OUTLOOK FOR WOOL.

Manawatu Standard, Volume LVII, Issue 155, 2 June 1937, Page 4

OUTLOOK FOR WOOL.

STRONG HOME MARKET. SMALLER STOCKS HELD. Wool is strongly situated in Great Britain, and four months will elapse before any appreciable supplies arrive from the primary producing countries, states tlie latest review of Winchcombe, Carson, Ltd., Australian woolbrokers. In Bradford prices for tops have been maintained, 64’s Merino bein'* Quoted at 39d. That basis has been urichahaed for tlie past five weeks. Meantime values for local fotlmongered Wools in Australia have receded 7 2 per cent. They are chiefly. dependent upon Continental buyers for their sale, and tile market for tops in Europe has fluctuated.

The offerings available for London sales this year aro considerably smaller than 12 months ago. Less opportunity, therefore, exists to replen’sh stocks from that source. At the close of February the quantity of wool on hand at public warehouses in London and other p6rts and at depots in Yorkshire was 13 per cent, less than at thq corresponding dato a yeqr before and 29 per cent, below 1935. Those figures indicate why sellers Of tops in Bradford have firmly hold to the figures at which they are prepared to sell their product.

’This month’s sales in. Sydney and Brisbane will supply a definite guide td the trend of rates'for tho sheep’s staple. The greasy wools which will bo submitted- will command attention from a much more extended range of buyers than tho ’ follmottgered wool now available. Japan among other is likely to bo a purchaser. That country’s imports of wool during the 13 months ended January 31 last wore approximately 117,000 bales less than in the similarj previous period. Increased purchases made in South Africa, New Zealand and South America did not fully compensate for tho smaller quantities obtainod in Australia. Active Japanese buying in the Commonwealth from January onwards has no doubt increased raw material stocks to some degree, but- further supplies are likely to be needed. A small increase in tho quantities of Merino wool available for consumption is probable during the coming season. South African flocks are “recovering in number. Sinoo 1934, tho number of wooded sheep has increased 4,300.000. The production of South African wool during 1932-33 wan in tho vicinity of 1,000.000 bales, but was down to 680,0000 bales in 1935-36, and is likely to be in the vicinity of 000,000 bales thii season. Judging by expezisiloes of this (selling year, however, ample scope for the absorption of tho wool exists.