OUR YORKSHIRE LETTER.

Otago Witness, Issue 4030, 9 June 1931, Page 23

OUR YORKSHIRE LETTER.

HEALTHY SITUATION AT LONDON SALES. VALUES SUBSTANTIALLY ABOVE JANUARY LEVEL. (From Our Special Correspondent.) BRADFORD, April 2. The second series of London sales have closed, and the result must be regarded as satisfactory. A big quantity of wool has been cleared, and there has been healthy competition all along the line. Values generally are left around th opening level. A slightly hesitant feeling has been observed in Bradford, but this has to be attributed to the fact that spinners have filled the bu k of their requirements tor some time to come, and topmakers being unable to sell freely has created questionings in some quarters as to whether wool would hold its own. It must be emphasised that this slackening is not likely to be more than temporary, and anyone broad y considering the question of wool supplies and consumption must see that the outlook is as good as ever. No doubt there are fairly large stocks of wool and tops on the Continent, but everything points to these being absorbed, and to the current Australian clip being well out of the way before another begins to come forward. This is an important consideration. and the way wool is moving in Australia shows that there are some very good influences at work. France has been a large buyer in South Africa, where a higher level has been reached for all descriptions of merinos. The outlook for the industry as seen from the London and Bradford standpoint is not by any means made any worse by the fact that a rather quieter tone has developed. Topmakers have big quantities of the combed article to deliver, and spinners need an opportunity to wipe out the bulk of the yarn contracts standing on their books. BIG WEIGHT SOLD.

During the last few days there was not quite the same keenness among buyers at the London sales as during the first fortnight, but as some rather big reserves were put on wool bought in Australia with the* object of turning it into cash in London, the withdrawals need not be regarded seriously. A big weight of wool has been sold, and the general advance of 15 to 20 per cent, compared with January reflects the greatest credit upon home and Continental buy< rs. Anyone who has followed the course of events in Coleman Street must have got the impression that wool is still likely to be wanted. Before another series commences values for tops may ease slightly, but the outlook for merino wool is none the less good. All the wool of 60s quality and upwards now in sight will be wanted before the next Australian clip comes round. No weight of this will be available in this country before next December. Notwithstanding heavy offerings it will be found that the quantity held over is not excessive, and to dear 130.000 to 140,000 bales of all descriptions during one series is a most creditable achievement. Continental buyers are to be congratulated on the way they come in just at the time when a little extra impetus was needed.

No doubt there was increasing confidence among English buyers, these watching with no little interest the way in which wool has been picked up in Australia, New Zealand, and South Africa. The following are the prices for certain grades of scoured and greasy wool at the last series, compared with the lowest point of the January series and the end of December, 1930. The significant point is that the particulars refer to wool withdrawn last December, and again in January, not being sold until the March series this year. It should also be borne in mind that the prices in the first two columns represent what buyers were prepared to pay, and what sellers accepted for similar wools which fell to the hammer. For nearly all descriptions the loss between December and January has been more than recovered. Even yet the price at which wool can ’be bought enables tops to be sold at less than in the ear’ier part of 1914. when, so far as could be judged from a trade standpoint, business was pursuing quite a normal course. The fact that wool and tons are still so cheap is the chief reason for no serious reaction being expected:—

DETAILS OF ADVANCES. Lowest End point of March o f Dec., Jan. series, series, 1930. • 1931. 1931. d. d. d.

The following shows the advances in a large number of descriptions of merino and crossbred wool at the close of the series, compared with January:—Greasy’ merino—superior, lid to 2d; average to good, lid to 2d; poor condition, Id: inferior locks and pieces.. Id. Scoured merino—superior, 3d; average to good, 2d; inferior, IJd to 2d; faulty- locks and pieces, lid to 2d. Greasy merino lambs—-

superior, 2d; medium, Id to Ijd; inferior, Id. Greasy crossbred —fine Superior, 2d* fine ordinary, lid; medium superior 2d* medium ordinary, IJd to 2d; coarse superior, IJd; coarse ordinary, lid; lambs, 2d. Scoured crossbred—fine, Udmedium and coarse, lid. Slipe crossbred lambs—fine, 2d; medium, lid to 2d’ coarse, lid to 2d; faulty, 2d. Greasy 1 unta Arenas—well conditioned, 2d’ wasty Id to 2d Greasy Falkland. Islands' 13<1 to 2d. Cape snow white—super Westerns, 2d; super, lid; medium, lid: inferior, Id to lid Cape greasy combing light. Id to Ijd; heavy. Id: greasy clothing—light, Id; faulty, Id. b Y

TASDIANIAN WOOL.

The Tasmanian wool offered durin" the series deserves special mention, for there has been an unusually large quantity of it, and excellent prices have been paid though occasions may be recalled when such wool has sold at considerably more money. In some cases those who consigned to London after withdrawing their clips from the Tasmanian sales will have done very little better. It is now too late to make much comment about the values realised at Hobart and Launceston last January, though it may be said that judging from the price catalogues received, this wool sold quite as well as anything offered in other markets. It may be recalled that O/ROC made up to Poti n the o K ni e ? se ’ L/R °C 30id and -9 a d. Downie 29id, and Valley Field 24d. Buyers often wish they had more Tasnanian wool to go at, for the softest and best quality merinos and crossbreds are ound amongst it, but apparently’ more sheep cannot be kept, or prices do not o,ra ße an increase. This series in London HF/Merton Vale made 21d for greasy combing and other lots 20d to 17d. Broken sold at 15d down to P> ec es lUd to lid bellies Hid, and locks -7 1 quabtv of this clip was fully 80’s, Condition° We Th e e XCe leUt breediia Z a « d light ? i i greasy comeback wools lAf lt° d ® ]l Khtful. The top lot made 10M °TA r lotS 14id 133 d. 1 and pieces of wl.; i *i Sreasy combln g of ENC/Ross, ot which there were 350 bales, sold up to 101 °b h r- Io ™l 6 ? d 14d - P ieces 12 > d to lOd, belies and lOJd, comeback is'dn?” 13 iij nd cros, shred 13jd to 12d. pieces lid, and bellies 9d. There wa<» plenty of competition for these, though fetched a'A °! f t7le top J ots m ’Kht have (195 bnL? le i I?O 7’ The D ”nedin eHp (190 bales) realised up to 18d for the 14d a fl COm i b 4 , i§’ °t ,ler lots making 17d to 14d fleece 14Ad, pieces 13.1 d to lOd. bellies lUd, and greasy comeback 12®d and 124 d acter Ch AftX S good . qua lity and charnLL- After this series we shall probably see no more Tasmanian wool offered except a lot or two. until another -eason. If ENC/Patterdale is offered it wi.l be an exception. All the above are good prices, and yet they are very reasonable compared with 30d which was frequently paid up to two seasons IS H is a good thing to know that therf is no fa hng off m quality, character or condition, for still better prices than these mentioned will be paid. There are manv XT W Thi OVV th X meri l s of TasmSian f-ietiirers 1 seil cs West of England manufand HmbJeSfi competed with Bradford and Huddeisfield spinners in getting a share of the offerings, and all these will tunit’y! 116 market again at the first oppor!

—Queensland Scoured.— 7O’s Av’ge combing fairly free . . 20 13J 21 64’s Av’ge combing fairly free - . . 19 13 20 Nearly free 64-76's, generally sound pieces, s I i gh t stain . .• . . 14-15 11 16 Nearly free 64-GG-s, bulky locks, slight stain . . 101 8 13 —New South Wales Scoured.— Nearly free 66-70's white pieces . ; 19 13 18 Burry 64-70’s pieces white, S2-84 per cent combing 13 10 15 Burry 64's . white locks .... S 61 11 —Victorian Scoured.— White, free, sound, skin 66-64’s 18-19 14 IS Stained 64’s combing pieces; practically free, dry 11J 9 13 —Adelaide Scoured. — White, free combing 64’s .... IS 13 20J Stained, practically free combing, 6460’s pieces . . 11-12 9 13 —Queensland Greasy 70’s.— Free, 1-llin . . 17 13 20 Free, lin . . . . 14-15 11 145 Victorian and W.A. Greasy 64’s. — Free, lj-21n . . 16 12 19 Free, lin .... 12 9 15J