WOOL IN 1911.

Hawke's Bay Tribune, Volume II, Issue 48, 9 February 1912, Page 3

WOOL IN 1911.

MFSSR<. BALME ,v ( O UFA iI AX INCREASINfI DEM IN’D FOR FINE--11A1RED PAHL FJS. London. Dee. 2:>. 1911. Atlhongh prices have been maintained throughout 1911 at a level which should orove remu'.v.?iatt,-e to wool-growers, the result of th? year’s working has been somewhat disappointing, inasmuch as the anticipated revival in the Amer:enn demand, which has been confidently looked for in the spring, did not come off until November. Consequently tie' market has been in a great measure deprived of th' support whieii. under normal conditions, is available from tins section of the trad 1 for t;: 1 better U'seriptions of merino and crossbred greasers. Messrs. Baltnc and Co. go on to say, however, that consumption in Europe, particularly in England, has been well maintained, and sufficiently 'vigorous to absorb available supplies without any material modification of values, and this result Ims I e >n achieved in spite of uneasiness nausea during tlie late summ-r and early autumn by European political complications, as well as 5v industrial troubles in this country, and to a minor extent on the ( ontment —a fact which affords a striking illustratiftn of tho increase in the coil sumption of wool darir.g recent years, ajid t’-.e narrowness of tho margin which exists under preseiit conditions of production for any further expansion in the requirements of machinery. M’HAT 18 WANTED. A feature of th? demand for merinos d'.iviug the year has; hecu the keenness Gth "'which* really line-haired parcels have l/oeu sought. X ear by year tno -u;>ply of these grades is becoming wore limited, so many of the Australian growers have turned their attention tn the production oi a larger and heavier fierce of’ a rougher quality than formerly. This change Inis given the Souta Alrican farmers their opportunity, ami many have uuick’y availed themselves ■of this opportunity, with tho result that of recent years, by careful selection and breeding, they have effected a vast improvement in the quality of their wool. Ind'ed, so great has been the improyewmt in breeding and preparation for market of a number of clips grown in the more favoured districts, that some spinners rely nowadays to a largo ex-t.-ct unon the better d'scriptions of South African wool for then' suppiy oi soft fine-haired merinos. Among crossbreds, tho supplies of medium sorts continue to increase on all sides, the Romney being the fashionable sheep for breeding from. Consequently coarse lustrous wools (36’s to Id’s) of the Lincoln typ? from New Zealand and South America are getting sr-areer, and have realised steadier and relatively higher prices than the medium grades (44’s to 46’s). the supplies which have been somewhat excessive. SUMMING UP. Messrs. Balmc and Co. detail the history of ‘events as they occurred month by month during lull —for instance, January registered a heavy fall for “ tops ” on the Continental terminal markets, and confidence was not restored till March; April sail the upward movement checked when it was realised that the American section of the trade was not likely to operate to any appreciable extent ; in the circumstances. prices at the May auctions were a good deal lower. A strike in Bradford interfered with business in June; a succession of lahoi’.r disputes caused considArable nneasiufs.s during August and September; tne usual “ hear ” movements in “ tops ’’ tool; place in October, and unsettle! the market for a time, but recovery was accelerated by a revival in the American deinand for crossbred wools. Ine result of the year’s operations has been to establish a slight decline in the quotations of all qualities, amounting to 5 per cent, on merinos and fine crossbreds, 7.1- per cent, on medium crossbreds, 5 per cent, on coarse crossbreds, ■5 per cent, on South African greasies, and 71 per cent, on South African snow-whites.

FUTURE PROSPECTS. During 1912 no augmentation in the New Zealand clip is looked for; indeed, according to the more recent returns, Messrs. Balme and Co. think it probable that this year's exports will be slightly less than those for the previous season. On the whole, prospects for 1912 are favourable. Of course the dry summer of 1911 has somewhat prejudicially affected trade in Europe .which has also been hampered bv ever-growing demands of labour. At the same time, with the increasing spending pow er of the musses, the d inn nd lor woollen goods is continually increasing. In these circumstances, with a more or less stationary supply of merinos, and the pi-evalence of a moderate scale of prices, there seems every probability of a full mantenance of quotations, as it has been proved during the past year that there is no surplus of the raw material to meet ■my further increase in consumption, after normal requirements of machinery have been satisfi-d. Supplies of crossbreds are likely io be -considerably larger than last year. Inn, judging by the strength oi' American competition for crossbreds during the past two months, it appears reasonable to expect that the increased demand f>om that quarter, where stocks of imported wool are unusually low. w ill at least be sufficiently vigorous to c.-mse quotations to be maintained at their jin-sent levt) and possibly placed on a higher basis. SHEEPSKINS. The result of fluctuations during 1911 has been to establish a general decline compared with the rates current at the end of 1910. Messrs. Balme and Go. write that full-woolled merino sheepskins are 71 per cent., fine crossbreds 10 per cent., medium crossore Is 121 per cent., and coarse crossbreds « V Jiei cent, lower; among half-wooiled sort*, merinos have fallen 5 per emit., ami crossbreds 10 per cent., while land x are 7per rent., and pelts 15 per cent, cheaper. During 1911. New Zealand had catalogued at the London sales 20,831 irdes of skins, compared with 11,678 during 1910. Tho total offerings for 1!’I 1 h'tini .all sources w-'fe 117,929 bales. again~t the 11’2.111 bales during 1910.