WOOL MARKET

Gisborne Times, Volume LXXIII, Issue 11829, 10 January 1933, Page 2

WOOL MARKET

NEW YEAR: OPENS IN CHEERFUL SPIRIT

HOPE OF SLOW GRADUAL RECOVERY (U.P.A. by Elec, Tel, Copyright;

. LONDON, Jan. 8.). .Mr W, P. Doveroux, the Australian Wool Council's representative,- reports. that most of the European wool markets opened the new year with a cheerful a pirit. ‘ Signs of returning . confidence in Great Britain and Germany and in other directions, gave rise to the hope for a slow, gradual recovery.. Users of merino and fine crossbred tops in Yorkshire are more disposed to buy, and fair quantities have changed hands, topmakers quoting higher prices. Fine crossbred yarns display a tendency against buyers. Lower grades are neglected and prices are a shado easier, duo to the slack Continental demand.

The position in Franco i s unchang-* ed. Deliveries of wool have been .delayed duo to. the dock strike. The futures markets in Antwerp and Roubaix are quiet. Quotations have advanced from 5 to 7J- per cent, in tho past fortnight.

SECOND NAPIER. SALE GISBORNE AND EAST COAST CLIPS TOTAL OF ABOUT 4600 BALES Approximately 4000 halos of Gisborne and East Coast wool will be oL fored at the second Napier sale.of tho season, to open at 9 a.m. tomorrow- The order of selling is as follows: H.B. Farmers’ Co-op, do Pelichet, McLeod and Co., Williams and Kettle, Ltd., Dalgety and Co., Ltd., Murray, Roberts and Co., Ltd., Hoadley, Son and Stewart, N.Z. Loau and Mercantile Agency Co. Offering of district wool by Gisborne firm's are as follows: Do Pelichet McLeod and Co. 062 Williams and Kettle Ltd. ... 388 Dalgety and Co., Ltd- 802 Murray, Roberts ... GOO Loau aud Mercantile 1200 Common, Shelton aud Co. ... '503 G.S.F.M. and M. Co - 478 Total 4633 The totals shown for the Loau and Mercantile, also Murray, Roberts and Co;, are only approximations, but correct to within, a few bales. . JAPAN’S WOOL BUYING. EXTENSION- OF HER TRADE. SYDNEY. December 29. Winclicombe, Carson, Ltd., reports: Japan’s consistent wool-buying activity has been one of the most prominent features of this season's wool market. During the first five months of tho season slie took ‘212.000 halos from tho Commonwealth. ft looks quite possible that her record P ul * chase of 628,000 hales in Australia last season will be eclipsed during the current soiling year.

The depreciated value of Japanese currency, which gives foreign money increased purchasing power in Japan, has given a. decided fillip to her export trade in manufactures. She is experiencing similar trading circumstances. to those seen in France when the franc fell decidedly in value. She is selling remarkably increased quantities of cotton piece goods and artificial silk ill India and other Eastern countries, the effect of which has been to give a large amount of work for Japanese hands, providing them with the means to buy apparel made from Australian, wool. Japan has-, in addition. decidedly increased her export trade in woollen goods with India, the cheapness of them being their groat attraction. She has also invaded the Indian market with knitted woollen goods. With her protected home market and development in her foreign trade in woollen products, strong competition from Japan looks assured for the season’s sales.

N.Z. WOOL SALES. 1933 Bales. Jau. 11 Napier 30,000 Jan. 16. Wanganui 30,000 Jan. 20 Auckland 30,000 Jan. 25. Christchurch 25,000 Jan. 30 Dunedin 30,000 Feb. 2 Invercargill 30,000 Feb. 6 Tiinaru 20,000 Fob. 10 Wellington 30,000 Fob. 14 Napier 25,000 Feb. 17 Wanganui 30,000 Fob. 23 Christchurch 25,000 Feb. 28 Dunedin 30,000 Mar. 3 Invercargill no limit Mar. 9 Wellington 30,000 Mar. 13 Napier 25.000 Mar. 17 Auckland no limit Alar. 23 Christchurch no limit Mar. 27 Dunedin no limit Alar. 29 Timaru no limit Apr. 3 Wellington no limit Apr. 6 Napier no limit Apr. 10 Wanganui no limit