WOOL MARKET

Evening Star, Issue 22798, 5 November 1937, Page 6

WOOL MARKET

IN STRONGER POSITION PRICES BECOME ATTRACTIVE The brighter tone recently seen in the wool market indicates two favourable influences, says the latest report of Winchcombe, Carson Ltd. Consumers who hav delayed making purchases pending prices showing stability aro now satisfied that a safe working level lias been readied. In addition, numbers of millmen now find it necessary to buy raw material in order to cover contracts for tho apply of manufactures. Business in tops and yarns in Yorkshire has improved. The latest quotation for Cl’s merino tops in Bradford is 32d, that rate being slightly below the price ruling in late October a year ago, and about on the basis of October. 1935. The 1935-36 season was one of the most stable selling-periods ever experienced. From October to June, 1936, rates for 64’s tops ranged from 32d to 33d pur lb. The season’s Australian dip averaged 14.22ci per lb, good class catalogues of spinners’ wools in Sydney averaging up to 16$d per lb, with higher class offerings averaging 18d to 20d per lb. Trade in woollen goods certainly prospered during that period, and a ready demand was constantly maintained for the sheep’s staple. Maybe, however, with increased employment and higher wages in many countries the turnover could now be sustained at somewhat better figures. Welcome though prices on a very high basis would be for those who obtained them, it is judicious to recognise that wool is not in tho almost unassailable position in regard to apparel which it occupied some years ago. Duo certainly largely to financial difficulties, Germany, Italy, and Japan in particular, but also other countries, are producing blending fibres in increasing quantities. Wool has more or less to meet those, fibres on a competitive price basis. The higher the price l of the sheep’s staple, the less or it German, Italian, and Japanese millmen are able to import. High returns for one season are not tho paramount concern. Australia grows wool year after year. The security of the capital invested in land and stock and continuously satisfactory returns from it, can only be preserved by finding a ready sale for the clip season after season. Moderate rates for wool are unquestionably more likely to keep the sheep industry in healthy financial order. Spinners’ wools will shortly be offered at Australian sales in larger quantities. The buoyancy of prices for them will largely depend upon demand from America. The United States imported supplies in larger quantities Inst season than for many years, Australia exporting 263,805 bales to that quarter during the 12 months. Business prospects in the States are not as favourable on this occasion. Unsettlemont prevails, and trade in woollen goods has felt its effects. Consumption at tho mills has eased. At June 30 last American stocks of apparerl wool were 142,000,OOQlb, being 5.000,0001 b less than a year before, but that position is offset by reduced turnover by manufacturers. A fair American demand for good length spinners’ wools is probable, but present indications do not point to it showing the unusually large and sustained volume of 12 months ago. Yorkshire and the Continent purchase the greater part of the Australian clip. Prance, particularly, appears likely to take larger supplies than in 1936-37, and the Pnodish and European inquiry generally shows signs of accounting for excellent weights of the raw material. FRUIT AND PRODUCE GRANGES SCARCE LARGER SUPPLIES OF GREEN PEAS AVAILABLE Heilly’s reports that business in the local fruit and produce market during the week has been _ satisfactory, with fair supplies of all lines available. Good quality apples are in better deri mand at increased values. Dessert pears* are also meeting with a good demand. There is a fair inquiry for cut flowers. Oranges are now getting in short supply, only small sizes being available. A small shipment of Valencias is arriving by the Maunganui on November 9, and further supplies aro due by the Waikouaiti about November 16. New Zealand lemons have a better inquiry, values being more satisfactory. A good demand nas been experienced for ripe bananas. A further shipment of Samoans is due ex the Matua next week.

Transhipments ex the Mariposa at Auckland consist of Californian grapes, grapefruit, and lemons. Unfortunately a fair proportion of the Mariposa’s shipment was carried on to Sydney. Larger consignments of Christchurch and local hothouse tomatoes are now available, and values remain firm. Green peas are in better supply, with a satisfactory inquiry. New potatoes are coming to hand and meeting with a good sale. Asparagus is in shorter supply, and prices have advanced. Consignments of gooseberries are now being received. Heavier consignments of cabbage, lettuce, and cauliflowers are coming to hand and meeting with a satisfactory demand. Values for old potatoes have firmed very considerably, and supplies are now difficult to secure. There is still an inquiry for seed potatoes, supplies of which are practically finished for the season. Canadian onions have firmed in price. Whitebait has been scarce, values having advanced considerably. The egg market remains firm, a good demand being experienced for preserving purposes. Pair supplies of poultry came to hand for the weekly sale, values being satisfactory for all classes. METAL MARKET Press Association—By Telegraph—Copyriglv LONDON, November 4. (Received November 5, at 1 p.m.) Copper.—Standard, £4O 8s l}d per ton; forward, £4O 14s 4-}d. Electrolytic.—Spot, £45 10s; forward, £47 10s. Wire bars, £47 10s. Tin.—Spot, £l9B 2s 6d; forward, £197 17s 6d. Lead.—Forward, £l6 18s lid; spot, £l6 18s lid. Spelter.—Spot, £l6 3s Hid; forward, £l6 8s Hid. Silver.—Fine, 19 13-16 d per ounce; standard, 213 d.