THE WOOL MARKET

New Zealand Herald, Volume LXXIV, Issue 22627, 15 January 1937, Page 5

THE WOOL MARKET

SALES IN LONDON STRONG COMPETITION ACTIVITY OF HOME TRADE ' LONDON, Jan. 13 At the wool sales 89c»7 bales were offered, including 1757 from New Zealand, and 8561 were sold. A good selection was offered, chiefly Australian Merinos. There was strong competition, the home trade securing the bulk. New Zealand greasy crossbred "Pa Nikau" realised 20d top price and 183 d average. DEMAND FOR FLEECE SUPPLIES NOW OUTPACED OUTLOOK FOR THE FUTURE LONDON, Jan. 13 H. Dawson, Sons and Company, Limited, commentine on the wool outlook, state: —London's verdict naturally may be expected to give a further fillip to consuming centres. The raw material is urgently required by every textile centre in the world. It seems that the demand at the moment has outpaced supplies, but it is impossible yet to gauge whether this eager call will be permanent for the rest of the season. The vital factor of credit will come into play. Financial facilities will have to be expanded considerably to cope with the new situation. Bradford topmakers are finding a difficulty in keeping pace with the rapid advance in prices, and stocks of tops and raw wool are abnormally low. Tho greatest problem is the temporary scarcity and dearness of crossbrecls, but the raw material has seldom occupied a stronger position in respect to demand and values.

PLANS FOR PUBLICITY CONFERENCE IN AUSTRALIA SUPPORT OF GOVERNMENT (Received January 14, 7.15 p.m.) MELBOURNE, Jan. 14 A conference of Empire wool growers' representatives was opened to-day by the Prime Minister, Mr. Lyons, to consider plans for publicity and research on an Empire basis. Delegates were present from New Zealand and South Africa.

The Prime Minister pledged the support of the Commonwealth Government to any practical scheme. He said that he hoped the scope of the conference would be widened to embrace all countries interested in the manufacture as well as the production of wool. He estimated the income to Australia from the sale of wool in the present season would be £60,000.000 sterling. OFFERING AT NAPIER SALE ON SATURDAY ! WIDE RANGE OF QUALITY [by telegraph—owx correspondent] NAPIER, Thursday The wool sale at Napier on Saturday . of Hawke's Bay and Poverty Bay clips is expected to be the best offering since the boom sale in January, 1934. The offering, which consists of approximately 30,000 bales, contains a wide range of quality that will enable all consuming countries to be in the market. The offering in general has opened up well but is not as bright as anticipated, nor is it up to the standard of the December sale owing to the tops of several clips having been sold at the first sale. Lamb's wool generally is disappointing owing to the lambs not having done so well this season, but in odd clips the quality is of a high order. , - JAPAN'S DILEMMA SUBSTITUTE UNSUCCESSFUL SYDNEY, Jan. 14 Mr. J. Dunlop, a Dunedin business man who has returned from a trip to ) the East, stated to-day that even if Australia had not signed the trade treaty with Japan that country would have been forced to purchase Australian wool. There was a feeling of alarm in Japan over the wool deadlock. There was much talk about artificial fibre which might replace wool, but; it had been «found that when that fibre became damp it tore easily. In the meantime, valuable machinery equipped to handle fine textured wool from Australia was idle or nearly idle PROMISING OUTLOOK EFFECT OF REARMAMENT (Received January 14, 6.45 p.m.) "WASHINGTON, Jan. 13 The Department of Agriculture in a report states that, with the indication of foreign rearmament programmes, wool prices will maintain high levels during the next few months. The increased use of wool for military officers' uniforms has contributed to the demand in most consuming countries. Prices have reached the highest levels since 1929. With world supplies relatively, small, the demand is strong. The maritime strike has increased domestic s prices. 1 RECORD TOR MERINO FLEECE FRENCH BUYER PAYS ,35 JD PER LB. An Australian record for Merino fleece wool this season was established at the Sydney wool sales on January 7, when a French buyer paid 35$ d a lb. for five bales of a clip from Gunning submitted by the New Zealand Loan and Mercantile Company. The clip opened out most attractively, showing superior quality and length, while the condition and colour were all that could be desired. The clip showed most careful breeding, possessed exceptional character, and had been well prepared. The record lot was composed of extra superfine combing ewes' wool. Another fleece line in the clip realised 34} d a lb., for six hales of super AA combing ewes, while prices ranging from 29} d to were paid for other lots. The season's previous record was 33$ d per lb., at Geelong. BRITISH WHOLESALE RATES (Received January 14, 0.5 p.m.) British Wireless RUGBY, Jan. 13 A Board of Trade return sliowr that the average of wholesale prices last year was 6.1 per cent higher than iu 1 1935. • - f

Reports of country svock sales appear -:J|g on page 7.