WOOL MARKET

Manawatu Standard, Volume LV, Issue 89, 13 March 1935, Page 7

WOOL MARKET

THE LONDON SALES. DECLINE IN VALUES. DESPITE' BRISK COMPETITION. (United Press Association—By Electric Telegraph.—Copyright.) Received March 13, 9.45 a.m. LONDON, March 12. When the wool sales opened Merinos were at par to 5 per cent, decline. Crossbreds showed a 5 to 7j per cent, decline. A total of 8766 bales were offered, including 3643 New Zealand and 1046 Australian. There was a poor selection and, the approximate sales of Australian and New Zealand were 3804 bales. There was a large attendance and a brisk general competition, especially from Yorkshire, with a strong undertone. The market was firmer than was generally anticipated. Compared with the February closing rates, Merinos, greasy fine, were unchanged; medium to low, declined 5 per cent. Crossbreds, fine, declined 5 to 10 per cent, and medium declined 5 to 7| per cent. Coarse was par to 5 per cent, decline. New Zealand greasy crossbred, branded Katutaue, reached 91 d and averaged 7gd; slipe halfbred, branded Gear, reached IOJd and averaged 10sd. DANGER TO WOOL. THE GERMAN SUBSTITUTE. AUSTRALIAN OFFICIAL’S VIEW. Received March 13, 10 a.m. LONDON, March 12. Afr Heath, the New South Wales Government representative in London, on his return from the Leipzig Fair, issued a grave warning as to the extent of Germany’s development of the substitute called Woolstra, which is a mixture of wool and board pulp containing wool in percentages varying from 30 to 50 per cent, according to the cloth required. “Germany frankly wants our wool, but is unable to arrange credits to buy on the former scale. There is no antagonism towards Australia, but the merchants point out that they sent us only £2,000,003 worth of exports for the year ended June 30, 1934, and took £7,250.000 from Australia. Nobody pretended that Woolstra was as goo<l as wool, but I was strongly impressed by the extent to which a nation under stress would use it willingly- The merchants say that if supplies were available they could be sold six months ahead.

“I do not want to create alarm; there is no great immediate menace, hut the seeds of a real menace are there. Those disparaging Woolstra ought to remember the quality of the early rayons and artificial silks,” said Mr Heath. SALE AT TIMARU. RATES FAIL TO IMPROVE. Per Press Association. TIMARU, March 13. The second and final Timaru wool sale of the season was held this morning, when an offering of 22,158 bales was committed. There was a full bench of buyers, but the values for the first two catalogues did not show any improvement on the rates at the recent sales. The wool opened uj> very dry and discoloured, a large quantity being yellow due to the seasonal conditions —a wet spring .followed by phenomenally hot weather causipg sweating. The wool was also a shade coarser than usual. Super Merino ranged from 9d to 133 d; average Sid. Super halfbred, 10jd to Hid; average, SJd to 9)d. Three quarter-bred, super 9d; average, Bijd. Crossbred, 9Jd to 103 d. Corriedale, 93d to 103 d. Merino pieces, 8d to 9d. Half-bred pieces, 8d to 9jd. Three-quarter-bred pieces, 5d to 6d. Crossbred. 8d to 9Jd. Halfbred necks, 8d to 9(d. Three-quarter-bred necks, 4jd to Cpd.