WOOL TRADE

Otago Daily Times, Issue 22713, 28 October 1935, Page 16

WOOL TRADE

OFFICIAL REPORT (From Our Own Correspondent) (By Air Mail) LONDON, October 5. According to the Imperial Economic Committee’s “Wool Intelligence Notes” for September, the possibility of political disturbance and uncertainty as to the future trend of wool values has limited activity in the Continental wool textile industries during the past month. The final estimate of wool production in New Zealand during the season ended September 30, 1935, was 276,000,0001 b, a decrease of nearly 25,000.0001 b as compared with the previous season. The wool clip in the Union of South Africa for 1935-30 (exclusive of skin wool) Is now estimated at 232,000,0001 b, or about 10 per cent, higher than last year. In the United Kingdom, the provisional estimated production of 110,000,0001 b for 1935 represents a fall of nearly 4 per cent., compared with 1934, and is the lowest estimate since 1930. The prolonged dry weather in Argentina has been anything but favourable for the approaching clip, but no estimate is yet to hand of the percentage of the flocks affected. The latest estimates of Algerian sheep population (5.8 million) represent a slight increase as compared with 1934. Hungarian wool production in 1935 is estimated at 15 per cent, higher than last year. SALES, SHIPMENTS, AND STOCKS. Shipments of wool from Australia in tlie first two months of the current season (July and August) aggregated 56,000,000 lb, as compared with 19,000,0001 b during the corresponding months in 1934, and 59,000,0001 b in 1033. The largest increases were shown in shipments to the United Kingdom, Japan, Belgium, and the Netherlands, Shipments from New Zealand during the same period (18,000,0001 b) were 8,000,0001 b . greater than in 1934. while shipments from the Union of South Africa (4,400,0001 b) were slightly lower than in the previous year. As no public sales took place in any of

these countries during July and August, the amount of wool changing hands was limited, and the volume of shipments, although on higher levels than in 1934, suffered the usual seasonal decline, as compared with previous months. Shipments from Argentina during the period October, 1934, to August, 1930, showed an increase of 24,000,0001 b, as compared with 1933-34, and shipments from Uruguay during this period increased by 18,000,0001 b. Larger shipments to Germany and the United States were chiefly responsible for the Argentine increase, and Germany, Italy, I ranee, and Belgium all increased their purchases ot Uruguayan wool. Stocks in both countries are reported to be on very low leVC ' H ’ STAPLE FIBRE. The report also calls attention to the removal of the Excise duty of 3d per lb bn staple fibre, and the subsequent reduction of 4Ad per lb in the price of - Fibro ” early in September as developments of direct interest to all branches of the textile trade. “ Staple fibre ” was defined by the Import Duties Advisory Committee, when announcing its recommendation to the Treasury as “ artificial silk, which at the time of manufacture is cut into short lengths, mainly for the purpose of being subsequently spun into yarn, either by itself, or in admixture with other fibres, such as wool. o r cotton. Itj? affords a valuable alternative material for the wool and cotton industries, yielding a product with qualities of its own. which is expected to be of substantial assistance to those industries. Its use is being widely developed abroad, and has already made some progress here, but is hampered in this country by the Excise duty upon it.” 'While estimates of staple fibre production have been made from time to time, it is difficult to arrive at a reliable estimate of world production, at this stage of the evolution of the industry. Germany and Italy are known to be the largest producers; while the share of the United Kingdom up to the present has been relatively small. It is anticipated that the removal of the Excise duty and the extension of the productive capacity of the industry will have the effect of considerably extending United Kingdom production in the near future.