COMING WOOL SEASON

Poverty Bay Herald, Volume LV, Issue 17068, 28 September 1929, Page 11

COMING WOOL SEASON

OUTLOOK FOR CROSSBREDS A more hopeful .outlook for medium and lower qualities of crossbred wool is noted in- recent reports fronj Bradford and the United States. These must be read with caution, however, because other advices, are not so reassuring. . . The recent heavy decline at Australian sales is naturally being closely watched by New Zealand brokers and growers. It is felt, however, that .there is 119 need to anticipate the New Zealand sales, which will not open for another two months. Most of the Dominion clip is comprised, not of the liner grades which have suffered at 'Australian auctions, but oMlje coarser qualities tp which the reports mentioned above relate. After speaking of the lack of confidence in the Yorkshire trade, the Bradford correspondent of the Times, London, goes on to state that “not until a good quantity of the new Aius--traliaii’wool clip is 011 the market will low-water mark be touched for merino and fine crossbred wools. At the moment, with consumption as severely restricted as possible there is a plentiful supply of the finer qualties of raw material. .

“The position is different 'in the .caseiof .medium and' lower qualities of crossbreds., 'Changes in' the breed of sheep for some years have diminished the. supply of ‘preparing’ wools and should consumption increase they may for a long period command prices which, compared witdi those for the finer qualities, will appear to be out of proportion.'' Some speculators thought that would happen last season, but the. consumption has been so limited that they have lost money on the high prices they paid for these wools about a year ago. But hero again values will depend mainly on consumption.” From American sources also comes a report which presages a demand for coarser wools. According to the advice received in Wellington, United States motor car manufacturers are favoring upholstering cars with fabrics made from coarser wools instead of from leather. Both the "reports conflict somewhat with the general expectation in New .Zealand, blit are worth reading together with less optimistic advices already received.