CROSSBRED WOOL

New Zealand Herald, Volume LXXV, Issue 23226, 21 December 1938, Page 9

CROSSBRED WOOL

MARKET CONDITIONS RESERVE STOCKS DEPLETED BROADENING OF DEMAND [FRO3I OUR own correspondent] • LONDON, Nov. 28 Discussing the wool sales in New Zealand, the Yorkshire Post says thatit is doubtful whether, in recent years-, the crossbred marketing season has opened amid more interesting conditions than prevail at the moment. Although statistics show that aggregato wool stocks in the United Kingdom are above average for this time of the year, the position.of crossbred-wool is exactly tlio reverse. Merino wool is in more generous supply, consumption .of. which has recently been below normal, -while consumption of crossbred wools has been brisk.

This state of affairs has been developing gradually in the last few years, it is stated, so that the conditions in some directions may be described as acute. During the past year the trade has seen a succession of abnormal phases of demand, both in England and on the Continent, with the result that reserves have been depleted considerably. The demand for Jubilee and Coronation decorations, an improved call for crossbred topsi and.yarns .for Germany, a substantial. export of cross-tops to China prior to the Sino-Japanese war, a . sudden extension -in Russia's call for crossbred wool, and a, more general European interest in such wool for purposes of uniform cloths—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 the past year or two. .. _ As a result, consuming demand is nearer to current production of the raw material than at any previous stage of recent years. So- finely, balanced are immediate available supplies of raw material that crossbred topmakers who may bo to. sell forward at less money for delivery early next vear are very chary of any sucb procedure. • -r

QUOTATIONS FOR WHEAT LONDON AND LIVERPOOL FUTURES IN CHICAGO • LONDON. Dec. 10 Wheat. —Cargoes are easier and parcels are lower. Futures:—London: January, 23s l*d a quarter; March, 23s 2d. Liverpool: Old contract, December, 4s 8-id a cental; March, 4s s£d; May, 4s 6gd.. New contract, March, 4s 31d; Ma\, 4s 4|d. 19 ' Wheat.—December, 64 cents a bushel; May, 66* cents; July, 66* cents. . . FIRM BUTTER MARKET STORED STOCKS REDUCED SHORT CHEESE SUPPLIES i A firm market ruled for New Zealand butter on the London market at . the-close of last week. Choicest salted was quoted at Ills to 112s per cwt., a rise of 4s per cwt. on the week. The retail value was unchanged at Is 2d , per lb. Stored stocks of New Zealand butter have been sharply reduced. Tho total held at the close of last week was 3251 tons, or 1760 tons less than in the previous week. The total a year ago, however,, was only 2214 tons. Australian -stocks at 4048 tons were considerably higher than the total Oi 1688 tons held last year. - „ The cheese market is firm. Supplies are short. . By arrangement with the Primary Products Marketing Department the New Zealand Dairy Board supplies the following information for the week ended DecemberH6, figures for the previous week being given in parentheses: — ... . ' Butter.—New Zealand, salted, Ills to 112s (107s to 108s); unsalted, 114s (110s). Deliveries: New Zealand, 1<96 tons (last year, 3357 tons); in store, 3251 tons (last year, 2214 tons). Australian* salted, 109s (104s to 106s); unsalted, Ills to 112s (106s to 10's). . Deliveries: Australian, 2405 tons (last year, 2152 tons); in store, 4048 tons (last Tear, 1688 tons). Argentine, unsalted' 102s to 106s (96s to 102s); Danish, 123s f.0.m,. 144s to 145s spot (121s, 143s to 1445); Dutch, unsalted, 124s (118s); Lithuanian, unsalted, 112s to 113s (108s to 110s). New Z?aland retail price. Is 2d per lb.; Danish retail price. Is sd, general. Cheese.—New Zealand, white, 70s (68s 6d to 69s)coloured, 69s to 70s (695). Deliveries ijNew Zealand, l-,oro crates (last yearf 21,229 crates); in store. 20.205 crates (last year, ,34,560 crates). New Zealand retail price unchanged at 9d per lb,'Australian, white and coloured, 64si to 66s (64s to 66s i (64s to 675). v The* market' is slow. Canadian, white and coloured /Is to 72s (71s to 725); old season white, /8s to 80s (80s); coloured, 80s (—)• Ue ; , liveries: Canadian, - 9699 boxes (last , year, 11,819 boxes); m store, 163,8.1 "boxes (last year. 154..>98 boxes). The market is quiet English ' est _ ?s' 86s to 94s (86s to 965). The market is steady. I BRADFORD MARKET TOPS QUIETLY STEADY LONDON, Dec. 19 On the Bradford market, top's are ' quietly steady and are expected to remain so until the holidays. PRODUCE IN LONDON 'TALLOW MARKET UNCHANGED Tho Department of Agriculture has received the following cablegram from the Hi ,r h Commissioner for New Zealand, London. dated December 16:— Tallow.—The market continues quiet on the spot, with prices unchanged. Mutton: Fine, 24s 6d to 2os; good, 21s to 21s 6d; fair, Ls. Beet: Fine, 21s to 225: good. 18s; fair, 16s fad. Mixed: Good." 18s;. fair. 16s 6d; gut, 14s 6d to 15s 6d. Mutton: Dark to dull 15s 6d to 16s 6d. Beef: Dark to dull," 14s 6d to 15s 6d. . . Hemp.—ln the Manila market there was a little more demand. Small business has been done. K grade Decem-ber-February shipment, £l9 ss. The sisal market is quiet, but steady. Sellers quote December-February shipment, January-March shipment. £l6 12s 6d. In New Zealand- there is nothing to report. . . Eggs.—The market is quiet; sales are slower. English, national mark, mediums, standards and specials, 16s 6d, 225; English, ordinary pack, l£ lSjlb., 16s 6d. 17s 3d; Danish, 14-18H* 10$ 6d, 16s; Australian, 14-181b., 30s 133 -