YORKSHIRE WOOL LETTER.

Dominion, Volume 5, Issue 1551, 21 September 1912, Page 14

YORKSHIRE WOOL LETTER.

'OUTLOOK FOR THE NEW AUSTRALIAN SELLING SEASON. (From Our Special Correspondent.) Bradford, August 9, 1912, Since dispatching my last letter, the July series of London, tales have come to a finish, and everybody was really find to get away home. When a series lasts a full month, the patience of the majority is tried a good deal, and a big strain is put upon the resources of the trade. Manypeople havo had to change entirely th«ir views regarding the latter point, for there certainly 1 seoins to be no end to the consumptive capacity of tho trade. No matter when the raw material is exposed for sale, or how long tho period, buyers are there in large numbers to lift it. One oi the outstanding features of the. recent auctions was the continued satisfactory attendance, and the well sustained purchasing power of tho room. Interest never 'dragged, and the way the wool was absorbed left nothing to bo desired.- American buyers secured fully as much wool as the majority expected, and IS.GCO bales stands out in strong contrast to the "2000 bales they secured at the corresponding series a year ago. One has to go back a good many years to find the United States absorbing anythiug like the quantity they did last series, and certainly the American trade is txKlay quite prepared to take some good weights, and will continue tq do so if the agitation over the tariff only settles. I do not think I can do tetter than epitomise the result of the recent sales, and whon compared with the close of tho previous auctions, the following changes took place:—■ AUSTRALASIAN- WOOLS. Greasy merino, superior, par; greasy merino; average to' good, id. per lb.' dearer; greasy merino, poor.condition, par to jd. dearer; greasy merino, inferior piece.? and locks, par; scoured merino, superior, l<l. per lb. dearer; scoured merino, average to good, Jd. per lb. dearer; scoured merino, inferior, par to Jd. per-)b. dearer; scoured merino, faulty pieces' and locks,'par to Id. per lb. dearer; greasy merino Limbs, superior, par; greasy merino lambs, medium, p-ar to j<l. per lb. dearer; greasy merino lambs, inferior, par; greasy crossbred, fine superior, Id. per lb. (lcnrer; greasy crossbred, fine ordinary, j<l. to Id. per lb. dearer; greasy crossbred, medium superior, Id. per lb. dearer; greasy crossbred, medium ordinary, >'d. per lb. dearer; greasy crossbred, coarse superior, Jd. to Id. per lb. dearer; greasy crossbred, coarse ordinary, nar to Id. por lb. dearer; greasy crossbred lambs,, superior.. par to id. per lb. dearer; greasy crossbred lambs, ordinary, .par; greasy Piinta Arenas, wellconditioned, }d. per lb. dearer; greasy Piinta,Arenas,■ was'ty, par to Jd. per lb. dearer; greasy Falkland islands, par to Jd. per lb. dearer; scoured" crossbred, fine par; scoured crossbred, medium , and coarse, par; slipe, crossbred, fine, par; slipe, crossbred, medium, par. to id. per lb. dearer; slipe, crossbred, coarse, par to id. per lb.. dearer. ... '.. ' . SOUTH AFRICAN. Snow white, super, par to Jd; per lb. dearer; snow white, medium,, par; snow white, inferior, par;,. greasy combing, light, |d. per lb. dearer: greasy combing, heavy, par; ■ greasy clothing, light, par; greasy clothing, lieavy, par.

OTJTLOOK FOR THE NEW SEASON, Many European buyers are going- by this week's boat to bo in readiness to take part in the- coming Australian sea-, son,' which opens-at Adelaide-, on. September 19,'' several .having already gono during tho past three- weeks. When they leave it is the surest sign of a new season , beginning, and a unanimous verdict is expressed that the present ono is going to be a difficult time. Some are shaking their heads a little ominously at the so-called "hijrh prices" for it looks as if the first Adelaide sale will open with 6i's tops at practically.2s. id. per lb. It is rather interesting to know that on September 21, 1911," 64's were quoted in Bradford at 2G}d., the price having come down Id. from tho week previous, while on Ocfober 5, 64's could bo bought at 2Gd. When all is said and done, the difference in values is very small cfimpaTed with the corresponding date of 1911, henco it looks as if : there is not'going to be a very big difference compared- with a yenr ago. It will bo remembered that cables catno to hand stating that 6-I's tops made out of wool bought at tho first sale in Adelaide would ■ cost 2s. "d., some quoting 2s. 2Jd., and there ssems to be a prospect of these figures obtaining next September 19 in tho chief South Australian centre. Of course, a good deal will depend upon what takes place during the next six weeks in Bradford, and although we are passing through the holiday period of the year, I cannot see any indication of values easing much, if any. Consumption appears to be too large to allow prices to decline seriously, although some state that the coming Australian clip,will not be lifted at tb-day's values. No man knows definitely what will be done, and in face of the machinery which has. to be kept going, and a certainty that the coming Australian clip will be at least 100,000 bales less than its predecessor, those taking a reasonable view of tho situation fail to see much chance of values falling.

PROSPECTS OF GOOD TRADE. Nobody will deny that there is a closs connection between supply and ; demand, the call for tho raw material playing , a very important part: in determining its price.- Many buyers are just now embarking for Australia with ihe knowledge that-manufacturing conditions are good, and this can be'said not. only of tho mills of the West Riding of Yorkshire and other parts of Great Britain, but' of Germany and America as well. France also is enjoying a season of moderately good trade, though our latest information is that mills are not so hard pressed with orders as other parts of Europe. In ihe aggregate the consumption of the raw material is large, that being the most favourable factor at the moment. I have before emphasised the fact that the raw material to-day is certainly occupying a very sound position because of the larger quantity of machinory that has to be kept running, and it is quito true that the world's wants were never so largo as to-day. Nobody ventures to say that wool values are dangerous, although no ono ■ likes to see a new season open with 61s tops on a basis of 2s. 3d. Some have already said that we shall see them oomo down to a basis of 2s. Id. for next January delivery, but in face of a reduction in the output, that seems at present a little.doubtful. At the moment there are no signs of any "bearing movement in the n-ear future, although both Homo and Continental users, particularly those at Ronbaix and Tonrcoing, are.awaro of the comparative hiprh values which aro ruling for the combed article. Still, bearing tactics cannot obtain for long in face of that more reliable dictator of values— a universally largo consumption. Wo have, known prices to bo much higher than they are to-day, and so long as trade keeps good there is little likelihood of anything going seriously wrong with the wool situation. Wo aro looking for the raw material being called for in a very persistent way, and while prices are not likely to rise much further, there, is little to indicate a movement in tho opposite direction. DISTRIBUTION OF SUPPLIES. Messrs. H. Schwartze and Co. give tho following particulars of the supplies and deliveries of colonial wool tince the beginning of the year to the end of tho July series, and adding transit wools and direct imports, tho following aro tho particulaK ~ 1912. 1911. . Bales. Bales. Home consumption 869,000 921,000 Continental ;, 1,470,000 1.dT0.000 American „ 91,000 45,000 2,430,000 2,402,000 Messrs. Schwartze and Co. add that the Home consumption appears to be. smaller by 52,000 bales, whilo the Continent shows an increase of 31,000 bales, and America 46,000 bales.