WOOL IN 1907

Feilding Star, Volume II, Issue 494, 12 February 1908, Page 4

WOOL IN 1907

A GOOD START, BUT A BAD FINISH. REVIEWED, WITH COMMENTS. (From our London correspondent.) January 2. The past j r ear cannot be said to have altogether fulfilled expectations in the wool trade. Tho malign influence of the American financial crisis haa been entirely responsible for upsetting what was up to the middle of October a sound and prosperous .trade, but since, nothing but disaster and failing values has been seen. For the first nine months everything presented a_• pleasing and satisfactory condition of affairs, business was extremely good, prices in colonial merino sorts crept steadily upwards, and everything indicated a--real good time. In fact, 1907 promised to rank with the booming year of 1872, the textile industry never being better supplied with orders and machinery moro fully run sinco the Franco-Prussian war. Tho firs* five series of London wool sales showed satisfactory progress, a hardening tendency being observable, which culminated at the September series in a sensible rise of anything between Id to 3d per lb. That proved to be tlie liigh water mark of the year ; in fact, many users wero compelled to buy irrespective of prices. Australasia, during the past year, turned out its record c1ip— 2,090,000 bales— and yet, for all that, consumption has kept iully up to supplies, the trade being quite ready to entertain "new clip ;> wools from tho Commonwealth. It speaks volumes for tdio larger world's needs and the great consumptive capacity of the grade when such a big weight of wool has gone into consumption at a very high level of values; and it is safe to say, that but for tho paralysing effect of the American financial crisis, wool values today would not have been disturbed as they have. The totally unexepcted has happened, and to-day markets aro suffering through money tightness, but moro particularly on account of lost confidence. Crossbred wools and English descriptions have not fared in anything like -the sajno way as the fino merinos and these finish the year at tho lowest point. All along it has been patent to everyone that fashions were more largely favouring fine 6orts, no doubt the increased purchasing power of the community helping materially to lift finer and softer handling fabrics. It was at the 'last March series that New -Zealand crossbreds touched the highest point. English wools at no time have enjoyed a flourishing demand, and country staplers as well as Yorkshire users being badly beaten through purchasing the 1906 clip at excessively high rates, determined on a changed policy at tho last English shearing. A totally different spirit was manifest at all country fairs, prices showing a general fall of 2d per lb. Some growers refused to sell. They thought that dealers were playing with things in a rather looso way, consequently •they determined to hold for a higher price. Trade being » so good, and manufacturers all exceedingly busy seemed to favour that policy, or at least it did not look at if things would get worse. But those who missed that market have not been able to sell as well since. Good, bright .lustre wools, such as Lincoln and Yorkshire hogs, -have gono well to America, and so have halfbreds from tho Midland Counties, while good Sussex Down matchings havo also been liberally bought for Japan. Absence of big khaki orders for homo and foreign Governments Jias absolutely meant a considerable less consumption of crossbrods, there being at no time any strong call for domestic wools either for 'homo or foreign consumption. 'America, up to tho end of September, bought monthly a good average quantity, tho eleven months' ship* ments from Bradford totalling £881,---973 compared with £928,915 for the whdlo of 1906, and £1,101,946 in 1905. Since tho end of October prices for all qualities havo fallen. It is stated that the last New Zealand clip was hardly as bright and well grown as the previous one; but, -all the same, good prices were paid, and the wholo has been sold. Practically the whole of the N.Z. clip and part of the River Plate has had to be lifted by tho Yorkshire trade, and with tops and yarns, as well as fabrics, not going off so freely as in previous years, values havo suffered. The following table shows the full course of prices at tho beginning of the year, and at the end of each succeeding quarter:— I « * ■■*? § a 3 w © -S « 4 I I 1 1 d. d. d. d. d. Lincoln hoggets 13J 13* 12| 12* 11* Lincoln wethera 12i 12* 12 12 10* Yorkshire hogs. 15 15 13* 14 12* Yorkshire weth. 14* 14* 13 13* 11 North hoggets 15 15 13J 13* 12* North wethers 133 13| 13 12* 11* Halfbred hoggets 14 14 125 12J 12 Halfbred wethers 13* 13* 12i 12i 11* Shropshire hogs. 15 15 14* 14 13 Shropshire weth. 13* 14* 13$ 13| 12* Super Stafford hoggets 14 14 132 13 124 | Super Stafford wethers 13* 13* 13i 12* 12 Kent wethers 13* 13* 13 12J Hi Selected Irish hoggets 14* 14* 13 12| 12 Wiltshire Down tegs 16 15 14* 14* 14 Wiltshire Down Ewes 15| 153 14i 14 12* Devon greasy 10 10 8* 8* 8 Hampshire Down togs 15 15 14i 14 13* Sussex Downs 15* 15* 14* 14* 14* Cheviot hoggets Super 13* 14* 13 12 11 Scotch blackfaced 9 9J 8| 8£ 7* Turkey average mohair 17 17* 17* 172 171 Cape firsts mohair 17 17* 17f 17*J7* • Colonial Tops — ■■■■&- 1 s w <x> j2 S « C ft. £ g £.. ,g December d. d. d. d. d. d. 70's 28 29 29* 30* 28 to 27 64's 27 28 28* 29* 27 to 26 60's 26 27* 273 28* 26 to 25 56's 24* 24* 24* 24J 23* to 22* 50's 21* 22* 22 213 19* to 18* . 46's 184 19 18 17J 15| to 14J 40's 17i 174 16* 16* 14* to 13 36's 163 163 153 153 133 to 12*