CROSSBRED WOOL

Evening Post, Volume CXV, Issue 72, 27 March 1933, Page 10

CROSSBRED WOOL

A DIFFICULT PROBLEM

Dalgety and Co., commenting on the last London January-February -wool sales, make special reference to the position of crossbred wools. The firm thought it satisfactory that 120,000 bales out of a catalogue total of over 133,000 could be taken by the trade. "The facts that in the primary markets the • selling season is so well forward and the clearances are so good, lead one to hope that there will be only a small carry-over, from the end of the present selling season," Dalgetys remark, and continue, "Wool is so cheap today that a use for it has been found in many new directions. In other words, wool is extremely popular. "What we should like to see, however, is a better demand for medium and low crossbreds, which have now no share in the rise which, has 'taken place during the last series. These descriptions of wool are, if anything, rather cheaper now than they were at the close of the last auctions. It is rather interesting to note that m the carry-over figures' from th" present and the last series, the totals are within 500 bales of each other, namely, 43,000 bales from these sales and the total from December was 42,500 bales, but in the case of the latter figure 31,000 bales °£ these were New Zealand wools and 11,500 bales Australian, whereas today the quantities are different, namely 15 700 bales of Australian and 27,000 bales of New Zealand. .

Therefore, some inroad, at any rat* has been made on the stocks of crossbred wools on hand. At the moment, there is some slight weakness reported in the market at the Australian sales, and this is reflected in the quotations for tops here, which are not quite as steady as they were. It appears that the volume ot business at the manufacturing end of the industry is disappointing, and even lower prices do not bring out much) if any, new business." .