EXPORTS OF WOOL

New Zealand Herald, Volume LXXV, Issue 23177, 25 October 1938, Page 5

EXPORTS OF WOOL

AUSTRALIAN INCREASE TOTAL VALUE DECLINES LATER RECOVERY IN PRICES Tiie lower prices which have been ruling for wool arc reflected in the drop of more than £2,238.000 in the value of exports from Australia during the period from July 1 to September >'io when compared with a similar period last year. The dcclino is emphasised by the fact that 69,498 bales of greasy wool in excess of last year were shipped. The average price for the three months was only 9.8 d per lb., but sineo then there has been some improvement. The average price at the Sydney sales for the week ended October 15 was 10..'id per lb. The following figures show the quantity of wool sold in Australia, the amount realised and tho average per lb. greasy and'scoured, secured from July 1 to September 30 during the past five seasons: — Bales Value Av. per lb £ d 1934 .. 279,703 3,541,507 0.00 1035 .. 308,1 OU 5,054,-129 12.*4 193tl .. 315,5r,8 5,372,453 12.93 1937 .. 323,832 6,385,117 J 5.20 1938 .. 323,145 4,135,538 U.b3 Tho United Kingdom took 150,080 bales of greasy wool, representing about 33 per cent of Australia's exports, compared with 134,908 bales in the corresponding period of 1937. France was tho second Heaviest purchaser with 74,460 bales, an improvement on the previous period, when her imports wore 41,530 bales. Tho new trade agreement with Japan was responsible for almost four times as much wool being sold to that country. She imported 49,821 bales of greasy wool, valued at £856.879, as against 13,507 bales, valued at £304,381, in tho previous period.

DOMINION SHIPMENTS I THREE .MONTHS' TOTAL LOWER j Exports of wool from New Zealand | during the three months ended Scpi tember 30 amounted to 62,557 hales, against 71,946 in the same period of 1937, according to figures issued by Dalget.v and Company, Limited. Shipments in September totalled 18.215 bales, of which 2375 bales wore sent from Auckland and Opua. Offerings of wool during September were 991 bales, of which 026 bales were (■old. In Auckland there was a total clearance of' 373 bales. Total offerings for the three months ended September .'io were 16,197 bales, of which 13.285 hales were sold. The corresponding figures for 1937 were 22,412 bales and 20,841 bales. MOVE FOR MINIMUM PRICE COUNTERACTING LOW LEVELS Perturbed at the low level of wool values, lite Selectors' Association of Queensland is considering action for the introduction of a minimum export price. The association will probably seek support from kindred associations in New South Wales. Victoria and Western Australia, and an inter-State conference may be held to consider withdrawing from the Australian Woolgrowers' Council and the submission of proposals to the Federal Government tor a minimum export price.

The secretary of the association, Mr. G. E. Humphreys, said that the growers were rapidly approaching the position that ruled in 1932, when they were losing 4d a lb.

LARGER AMERICAN CLIP MILL ACTIVITY IMPROVES The Bureau of Agricultural Economics of the United States estimates that the United States 1938 clip will be 457,000,0001b., including wool from skins, tho equivalent of 1,523.000 bales of Australian weight. This total shows an increase of approximately 2,000.0001b., or 6666 bales, on the 1.937 quantity. The estimated number of sneen for shoaring is 46,632,000 head, or about 600,000 head more than a year before, the estimated weight of fleece per sheep being 7.901b., compared with 7.971b. in 1937.

The latest mail advices indicate steadiness on American markets. Activity at the mills has shown some improvement on the very low leveL experienced early this year. The Commercial Bulletin, of Boston, states that at June 30 unfilled orders on hand at the mills were 25.734,000 yards, compared with 15,896,000 yards at the close of March. Consumption of apparel wool in the United States for the first six months of this year was 76,300,0001b., scoured basis, being only about one-half of the 1937 total for the period. Stocks of apparel wool in America at June 30 last were 3.000.0001 hj., scoured basis, less than at June. 1937, and 7.700.0001b. below 1936. Tho very small imports made in the past season were the cause of the reduction.

SYDNEY SALES RESUMED GOOD GENERAL COMPETITION (Received October Ml, 10.13 p.m.) SYDNEY, Oct. 2-1 The wool sales were resumed under good general competition. Prices were on a par with closing rates of the last scries. Greasy Merino made 17Jd per lb. Offerings totalled 13,074 bales, of which 11,770 bales were sold, 1990 privately.