PRICE OF WOOL

Poverty Bay Herald, Volume LXIV, Issue 19315, 4 May 1937, Page 10

PRICE OF WOOL

PAST SEASON'S RESULTS BEST VALUES SINCE 1928-29 W. AUSTRALIA'S ILL LUCK Tho .1030-37 Sydney wool soiling: season, states the- latest report of Winchcombc, Carson, Limited, Australian'woolbrokers, must bo ranked as the., most,successful experienced in tho Commonwealth, since 1928-29. Wool is not as costly to consumers abroad as In'that year. That fact is shown, by tho price of Bradford tops. Average 64's Merino tops recently quoted at 39d per lb., were Xd per lb. cheaper than (hiring the period quoted; but as a resiiilt of tho 25 per cent rate of exchange prices for wool in Australian eurronjey are slightly higher than in 1928-29. "Western Australia i; the only .State tho revenue of which' does not show benefit from the higher prices reqorded. Receipts of wool at the Western Australian stores to the end of March were 50,410 bales or 25 per cent less than 12 months previously. Droughty conditions were, responsible for tho marked reduction in the clip. Sheep, were lost arid the stock shorn .CUt .much. reduced t \yeigh*te ■ of wool a head. In all other Stntcte revenue

from tho sheep's staplfe has shown a marked advance. Demand from the United States has undoubtedly been ono of the greatest influences on wool prices and most other commodities. The consumption of raw materials in that country owing to its huge population of approximately 125,000,000 people with great spending power is a world-wide factor. The future of wool values, therefore, to n, considerable extent depends upon tho demand likely to be ■experienced from that quarter. In spite of larger imports, stocks of apparel wool in tho United States oil February I were 43,000,0001 b less than on January I .and 123,000,0001 b, or about 400,1)00 bales less, than the average February stock during tho preceding 10 years. American coinpetition for the sheep's staple will naturally depend' upon, the course of trade in the months ahead, but, as far as can bo judged at present the outlook for a continuance of American demand for suitable wools Is promising, American purchases of tho staple have not only increased In Australia, but also in South Africa, Now Zealand, and South America. Rise in G'rutchings Times have certainly changed in regard to monetary returns in the wool industry. Sales of crtitchinas have of late been made at prices resulting in Cl2 to £l4 a hale being .secured for them. In 1032-33 the average result for the whole Australian clip was only ,£.1.1 9s sfl a bale, and in 1934-35 .Cl2 13s (id, In those days crutchlrigs find oddments were often a liability and not an asset. The returns for them often would not pay