BUYING OF WOOL

Poverty Bay Herald, Volume LXIII, Issue 19141, 9 October 1936, Page 8

BUYING OF WOOL

DEMAND FROM JAPAN SWING TO SOUTH AFRICA SLIGHTLY LARGER CLIP With the Japanese wool buying, turn ing from Australia to South Africa the estimate of this season's South African clip holds special interest. The swing in demand is illustrated by the fact that from July 1 to August 51 only 929 bales were exported from Australia to Japan, compared with 48,599 bales in the same period last year. This month's South African clip is expected to total 262,CC0.0001b, the equivalent of approximately 873,000 bales of Australian weight, an increase of 80,550 ;:ales on the 1935-36 production. However, this is 227,000 bales below the peak quantity of 1932-33, when 330,000,0001 b, or about 1,100,030 bales were grown. Figures covering the exports of greasy wool for the 12 months show that 'France was the largest buver in South Africa with the,equivalent of 220,693 bales of Australian weight shipped to her ports. Exports to the United Kingdom were 182,996 bales, Germany 141,553 bales, Belgium 71,643 bales. United States 10.250 bales, < Italy 9253 bales. The quantity taken by Japan was so sniall as to be unquotable'. In 1934-35 and 1933-34, however, considerable quantities were taken by Japanese operators. Japan has already" bought, freely in South Africa this season".

That increase in buying and the absence of a great advance in the size of the clip will debar other countries from securing last season's quantities. If they continue to need merinos, Australia is the only other quarter by which appreciable supplies of them can be secured. Until the South African auctions have proceeded for some time, the full effects of that possible change cannot be seen.