THE WOOL MARKET

Evening Post, Volume CXXIII, Issue 130, 3 June 1937, Page 12

THE WOOL MARKET

AMERICAN INTERESTS

Winchcombe, Carson, Ltd., Sydney, report (May 24) that the wool market shows a slightly better tone than during recent weeks. In itself the wool marketf has been ths basic strength to more or less maintain its position.. On the Continent, in Great Britain, and Japan the statistical position from sellers' standpoint has rarsly bsen stronger than at present. In the United States, liDavy importations of wool have rebuilt the quantities on hand to some degree. At the close of Malxh last the stock o£ apparel wool held by manufacturers and dealers was 212,000,0001b, being 24,000,0001b more than a year previously, but some rebuilding" in that regard was necessary as at the end of 1936 the quantity of wool held was the smallest recorded for 17 years. At mid-April an American report stated that orders for men's wear fabric on hand in the States were 55,000,000 yards, being 15,000,000 yards greater than twelve months before. New business has not been as readily secured as some months ago,'particularly in ivomen's goods. The United States Government has been taking steps to check any tendency to a speculative boom. That effort has had general effect on trade, but its objective is desirable. Traders, in addition to wool growers, will gain more benefit from the continuance of moderate-prices for their products than from a short period of spectacular figures, followed by the inevitable "burst" resulting in monetary losses and months of uncertainty until confident feelings are restored. No appreciable increase in the United States clip is probable.during this year and it is likely that America will again be an important influence on the world's wdol markets. Her present negotiations with England respecting the elimination of the tariff barriers which are hindering world trade raise hopes of more- sustained orders for Australian wool from the States than were experienced during the ten years prior to the current season.