CONFIDENCE IN WOOL

Gisborne Herald, Volume LXVI, Issue 19980, 4 July 1939, Page 2

CONFIDENCE IN WOOL

GOOD GENERAL DEMAND PRICES NOT ADEQUATE SHIPMENTS OF TOPS ’Cause for confidence in the wool position is supplied- by the brisk general competition- experienced at the final Sydney sales -cf the season, reports Winch-comtoe, Carson, Limited, wooltorokers, Sydney. -Demand during the selling year has not at any period shown better distribution and keenness. The activity applied not only to fleece wools, tout extended lo crutchings and other oddments. The price level cannot toe regarded as providing adequate returns far covering growers production costs and moderate profits, but at -the (basis prevailing the sheep’s staple was in lager inquiry. Higher Bradford Values Reports from Bradford also are more cheerful. -Average 64’;; Merino tops at 25d are on the best level recorded since last March. .Crossbreds are Id dearer than in -March, fine crossbred DO’s tops toeing quoted n't 20d and medium crossbred 50’s at 18d. Values for crossbreds relatively have been higher than Merinos for the whole of the season because of the large consumption of them for uniform purposes.

Shipments of tops from the United Kingdom bear evidence of that development. During the three months ended (March, ‘British exports of crossbred tops were G,57-G,0001t0., being 2,118,0001 b. more than for the first quarter of 1938. Merinos exported totalled 3,096,000 lb,, an increase of 723,0001 b. Exports of British-grown wool, which is all crosslbred, for the three months ended iMarch were 10,020,0001 b., the total toeing 4,508,0001 b. greater than a year before. The increase was chiefly caused toy the much larger quantity shipped to the United States and, to a lesser extent, 'Germany. Larger American Purchases ■Since the 'reduction in the duty on British 'goods entering the United -States, the latter has increased her purchases of English fabrics. Great Bi’it'ain’s exports of 'woollens and worsteds 4o America, from January 1 lo March 31, totalled 2,881,000 square yards, toeing 1,337,000 square yards more than 12 months previously. Those imports do not appear to have hindered the activity of the mills in the States. With n large domestic clip, America cannot 'be among the greatest wool importers, but the additional influence which a moderate to large American importing year has on competition in comparison with 'a light period is actual [y greater than the ’figures convey. If America is ‘buying freely, advanced values arc usual.