SOUTH AFRICAN WOOL

Evening Post, Volume CXXIV, Issue 26, 30 July 1937, Page 12

SOUTH AFRICAN WOOL

THE COMING CLIP

Winchcombe, Carson, Ltd., Sydney, reports:—We have received cable advice from our Port Elizabeth correspondents that the South African clip for the past season was 864,000 bales, and 1000 bales were in store unsold on June 30. They estimate that, due to droughty conditions, the coming season's production will only about equal the past year's clip, though it is possible some fractional increase will be recorded. -

The South African position enhances .the strong statistical situation the sheep's staple occupies. The country's production has shown some recovery since 1934-35, but is still over 100,000 bales less than the peak point of the clip in 1932-33. Merino wool is, therefore, far less plentiful than a few years ago. Consumers are definitely dependent oh the new season's clip for supplies. The quantity carried over in South Africa and Australia is negligible, and production in both quarters will noi show any appreciable change on the past year.

The favourable situation in producing countries is supported by similar circumstances st manufacturing centres. Successful June-July auctions in Australia and London bear evidence of the need for raw wool. A revival in French demand, due to devaluation of the franc, has been a feature of the sales. The monetary movement mentioned is expected to give opportunity to increase France's exports. French inquiry was keener for greasy, wool, and has also of recent weeks been much more active for local fellmongered wools privately and sheepskins.