CROSSBRED WOOLS

Nelson Evening Mail, Volume LXXII, 30 December 1938, Page 8

CROSSBRED WOOLS

MARKET CONDITIONS “INTERESTING” POSITION LONDON. 28th November. Discussing the coming wool sales in New Zealand, the "Yorkshire Post" says that it is doubtful whether, in recent j years, the crossbred marketing season i has opened amid more interesting ; conditions than prevail at the moment. | Although statistics show the aggre- j ■ cate wool stocks in the United ] I Kingdom are above average for this

• | time of the year, the position of crost--5 bied wool is exactly the reverse 1 Merino wool is in more generous supply, consumption of which has re- | cently been below normal, while coni sumption of crossbred wools has been , brisk , ' This v tate of affairs has been deI veloping gradually in the last few ’ j years, it is stated, so that conditions i in some directions may be described as ( 1 acute During the past year the J trade bat seen a wirrn—frm «>f ab- ’ normal phases of demand, both in England and on the Continent, with ' j the result that reserves hnve been de- [ i pleted considerably The demand for Jubilee and CoronaI tion decorations, an improved call for crossbred tops and yarns for Germany. \ substantial export of crossbred tops !to China prior to the Sino-Japenese war. a sudden extension in Russia’s ’call for crossbred wool, and a more general European interest i » such wool for purposes of uniform elotbs all in addition to a healthy normal home trade are phases sufficient to demonstrate the more complete clearance of crossbred wools- and their products in (he past year or tw ! As a result, consuming demand is nearer to current production of the j raw material than at any previous 1 stage of recent years So finely i (alanced are immediate available 1 supplies of raw material that cross- \ bred toptnakers who may be invited ;to sell forward at less money for ! delivery early next year arc very chary I of such procedure i Whatever the more remote future may have in store, the immediate out* look for the New Zealand season foreshadows a strong opening to the sales, if only on account of pressure of urgent demand, the writer continues Subsequent prospects arc more difficu’t to assess and there are students of trends who advance certain theories on the ground that the general margin of difference between merino and crossbred wool values is more narrow.than usual It is to be hoped that urgent j needs may not cause the New Zealand j market to open on w hat might be termed a false basic.—"Presc” corrca*- * pondent.