COMMERCIAL

Poverty Bay Herald, Volume LX, Issue 18284, 30 December 1933, Page 2

COMMERCIAL

YORKSHIRE £USY

DAWSON’S MARKET SURVEY

Commenting on the sharp advance in prices at the opening of the London wool sales on November 21, H. D a ' son, Sons and Company, Limited, wrote:—The consumption in merinos throughout the West Riding has been terrific, and is one of tJiQ main factors that has achieved the absorption of abnormal Australian and South Air cun clips. Yorkshire stocks of ran wool and tops remain light. During recent months these have been diawn upon for export to America am >3 the Continent in certain grades. Comebacks and fine crossbreds are extremelv scarce. The overseas trade returns, although only an index of what has already happened, reflect the expansion of exports m wool, tops, yar . and piece goods, all of which have made progress. More workers m employment throughout the nation combined with improving railway trafcc, indicate clearly an accelerated Home The mills in the West Riding aie running almost to capacity, andt more ; night shifts are at work than foi manv years. The decline of unemployment among textile workers, and particularly weavers, provides furthei proof if it were needed. It is not sui prising, therefore, that Bradford has ♦aken the lead in the present upward movement, to which German buyers also have recently given added France is m,t so kapp'ly placed, and aopcars to be hampered by lack of internal trade. In face of %'ipo competition from countries with depreciate* currencies, her exports of tops have increased substantially to Belgium, and Czechoslovakia, and total are SO per cent higher than in jty>o Yarns also show about -0 per cent' increase, but piece goods are down by about <i per cent, ttoghs <ff tops' are high, at a time when the> should normally be low. Crossbreds total move than 10.00(1,000 kilos, which is :i record figure for recent years, tin total of Continental stock of tops, although mainly in crossbreds, is sufficiently heavy to steady any spasmodic speculative demand for raw wool. The new season’s wools have cojnp forward to the ports m South Africa Sy, and the selling programme is almost a month, later than usua. _ i s therefore too early and too difficult to estimate the clip aecurat . but taken in conjunction w|tli Aus tralia, a total decline of about 700,00 bales in anticipated by the tiadc. Australian production remains on a hi<rh level, at over 2,000,000 bales, ami the clean content of the South Atr can dip has tended to increase m TG Excluding' the record shearing of over 3,000,000 bales in 1932-3, thu season’s Australian out Put bQ slightly above the average of thepr-c vious seven years, and 7 00,000 bales above the 1921-5 average, during which period small clips were supplemented bv war accumulations. Recent production has heem absorbed in remarkable fashion. The London stock is about 25,000 bales below November, 1932, since whep, merinos have advanced 7o e* cent, and low crossbred 45 pei ei i t. What surplus remains is confined o crossbreds, chiefly of the lowest qualities, of which some 50,000 bales weic exported during the summer frpm the Argentine to America for speculative account; not more than the equivalent of one-third of a New Zealand clip remains for sale altogether in London, afloat, or in New Zealand- One ol the first results of higher merino prices will be the rapid clearance ot the New Zealand surplus on an advancing market. .