THE WOOL OUTLOOK

Wanganui Chronicle, Volume 79, Issue 13, 16 January 1936, Page 3

THE WOOL OUTLOOK

• >:rung ■_ w'lem-e exists for the belief 5 m the general soundness and healthy condition of the textile industry, state IH. I iw? n, Sons, an I • 0., Ltd., writing at the dose of the November-December i London wool sales. The absorption of ■ supplies proceeds at a record pace, and | the .>t"' k' of tops or wool in the Eng- | ksh combing nulls are at a minimum r materia copies a wonderfully favoured position as compared with other basic commodities. The increasi.'ig requirements of Japan is one J «»t its •v-t assets; there are also some i hopeful s giis of U.S.A, interest in raw w >oi, although at present their operation.- have been confined almost entireIly to South American and crossbred j 1: is. however, difficult to remain pes--imi-t;.- for long because, excepting inI rer.o- - sorts wiii<-h usually ieel the idraug / first, ail grades are in strong demand, and the prospects indicate a continuance of the expended consumption. As regards crossbreds, the London market has seldom seen more general ami excited demand, the opening advance in the lower and medium grades being almost startling. It has to be . remembered, however, that some of the poorer countries of Europe cannot I afford to pay the present nigh values I for Merino sorts and are taking the cheaper grades. The woollen section ol the industry is sharing very largely in the general •’- ■■ '■ ■■' nt. There is at the moment a shortage of hands in both sections, and manufacturers are needing more work-people than are available. Some of the largest mills in the Colne Valley and Leeds district are running overtime, and in some cases working night and day. Consequent y, the shorter wools, especially in scourcds and carbonising Merinos, ami also in slipes of all grade.-, are finding a vastly improved demand. The Continental Terme markets nave moved irregularly during the past fewweek s, but as these can be so largely manipulated by 10-al political affairs they have not much influence on the market, although they have probably been following the slight weakness and irregularity whim has materialised in inferior sorts. The wool supply for this year has been estimated to show an aggregate decrease in the principal producing countries in Australasia and South America of between Si) to 90 million lbs. or 4 per cent., as compared with (he previous season, despite the increase of 3<) million lbs. from the Cape. I he chief decreases are, of course, in Australia and South America. To sum up briefly, the outstanding facts are that consumption was seldom larger, and continues to keep pace with the supplies. The ladies’ dress goods, both in worsted and in fine woollens, i< keeping many of our manufacturers supplied with orders almost beyond their capacity to execute, although the worsted spinning section is finding it difficult to obtain prices adequate to the inherent strength of wool.