WOOL MARKET.

Gisborne Times, Volume LXVIII, Issue 10722, 20 October 1928, Page 2

WOOL MARKET.

AUSTRALIA’S CLIP.

FUTURE VERY BRIGHT,

“NO RECORD LIKELY.”

CHEERFUL REVIEW BY SYD-

NEY FIRM

Information recently published concerning this season's wool clip in Australia gave rise to the impression that' something of . a record total of production was to be established. This, naturally, would tend towards the lowering of wool prices and it is quite possible that the lowered rates at the recent London sales were due, partially at least, to this report. Obviously this matter is of the , deepest concern to Now Zealand farmers and anything tending to discount that information will undoubtedly be welcome. Dealing with the subject, an interesting. circular, has been received by the Poverty Bay branch of the New Zealand Farmers’ Union from the well-known Sydney wool firm of Messrs Winohcombe, Carson, Ltd. A direct contradiction to the'reports of a record Australian clip this season is given in this communication, and generally the future of the wool trade is shown to be' particularly bright, if present 1 appearances carry any weight. Coming from such a reputable firm, the information undoubtedly is of distinct value and should help appreciably to restore confidence in the wool .trade which has been viewed with some qualms in light of the recent sales. Under date of September 12, Messrs Winchcombe, Carson, Ltd., write as follows: “At the ond of June last the quantity of imported wool on hand in the United; Kingdom was estimated

to total 489 million lbs. Tho figures showed a. decline of. 5 per cent, compared with the corresponding date of 1927 and were also less than at Juno 30, 1926. Consumption of wool in Great Britain for the first months of this year was greater than during the first half of 1927.

“From the standpoint of those who have wool to sell, the position in the British Isles looks healthy. Judging by the recent purchasing activity of Japan, Germany and

Italy, it is equally, if not more favorable, in those quarters. Limited supplies of raw material were tho cause of the strong market experienced generally over the past three years. They appear likely to exert the same influence during the coming season.

“Evidently some persons are anxious to prove that the Australian clip, of this year will he one of the largest- on record and will, therefore, make supplies of the staple more li-

beral. Information sent from some source to America gave the impression that the quantity of wool produced in the Commonwealth would be equal to the peak production of 1927 28. That impression demands contradiction.

“The most reliable facts available on which to nudge the size of the dip are the results of shearing to date.. . Maybe the sheep, .in some of the .late-shearing districts of New South Wales will give a better cut

of wool than those in the earliersheaving centres. But the fact remains that a decrease of eight to ten per cent has been seen in the number of bales shorn in July and August on great numbers of the properties in the west and north-wc-st of the State. Even on pastoral holdings in which shearing is now proreeding in New South Wales mam owners advise that the stock are cutting lib to 2!bs less wool than in 1927. About half tho sheep in Australia are pastured in New Sour',. Wales. Before shearing commune*-:!

the general opinion was that lioaviei weights of wool would he shorn per

head than a year before. Experience has not confirmed that idea. We are doubtful if the origina] estimate of only a 2 per cent, falling oft in the New South Wales clip will prove correct. A greater decline appears likely.’’

TOO MUCH PESSIMISM

HOME BUYERS’ PROPAGANDA

Commenting on llie position of the wool trade generally, a prominent Poverty Bay farmer points one that far too many pessimistic reports are circulated. Home firms, he says, supply considered reports to the Press, generally designed, if possil ,'e to force down the .prices which need he paid to the farmers for their wool. These 'reports wore all prepared from the buyers’ standpoint and little of the reverse of the medal was heard. That position should be remedied, the farmer continued, and a move to see that wool prospectwere fairly and accurately reported on was now under consideration farmers of the district. BRISBANE SALES. FRANCE TAKES OVER 40 PER CENT OF THE OFFERING. The Brisbane wool sales, which commenced on September 18 were spread over three days, and competition w,as keen and general from the commencement to the close. French buyers were the principal operators, Japanese buyers being the second. Rirgest buyers. it was noticeable that, competition. from this section was. only for the well-grown wools, these buyers last week neglecting the dusty .wools which they have been buying in the past. Germany was a strong force in the bidding also, and Bradford also secured a fair weight of wool for this section of buyers. Russia \vii s much quieter than usual, and was buying tepes of fleece wool which we have not seen her buyers secure before. Strange to relate, these Buyers did not operate on scourcds at all. Useful competition was also forthcoming from representatives of Switzerland, Italy, Belgium, America and local bi yrrs. Iflie destination of wools secured at auction in the large lots is n» follow : France ... .... ... 15,166 bales Japan 5,474 ” Germany 4,902 ” Bradford 3,418 ” Russia 1,379 ” Switzerland 1,224 ” Italy ... 1,047 ” • : Belgium. ... ... ... 828 ”, Local and N.S.W. ... 518 ” America ••• 162 ” 34,120 ” Withdrawn at auction 9,308 ” 43,428 ~ BRADFORD TOPS MARKET. nutted Press Assn. by El. Tel. Copyritr'ht' ' CAuatrallan Presß Association.) (Received Oct. 19, 5.5 p.m.) LONDON, Oct. 18. At the Bradford tops market me r rinos arc firmly held. Crossbreds are easier but the turnover is limited. Sixty-fourg are quoted at 46d'i 60’s 43d,' 56’s 33-ld, 50’s 28d, 46’s 231 d, 40's' 221 d.