CALIFORNIA FALL WOOL.

New Zealand Times, Volume XXXII, Issue 5215, 8 December 1877, Page 1 (Supplement)

CALIFORNIA FALL WOOL.

(From the San Francisco Bulletin, Nov. 1.) It is perhaps unnecessary to state that the California wool trade is unsatisfactory. Every one interested in the business is aware of the fact, and is not particularly grateful to any one for mentioning it in a public way. We article on hand, without being told about it too often. Still, if we can throw any light on the subject we know it will be acceptable. Owing to the severe drought in most sections of the State last winter, many predicted a very marked decrease in the wool clip this year as compared with last year, especially the fall shearing. It is true there has been a consider, able decrease, but not to the extent that was anticipated in,the early part of the season. We do not know just when the arrivals of spring clip ceased and the receipts of fall clip commenced, though it is known that most of the spring clip was marketed before the Ist July. The figures show that the mouth of July was the turning point between the two clips. They also show that the maximum deliveries of fall clip have been attained. The weekly receipts since July Ist, when compared with the corresponding period last year, show a falling off of over 30 per cent, this year. Last year the fall clip was over 24,000,0001b5. Assuming that the deliveries to date are a correct criterion of the total clip, the fall shearings this year will aggregate 16,320,0001b5. This statement harmonises with the views of a large dealer, who recently informed us that the clip would yield from 15,000,000 to 17,000,0001b5. Over two-thirds of the clip has been received, and unfortunately raost of the wool received is still unsold in the warehouse, while some has been shipped East for account of producers. As a further illustration of the stagnant condition of the market it is only necessary to state that the shipments overland (in September were only 1,540,0001b5. against over 6,000,0001b5. in September, 1376. The plain inference from these facts is that holders are above the market, else the export movement would be more active. Unfortunately the California fall clip comes directly into competition with the short wools from other parts of the country, and as only just so much of short staple can be economically used in the manufacture of the ordinary classes of goods, the fall clip of California does not find so inviting a market as the spring clip. A slight concession in prices might stimulate more activity on speculative account, but would have little influence in increasing the consumptive wants for these grades of wool. Hence it would seem that the only thing for growers to do is to wait'until the demand catches up with the supply. .It is a question for farmers to consider whether two shearings pay better than one annually. While the quantity of short staple produced in the United States is not in excess of the annual wants of the country, the supply is not evenly distributed, and thus some one is obliged to carry these short wools from one to six months in order to equalise the supply with the demand. Probably a little more long staple at the expense of short staple would result in a more satisfactory condition of the market.