WOOL PROSPECTS

New Zealand Herald, Volume LXXII, Issue 22211, 11 September 1935, Page 9

WOOL PROSPECTS

CONSUMPTION IN BRITAIN EFFECT UPON PRICES f " "STILL DOMINANT FACTOR" r The consumption of -wools in Yorkshire continues apace, although the temporary squeeze has passed. It is, however, the first time for several years that many spinners have b«in able to keep their plants going full time during the summer months, states a review issued by H. Dawson, Sons and Company, Limited, Bradford. It would, however, be unwise to base any future outlook for fine wools on the present maximum rate of consumption in the home centres. The export trade is still pursued by a continuation of difficulties, particularly as regards import restrictions and exchange vagaries. In France, further deflation is being experienced and the turnover is still on a low level. In Germany, present business is almost negligible, and hindered by financial limitations. Italy is needing wools, but unfortunately requires credit, aud in view of the doubtful international situation and warnings from the British Board of Trade a confident and free flow of business ia unlikely to eventuate. It is hoped that Japan may operate more freely in Australia, but the United States have, as yet, shown no sign of coming into colonial markets. The dominant factor is still to be looked for, and found, in the home trade. The revival in the iron and steel industries, together with the general trade improvement, provide good grounds for optimism. The increased turnover of raw material during the past season revealed record wool imports from Australia, which have been chiefly absorbed by home consumption and re-exports. The outstanding fact is S that an Australian clip of about 3,000,000 bales is becoming a normal average, and can be freely consumed. It is necessary, however, to envisage ; the position of values carefully, espoci- ■ ally in regard to the relative cheapness of medium crossbreds as compared with Merinos. Worsted goods are still enjoying some preference as compared with woollen cloths generally, and the finer to medium grades of crossbreds are becoming increasingly serviceable for the preferred fabrics. The disparity in values between Merinos and these grades is showing signs of becoming adjusted, which is a natural sequence.

SALES IN SYDNEY VALUES STILL UNCHANGED !■ JAPAN'S KEEN BUYING r (Received September 10, 9.15 p.m.) SYDXEY. Sept. 10 At the Sydney wool sales to-day 12,654 bales were offered and 11,267 were sold. Also, 955 bales were sold privately. i Competition was keen, especially from the Japanese section, supported satisfactorily by the Continent. Values generally were unchanged. Greasy Merino sold to 20d.

RISE IN WHEAT LIVERPOOL QUOTATIONS LOAF MAY BE DEARER LONDON, Eept. 9 Wheat rose again in Liverpool today, making an increase of 2id since the Canadian Government's new fixed price of 87 J cents a bushel, which was ahead of expectations. London millers have increased flour by Is to £1 8s; for 2SOlb. It is possible that bakers shortly will increase the price of the '4lb. loaf by }d to Bd. / The City editor of the Times says the Canadian authorities certainly liave taken account of conditions throughout the world. Australia now has comparatively little wheat remaining from her last crop. The prospects of the new crop are comparable with the last. The large stocks of the world, on a broad survey, remain in Canada, to which importing countries are likely to look during the present cereal >year for rather more thau half their supplies. For cargoes, quotations nominally increased. Parcels were quiet and dearer. Futures.—London: September, 26s 2d a quarter. Liverpool: October, 5s lljd a cental; December, os lOd; March, 5s Bsd.

GOLD AND SILVER QUOTATIONS IN LONDON fßeceived September 10, 7.35 p.m.) LONDON, Sept. 9 Fine gold is quoted to-day at £7 Is 2d an ounce, compared with £7 Is Id on Saturday. Silver is quoted at 29 3-16 d an ounce spot and forward, same as on Saturday. . : The quotation for silver at per fine ounce is 31id, same as on September 6. The following is & summary of the fluctuation in the price per ouncs of fine gold in 1935: — £ i d Highest price, March S .. 7 9 4 Lowest price, August 27 .. 6 19 91 September 3 .. .. 7 0 3 September 4 .. .. 7 0 4 September 5 .. ... 7 0 71 September 6 .. .. 7 0 10 September 7 .. .. 7 11 September 9 .. ..712