Geelbriß, Victoria, have shown the. market to,';tje stronger than for, some weeks past, -BfitlV,-.arii Australian record price of ZO&d-estabh'sied- for merino and 17^4d paid forvqqniebacks: .'.'—-". The Bradfoid/ ! td'pS.;;taa'rket closed "very ' firth" this wefek,-';fdr;' all business for delivery, early in^'iiext year, and a rise on the week of^iperlb for 70's, %d for fl4's,:but'priq(S;oß; r pther.and lower counts "unchanged. f^ff'Js-ii-1 ' ■ . The prospects ' Sot the coming JSewZea- . land sales, beginning; with .Auckland on . November 27, fdriojved:;by Napier on December 3, antfCySfellirigton Yon December 8, are fair. 'Kt&b.dori. sales .beginning a week 'earlier thatt-;.th^''New -Zealand offerings will riVeal; the' condition of the market. But Japan• in Australia and New?; Zealand. is'iari: element lacking in the tqnjlon; market. '.It remains to be seehVwhat" bearing it will have tin the New series of sale's when 'they begin, i^fr," u f; • ■■, JAPANESE StiPPPRt. ' Japan's consumption 6fuTaw ; wool in-creases-year by year and;j/it is .expected that for 1034-35 it may reaejl^tb-.behveen 700,000 and 800,000 bales. On the-other hand Japanese domestic, buying.poWer for woollen goods, remains Mow at "iijanufacturers' latest quotations. If the Japanese themselves are in a position to meet those prices and export of woollen goods'by , Japan is not increased, then Japan may< not be so conspicuous a figure in the New Zealand wool sales as formerly. ' With respect to the New Zealand sales the present sensitive condition of the world's market for the coarser wools does I not-,appear to -warrant such reserves being placed pn'the wool as to retard business, ■The New Zealand 'Wool Committee repra- - Kentative of all interests—growers, brokers, and buyers—has fixedithejinaximUm oifer-! ings fofVihe .first ; 'six sales; vNdveniber-De-, nember, at 140,000 bales. This is a fairly heavy weight of wool in present circumstances to put on to'the market in ' a '■ period of 22' to 23; days. But if- buyers are keen and growers are prepared to send in to the limit and to meet the mar- ' ketth.en the "quantity may not, appear s'p formidable as it does at the'moment with the outlook for disposal of our New Zea-, land coarser wools still rather uncertain.