WOOL ADVANCES

New Zealand Herald, Volume LXXIV, Issue 22618, 5 January 1937, Page 5

WOOL ADVANCES

SALES IN SYDNEY VERY BUOYANT MARKET COMPETITION FROM JAPAN (Received January -i, 8.55 p.m.) SYDNEY, Jan. 4 The Sydney wool sales resumed today. special interest attaching to the presence of Japanese buyers after a protracted period of abstention due to the trade dispute. Japanese competition to-day on suitable lines was a particular feature of the market, which was exceptionally buoyant. Best descriptions of fieeco woo!, compared with December rates, advanced o per cent, while average to tiooil lines and all descriptions of skirtings were 10 to 15 per cent higher. Carbonising sorts advanced 5 per cent. Excellent competition came from Yorkshire and the Continent. Greasy Merino sold to 30d per lb. The offerings totalled 12,839 bales, of which 12,429 were sold. Also 1743 bales were disposed of privately.. COMPETITION IN MELBOURNE JAPAN BUYS STRONGLY (Received January 5, 12.22 a.m.) MELBOURNE, Jan. -i . Japanese buyers re-entered the Melbourne wool sales to-day, whereupon values increased to 10 ner cent. The first Japanese bid was loudly applauded. Competing over a wide range of wools Japan secured a largo proportion of average style fleeces and sk:,rtings. Although Japan's resumption was tho principal cause of the increase, strong United- States competition -also was a factor. The offerings totalled 8900 ba es and all were sold except 100 bales. Tho higher values represent an increase of £1 10s a bale. PROSPECTS IN LONDON HIGHER VALUES EXPECTED DOMINION CATALOGUES FULL Prospects for all wools are favourable for the lirst series of London sales, which opens on January 12, according to a cablegram received by tho Bank of New Zealand from its London offico under date January 1. A strong market is anticipated, and it is expected that prices for Merinos and crossbreds will advance by Id per lb. New Zealand sales will reojien at Wellington next Monday, and so.great was the rush of wool that the catalogue of 30,000 bales closed on December 10, a month before the sale,. Since that date the catalogue of 30.000 bales for the February fixture in Wellington has been filled. The catalogues for the nexttwo sales at Napier also have been filled, as has that for the next Auckland fixture on January 25. Tho catalogue of 27.000 bales was filled on December 16. Japanese competition is expected to be a dominant feature when the Dominion sales reopen. At the Sydney sales yesterday the Japanese were stated to be competing for suitable lines, but it must be remembered that the Australian clip includes a large proportion of Merinos, whereas Japan uses a considerable amount of crossbred. PUBLICITY CAMPAIGN MELBOURNE CONFERENCE DEFENCE AGAINST FIBRES Delegates from New Zealand and South Africa will meet the Australian Wool Board in Melbourne next week to discuss subjects of importance to the wool trade of the Empire. The principal purpose of the conference will be to discuss wool publicity. Not long ago arguments were advanced to show that wool was losing its traditional place as a raw material for the manufacture of textiles, said a Melbourne woolselling company in its last report. There was a danger that substitutes would soon replace woollen goods. As time went on, unless publicity campaigns in support of wool were launched, declining markets would be inevitable. At present, however, there iii a widespread demand for wool. Current prices are satisfactory. The raw material is going rapidly into use, and it would seem that the supplies are not keeping pace with the wool requirements of the world. Nevertheless, judicious advertising of the qualities of wool should still be advocated to ensure that , tho popularity of woollens be maintained and the best markets for the commodity strengthened and expanded. Australia, New Zealand and South Africa have agreed to provide funds for wool publicity oversea. It is expected that the woollen manufacturers of the United Kingdom will co-operate also, and very soon a well-planned publicity campaign emanating from tho combined resources of the wool trade of the Empire should be inaugurated. The first steps to launch a campaign of this nature will no doubt be taken at tho forthcoming conference in Melbourne. Among other items that will be discussed at tho conference will bo pas- , toral research and the need for uniform j legislation to prevent the sale of mixed j fabrics in the name of pure wool. Adequate scientific research intD stock diseases and other problems affecting the woolgrowing industry" is essential. Portion of the wool levy funds will be devoted to pastoral research, and it is expected that arrangements will be made to keep the authorities in South Africa, New Zealand and Australia informed of tho work of the scientists in Die respective countries, The forthcoming conference might well mark a new and promising era for the wool trade in general, comments the Argus. Whether prices are 1 jgh or low, an organisation to con'■Miet publicity work in the interests of wool might bo regarded as an essential adjunct to the great wool industry of the Empire. Pastoral research work is necessary also, and the public should be protected against inferior materials that are being sold in the retail field as wool*.