GOOD WOOL PRICES.

Manawatu Standard, Volume LVII, Issue 204, 29 July 1937, Page 5

GOOD WOOL PRICES.

WELLINGTON CRUTCHINGS SALE. AVERAGE £l9 12s A BALE. WELLINGTON, July 29. Remarkably good prices were realised afc the Wellington gale of wool crulchings and oddments on July 6, the average for the 4246 bales sold being £l9 12s per bale, or 13.206 d per lb. Of the total of 4431 bales offered, 4246 bales, or 95.824 per cent, were sold. The gross proceeds amounted ,to £83.230, which is the highest figure recorded at a Wellington crutchin gs sale for many years. The results of the sale are summarised by the , Wellington Wool Brokers’ Association os follow: Offered, bales 4431 Sold, bales 4246 Passed in, bales 185

Sold to local mills, bales 56 Net weight, lb 1.512,594 Gross proceeds £B2 230/11/3 Average per bale £l9/12/0 2 Average per lb 13.206 d.

ANTWERP FUTURES STEADY. LONDON, July 27. Wool futures are steady. Latest quotations compare with those previously cabled as follow: — „ July 20. July 27. October 33 j»cl. 33|d. December 33|d. 33 2 d. BRITISH DEMAND. DECLINE IN PURCHASES. Imports of raw wool into the United Kingdom in 1937 have been running on lower levels than in any recent j*ear, according to the Imperial Economic Coin : miltee. The aggregate for the perioci January to May was over 90.000,000]b less than in these months of Inst year. Tho decline was shared equally by both Merinos and crossbreds, amounting to about 15 per cent in each case. Other wools showed a fall of 15,000,0001 b or over one-third. With satisfactory activity in the first half of this year, and considerably lower imports, stocks in public warehouses hay* fallen to the lowest levels recordod sinci; they were first collected in 1933. Activity on the tops market during the first half of June wai restricted, but owing to the supply position at home and the firmness on oversea* markets prices were fairly weli maintained. There was a slight ni crease in business toward Iho end of the month, particularly in crossbreds, but any real improvement was limited by unccr tainty as to the trend of raw wool values. Exports of tons rose from 3,300,0001 bin April to 4,000,0001 b in May, but were nearly 500.0001 b less than in May, 1936. There was little change in the piecegoods section Some repeat orders for men’s wear were received, and deliveries on existing contracts were satisfactory, while interest in worsteds increased eonsioerably in the women’s wear section. Activity was well maintained in the woollen section with tho production of winter fabrics and on summer repeat orders. Substantially larger amounts were sent during May to the United Stales, Canada, Argentina and New Zealand, but there was a sharp decline in exports to Denmark and Japan. Japanese imports of wool in April fell . by 10.000,0001 b as compared with the abnormally high figure* for the* previous month, but rose again sharply in May. Aggregraie imports in the first five months amounted to 187,000,0001 bas compared with 159,000,0001 bin the same period of 1936. and were the highest yet recorded for this period. Exports of tissues fell from 2 600 000 square yards in March to 1 900, 000 square yards in April, the lowest monthly total recorded for more than a year. As a result of this decline aggregate exports for January-April were somewhai below these of last year. The production of wool yarn increased by about 9 per cent.