THE WOOL TRADE

Hawke's Bay Herald-Tribune, Issue 203, 13 September 1937, Page 9

THE WOOL TRADE

Our Own Coriespondent.)

Larger Turnover In Crossbred Tops

A NEW WOOLPACK

(From

BRADFORD, July 30. There is a fairly general inquiry for all qualities of tops, and prices for Merinos 'are quite firm. Last Monday cortain topmakers were giving a lead to the rest by asking 40d for warp 64's, and while it was wbll known that such a price was not realisable "within ld to l|d per Ib. wool could not be' bought to bring in tops at less. This fact is impressing itself upon the trade still more to-day. It is impossible to buy good warp wool at less than 34d clean, and as 64d now has to be reckoned for conversion the cost in 'the top is 404d. At the same time business has been done this week at around 37-Jd -for average 64's. There is, tlieTetore, a distinct lag between top 'and wool values, but leading importers view the outlook optimistically. Except for the abatement which will be seen during the holiday period, there is a large output of tops from the combs, and as the next wool-sell-ing season will coramence in Australia in about a month it will not be [ very long before another important test of values will be made. This week's turnover in tops has been mostly in crossbreds. At'tention is being turned to fine qualities because they are more attractive than Merinos for certain puxposes on the ground of price, but there has been moro call for them for the hosiery purposes for which they are regularly used ; 33jd is now wanied for good 58's, and 32^d is being refused for average, 50'e average carded are quoted at 26d nnd 50' s prepared 27d ; 25d has been realised for 46' s carded. Yarn Prices Firm. Yarn prices are very firm. In botany counts this arises from the iinprovement in the demand for worsted dress fabricK. Fine crossbred counts are aelling better owing to difficulty experienced iu making cloths at the required price when botany is used. As the holiday period has commenced business will slow down, but it is expected that prices will keep fully firm. The only uncertaiu element arises from the possibility of military needs creating a bigger call for crossbred wool, in which case Merino would be less secure than it seems to-day. A number oi tares made by Mr G. H. Baddeley, of Bradford and sent out to the Cape for experimental purposes, have been returned containing wool. They had stood tlie rough handling rcmarkably well, and the oulv "break'' was a cut made by the Customs authoritiqs. Othcrvvise the tares i were as good as when they left Bradi ford. The objeet which the patentee of these tares had in view when he started making them was to overcome I the "jule in iwool" problem. They ! are made of wooL and paper, and have ! sufficient "board" to prcvent slipping j when the bales are piled, and to prevent dust getting into the wool, Mcdium crossbred wool is used, but the cost can be reduced by usfrig a lower quality. The tares are receiving the attention of the Wool Pack Committee of the British Wool Federation, and, tljough they will cost more, this is outweighed by their greater suitability as woof containers. Increased Exports to U.8.A> The "United Kingdom trade and vigation accounts for June showed a big increase in exports to the United States of home grown and iforeign and eolonial wool during the first six months of this year, compared with the corresponding, periods of 1939 and 1935. Exports of tops and woollen worsted yams to the States are not given separately but a bigger trade has been done in woollen and worsted fabrics. American customers have, of course, had to pay considerably more in English currency for goods taken during the past six months than in the corresponding periods of 1936 and 1935 but the expansion in turnover is refiected in the following table of values of exports of the goods named above:

That the United, States' interest in our manufactured goods is as great as ever is shown in the increase in imports in 1936 and 1937 compared vvith 1935. The values of our exports of woollen and worsted tissues to the States during tlie first six months of this year was £835,5.12, an increase of £254,309 on 1936 and an increase of £446,575 on 1935.

Jan.- Jan.- Jan.June, June, June, 1935. 1936. 1937. £ £ £ •English wool 209, 46S 332,072 753,524 Foreign and colonial wool .. 137,599 196,722 511,212 Waste ... 6 133 66,076 137,497 Noils .... 88,938 311,730 430,288 Woollen cloths 281,797 435,201 631,389 Worsted cloths 107,140 146,002 204,123 Total . . . 831,075 1,4S7,S03 2,66S.033