THE WOOL TRADE

Poverty Bay Herald, Volume LXII, Issue 18900, 30 December 1935, Page 11

THE WOOL TRADE

WIDESPREAD DEMAND .VALUES UNCHANGED SYDNEY, Nov. DU. The demand for wool experienced iu all quarters without competition, snowing the over-excitement which, produces extreme prices, is a cheerful indication of future marketing circumstances. International politicai developments have not been devoid of conditions which in previous seasons since .1930 would probably have unsettled values, but, owing to increased employment, trade iu null products in most countries has recovered .since those dull years and the wool market has proved less sensitive to disturbing factors which have arisen. Minor variations in values occurred towards the close of this week's sales, but any changes experienced were very slight. Competition in Sydney has been widespread. Yorkshire, Japan, -Prance, Germany, Belgium and Australian iiiilJiiien have operated ireeiy. America has been a good buyer of spinners’ wools of attractive length and Italian operators have purchased to some degree. Prices winch gave some cause for disappointment to owners were the figures offered Jor a number of usually choice clips from the northern tablelands ana slopes, which normally iigure among the highest results. Adverse growing conditions produced shortness of staple and more or less hunger fineness in those lines this year. Boundness of fibre and good length are necessary to produce high rates for spinners' wools on the market. Demand for topmaking wools fiom the Japanese trade was brisk over the bulk of the week, rates for those lines showing firmness. All skirtings found eager buyers at firm figures and comebacks and crossbreds sold readily, at late values. Recent weekly Sydney market averages of Hi'd. have been apt. to convey the impression that prices have risen 3d per lb or liu per cent, since an average of lljjd was recorded iu late September. Rates on the average have recovered 10 to 15 per cent, since that time, the recovery being most pronounced on lower grades. More attractive selections have been largely responsible for the decided advance in the market average obtained. This week 50,702 bales were offered, of which 92 per cent, was s.old at auction. The catalogues averaged approximately I4sd per lb. IMPROVED ENGLISH ACTIVITY Bradford Conditioning House returns tor September intricate an increased consumption of w.uol iu YorJtsuiro. The total turnover was 7,<oiy yiSlti, being 2,U95,U44ib more than in September, 1904. The quantity' of tops handled was 0,734,37iffb, an increase

of J ,560,7771 b. During the nine months ended September, the total turnover was 75,0bi,7091b, the quantity being 18,435,0771 b greater than a year before. Tops handled were 47,052,9201 b, an improvement of 9,976,4791 b. A bulky use of the staple has proceeded. Great Britain has imported wool freely this year, but stocas of wool in public warehouses in London and elsewhere and in railway- and canal depots in Yorkshire at the end of August were only 151,000,0001 b, being 53,000,0001 b less than at the similar time a year before. Those figures give an indication that stocks in England were less than normal for the period of the year. In most consuming countries similar conditions prevailed, judging by the fact lhat the quantities of tops on hand at European centres displayed considerable reduction on a year before. Whilst that position may not cause any further sharp increase in wool values, it certainly gives encouragement to t ho opinion that demand for the staple is likely to be sustained. Board of Trade returns covering exports from Great Britain supply further evidence of good business in Yorkshire. Jn September the exports of tops were 875,0001 b more than a y-eiir before, worsted yarns 98,0001 b less, but woollen and worsted fabrics showed an increase of 031,000 square yards. During the nine months ended September, shipments of tops were 41,112,0001 b, being 10,437,00(llb greater than during the corresponding period of 1934, Germany taking 14,242,00011), an increase of 7,708,000 II). Worsted yarn exports were 24,009,0001 b, showing a decrease of 1,001,000 lb. Shipments of woollen and worsted fabrics were 82,907,000 square yards. Evidence of the expansion in British foreign trade since the dull times of the depression is supplied by the fact that, this year’s exports of woollen and worsted fabrics from January to September, compared with 1932, displayed an increase of 20,0000,000

square yards, tops 13,000,0001 b, and worsted yarns 2,000,0001 b. Competition for wool from Japan has been one of the most important, factors at this season’s Australian sales. At, the earlier auctions of the selling year, Japanese bought 00 to 70 per cent, of the wool submitted, and unquestionably can be credited with establishing values. At the end of July the stocks of wool reported in Japan were 55,200,0001 b, being 8,000,0001 b less than at the same date a year before, and 17,200,000 below the total at Juno 30, 1934. Due to unusually- heavy imports of wool during the month, the quantity on hand advanced 5,000,0001 b in July. The total imports of the sheep’s staple during the first seven months of the year were 151,100,00011), being 20,200,0001 b above the 1934 figures for the similar period. In view of that total, the stock position indicates that consumption in the mills has been very heavy, Japanese exports of woollen fabrics showed considerable expansion in 1934, but they increased further from January to July, totalling 15,041,000 square yards, being 2,276,000 square yards above the previous year.