WOOL OUTLOOK

Press, Volume LXXIV, Issue 22518, 28 September 1938, Page 17

WOOL OUTLOOK

JAPANESE POSITION Winchcombe, Carson, Ltd., Sydney, in their latest report, dated September 20, state: — . . The well-distributed competition from the Continent, Yorkshire, and Japan experienced for wool, in spite of the presence of uncertain circumstances in regard to insurance rates and general world unsettiement, can certainly be accepted as a sign that wool is wanted. Japanese buyers who did not operate in Brisbane entered with, more strength this week than at any time this season. Japanese stocks of wool were not built up in the usual manner last season. During the first half of each year it is customary for stocks in consuming countries to accumulate to cover the off-season period when consignments are not arriving freely. The lowest point of stocks in Japan was February last, when the , quantity held was 25,700,0001b. By the end of May the stock had only increased by 7,500,0001b. During the similar period of 1937 the total had risen by 45,700 0001b, and the quantity held at June 30 Was a record —103,400,0001b, or the equivalent weight of approximately 344,000 bales of Australian Weight. . , Japanese consumers, therefore, have not the accumulated stocks to work upon which they had a year ago. In that respect prospects of buying for Japan are more favourable than last season, but further regulations have been issued increasing the quantity ox staple fibre to be blended with wool in goods for domestic use. The official reason for that action is the necessary preservation of as much wool as possible for use in military fabrics and textiles for export. Japan has been in a singular position in the textile world during the last year As a result of the decreased cost of wool, prices for mill products have been falling in other countries, but due to war-time circumstances they have risen in Japan. The report of the Tokyo Chamber of Commerce shows an average advance of about 20 per cent, since July, 1937, in wholesale selling figures for wool yarns and textiles. Over the similar period the price of serge in the United Kingdom showed an average fall of 13 per cent.If the world’s fears of war were eliminated, there is little doubt that wool would come into stronger demand. During the last 12 months, the woollen textile trade was in a transition stage. The cost of the raw material had declined, but the essential time had not elapsed for that reduction to extend to retail prices. Retailers had stocks of goods on hand which they were endeavouring to quit with as little loss as possible. That phase is passing. In the United Kingdom and the United States stocks of goods have diminished. Lower prices for goods should give an impetus to business. In the depression years reduced • figures for clothing resulted in the world’s wool finding consumers chiefly through that cause and also by increasing its use in upholstery and other avenues. Developments of that nature enhance the selling position of the raw material and eventually prove a favourable influence on prices.

STUD SHEEP IMPORTS

CORRIEDALES AND BYELANDS

Amongst sheep imported to New Zealand this last few months from the Australian mainland through the New Zealand Loan and Mercantile Agency Company are Southdown. Corriedale. Ryeland, Dorset Horn, Suffolk, and merino. In the last-mentioned breed two sheep—outstanding pedigree rams —were purchased for the estate of the late Charles Goulter (Blenheim) from South Australia, Of the Ryeland sheep imported one was purchased by Messrs Voss Bros., Longburn, Palmerston North, and the other by Mr F. B. Starky, Bay of Plenty. The Corriedale rams were imported for Mr Rayner, of Masterton, and the Suffolks for Mr J, Webb, of Taihape, and the Canterbury (N.Z.) Seed Company, Leeston, while the Dorset Horn sheep were bred in South Australia and Victoria aira purchased by Messrs Langley and Adams, of Canterbury; H. C. Schroder, Nelson; Marist Bros., of Tuakau; Leslie Bros., R. Dysart and Sons, and J. B. Laidlaw—all of Blenheim—B. Selble, Five Rivers, also B. G. Porter, of Oamaru. In addition to sheep and cattle a number of horses and pigs have been Imported from Australia on behalf of New Zealand stud breeders. The export of New Zealand-bred pedigree stock has greatly Increased during recent months, and shipments of animals to nearly all parts of the world have been made. Included in these shipments, made through the company, have been Corriedale sheep to South Africa, Japan, Uruguay, Argentine, Falkland Islands, and Australia; Romneys to Uruguay, Argentine, South Africa, Falkland Islands, Australian States and Tasmania, and also Japan. Lincolns have gone to Uruguay, Argentine, and Australia. Southdown sheep are also finding favour overseas, numbers being consigned to South Africa, Australia, Uruguay, and Argentine, while Leicesters have been sent to Australia and South Africa. Since ‘ the beginning of the year Cheviot and Ryeland sheep have also been shipped to Australia. Aberdeen Angus, Shorthorn, Hereford, and Red Poll cattle have been purchased from New Zealand by breeders in South Africa, Falkland Islands, Fiji, and Australia. New Zealand horses have been shipped to Australia, Singapore, Samoa, and England.