NEGLECT OF CROSSBREDS

Daily Telegraph (Napier), Volume 59, Issue 261, 6 December 1930, Page 3

NEGLECT OF CROSSBREDS

LONDON ADVICES FOR HAWKE'S BAY GROWERS. PROSPECTS FOR JANUARY SALES INTEREST CENTRED ON FINER WOOLS. "Sincc the close of the last series, the demand in Bradford and elsewhere for crossbrcds has shown no signs of improvement, in fact the present price level is almost nominal. The vei'y attractive level to wliich Merinos liave fallexi has had tlie effeet of centring practicallv all the interest in tliese liuer sorts to tlie neglect of crosshreds." Thus, an extract from a letter received by a well-known firin of Hawke's Bay woolbrokers from their London agents, under tlie date of Octoher 31 and kindly banded to me for publication. The letter, wliicli at tlie present stage, should be of considerable interest to Hawke's Bay growers, continues that it is of conrse more difficult than ever to forecast prices. The letter continues : — • "We do not like giving any advice to owners on tbe question of wliether January will be a better sale than Decemlier. It seems to us that the future of prices is more relative to world wide trade prospects tlian to wliat may happen in tlie textile trade itself. "There is 110 doubt that tlie present position is a very sensitive one and prices have reaelied that stage when a vise sliortly might he considered withiu the realms of probability. However, so long as Merino prices sliow 110 signs of improvement, there is no possibility of a similar occurrence taking place in crossbreds. "As an actual fact, tlie difference in levels between tlie two qualities is relatively small and _ while Merinos remnin as they are, it is generally considered that crossbred prices should fall further. "Anotlier factor that must he taken into aecount is that, from next month onward, supplies hoth from New Zealand and South America, will he increasing considerably and in the present state of the market will he more than ample to supply this demand."