ADVANCE IN WOOL

Southland Times, Issue 22217, 9 January 1934, Page 5

ADVANCE IN WOOL

BRADFORD QUOTATIONS UP. ACTIVITY ON CONTINENT. (United Press Assn—Telegraph Copyright.) London, January 7. Mr W. P. Devereux, the representative of the Australian Woolgrowers’ Council, reports that the strong opening at Sydney is reflected in all markets on this side and. quotations for tops have improved in all centres. Bradford Merino topmakers have advanced their quotations in accord with the replacement cost of the raw material, while spinners are largely holding back. The actual amount of new business is not extensive. Fine crossbreds have advanced in line with Merinos, while an increased demand is developing for mediums. Spinners are finding some difficulty in increasing their quotations for yarns. Sales of tops in Germany continue in fair volume with prices very firm. Continental futures are active. The quantities for the next London sales are likely to be small. SYDNEY AUCTIONS FURTHER 5 PER CENT. RISE. (United Press Assn—Telegraph Copyright.) (Rec. 10.10 p.m.) Sydney, January 8 At the wool sales 12,536 bales were offered and 12,218 sold, also 1017 which were disposed of privately. The market was very animated and showed a further advance of 5 per cent. A feature of to-day’s auctions was the competition on German account, all the other sections also operating freely, Greasy Merino made to 31 for eight bales from Barraba. The average price of the wool sold last week was £23 17/6 a bale or 19.3 d a pound. BRITAIN’S EXPORTS NEW ZEALAND PROPORTION MAINTAINED. Some interesting figures have come to hand from Bradford, showing Great Britain’s exports of woollen and worsted piece-goods during the last few years. The figures are quoted from Wool Record and Textile World (Bradford), November, 1933. It will be noted that the total exportation to all countries has declined very considerably; but exports to New Zealand have been well maintained in spite, of the slump, the decrease of purchasing power, and exchange. These figures (giving our imports in quantity instead of value) seem to be an answer to those importers and others who have appeared before the Tariff Commission to contend that tariff and exchange have reduced the volume of New Zealand’s imports from Great Britain. The exports of woollen tissues are as

To New To all Zealand. countries. sq. yards. sq. yards. 1929 2,367,000 108,185,000 1931 1,664,300 56,330,900 .1933 (9 months) 1,907,000 45,942,000 Exports of worsted tissues were: sq. yards. sq. yards. 1929 865,500 47,270,900 1931 745,300 29,746,300 1933 (9 months) 652,600 24,992,200