BRADFORD WOOL TRADE

Lyttelton Times, Volume CXV, Issue 16606, 18 July 1914, Page 9

BRADFORD WOOL TRADE

[From Ova CorcnKßroxniwr.] BRADFORD, June 12. The market has not shown much change during the past fortnight. The upward movement in merinoes and fine cross-breds has apparently exhausted itself, for values have reached a very I high level.. Merino wool is exceptionally scarce, and American'buyers who i have- been.endeavouring to secure supplies have only been able to pick up 1 an odd lot here and there at extreme i prices. • Such stocks as exist are in 'very small compass, and are held by I topmalters to meet contracts already I entered into. New orders are notour j couraged, and high protective rates are i asked ivhere,,users,eudeavour to buy—la rare event,-owing to the cautious policy of both spinners and merchants, who only enter the market for urgent requirements. -The scarcity' and dear- . nes3 of merinoes is naturally diverting I attention to fine cross-breds a& a pass- ' ablesubstitute, and there is a fair demand for these sorts, j Tlie position- of medium and coarsei cross-breds is rather different, and here the: scarcity'of supplies, though still a factor to be reckoned with, is by uo means so acute. Last we< k—-a holiday .week—prices were firm, but this week it would bo poKsf&le for a buyer to secure a concession. This is due to the

ir quietness of burine.*s during the past few weeks, and''not-to* any •'•casing of >6 raw material rates, whieh': are indeed well maintained. American operators ::,- nro jn evidence, and ar.e inking,up nifs,. ftcient quantities' of wool to h:j?!:e Held-. r- y-rs 'adopt-a ;fir.in;'attitude. I ''.'.Still," there 3 f <-"o;-7's no' justification for a 'rise, and it isnouhl -Ije noted that since the; dc)t dine in March v'alups have tre'i practically .urchanwd for two months. It 16 ; s nn old savin? in Bradford ./that if prices are -not up they are going [0 down, and if the en sJer, : tone continues average prices; ' will, have, io he shaded off to the extent of.a farthing., ..,-.., t The tone of th?.market d-?a-pß<vfP i.ti;.j , strength, the furihe-on» g?ts -.from the raw material. As ha-' bo-m indicated, wool is forcing, the market all the way "■ through, and the presence of American '» buyers is one of the/ principal causes ' r for this state of affairs. -Spinners are ■'. not in a satisfactory, position. Botany c 1 yarns are being taken up- nicely en■ old ?■ contracts,' but orders', .are. difficult • to obtain, and a fair amount: of machinery is standing. Cross-bred spin- :" ners cannot obtain adequate margins.' '" and aro - open to make concessions for s orders with particulars, down, in order s to keep their machinery running. These, however, are scarce; indeed, particular's are difficult't-o'obtain oh did, s orders. ' ■ i p - The .'famine :in merinoes plaiies values s for these sorts in a category .".by them-. r selves, and it is difficult to see how there can be any relief until further s supplied of raw material are available, t whilst it is'certain that.the first shear? j fngs in Australia will be eagerly snap--3 ped up to make up,fpr_.the deficiency . -in the,old clip.,,. ,The, increase .in the . Australasian clip, which.' looks like : ,coin-. 3 ing out at 200*000, bales, has been rendered' insignificant by the dictates of [ fashion and American operations. .In cross-breds, however, there is no ; doubt that values would have been ma- • terially lower but for American opera- . tions.. Trade • generally is on a. lesser : scalo than last'-year,- not only in this : country but-abroad; yet values are on : !' a par with last year. .The effect of • American' takings is. indicated in tho • I Board of Trade returns showing the ; exports from this country. For tho 1 five months ended • May the total exports of wool manufactures of all kinds were ~ £15.'915.000, : . compared with £15,510,000 in 1913, a record year; The detailed exports are' only available for worsted' yarnsy worsted:' tissues .and woollen tissues, 'but'-' the' 'takings of America for these' -three ■'- have -been £1,539,000, compared with £409,000 |ast year, so that, excluding these, items, the exports to countries other than America have been below £14,376,000, a decline of £725,000 compared with last year. Another significant -feature-' is that ' this country has imported 66 million lb less:■ foreigtl and colonial. wool : ahd exported 57 million lb more, the balance of 253 million lb thus showing a decline of 123 million lb compared with last yoar; whilst the exports of domestic wool have been 21 million lb, coinpared with 12 million; lb last year. So far as-the exports of -manufactures go, tops liave exceeded Inst year, which was a reoord 'one.; whilst worsted yarns - aro about the same as tho very meagre totals a year ago, and' tissues show practically no increase. A good" deal of interest is being taken in the marketing of the domestic ' clip. Early shearings in Ireland have realised about id less than last year, but, on the other.,hand, one or two minor sales of finer Down wools have established a basis about on a par with a year ago. In the case of the deepgrown Wools,American . competition is not likely to be felt, and staplers are fully expecting to buy a little cheaper; but the fine sorts are likely to experience a better demand, and are in short supply, so that growers will reap the advantaee. The following were the average prices ruling on the market days named :

■■■••■ ' May. June. June. June. | 28 4 8 11 J d. d. i d. ■ d. Merinoes— 70's ... . S3 33 33 33 60's 6UDer .' 32 J t 32J 32i 82J. 60's odinary .' 31' 31 31 "81 60'r B.A. . 801 30230JS 302 Cross-breds— ' 68's ■i - 261 26V %k 26t ' 56's • . .. ■ . 23* 23iJ •23? S8J' 60's . . . 2Pi m 205 ■20J id's .. m 17i 17i 17J 40's ■'•■ . '■•,' . i<h 16^ 16* - 161 Sd'a ... . 1GJ iajlei ' U\ •12's ,, • . . . 16 16. 16 10 Lincoln—• Hopjofs . ; i?.i i$fc ' 32} 12>. Wethers » .' 12} '. 13i" 12V 121 ' Kent wethors . . 13£ • 18* 13* 131