World wool situation

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Title:
World wool situation
Physical Description:
Serial
Language:
English
Creator:
United States -- Bureau of Agricultural Economics
Publisher:
U.S. Dept. of Agriculture, Bureau of Agricultural Economics.
Place of Publication:
Washington, D.C
Frequency:
monthly
regular

Subjects

Subjects / Keywords:
Wool industry -- Periodicals -- United States   ( lcsh )
Genre:
serial   ( sobekcm )
federal government publication   ( marcgt )
periodical   ( marcgt )

Notes

Dates or Sequential Designation:
Ceased with: WOOL-26 (May 27, 1930)
Numbering Peculiarities:
Some issues combined.
General Note:
Description based on: WOOL-16 (June 17, 1929)
General Note:
Latest issue consulted: WOOL-26 (May 27, 1930)

Record Information

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University of Florida
Rights Management:
All applicable rights reserved by the source institution and holding location.
Resource Identifier:
oclc - 631804619
lccn - 2010229455
ocn631804619
Classification:
lcc - HD9894 .A19
System ID:
AA00011233:00002

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Succeeded by:
World wool prospects


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Full Text


S U;NITZD STATES DEPAfRTME2NT OF AGRICULTURE
Bureau of Agricultural Economics
Washington

S01- 17
THE WORLD WOOL SITUATION
July 25, 1929
Prices of practically all grades of wool declined at Boston during
June. Ohio and similar fleeces declined from 1 to 2 cents in the grease
and from 1 to 5 cents scoured basis except for 56's strictly combing, 461s
strictly combing, and common and braid wools which were unchanged. Territory
wools sold 1 to 5 cents lower on a scoured basis in all grades except com-
mon and braid which remained unchanged. The greatest declines in territory
wools were 58's and 60's strictly combing, and 48's, 501s and 56's clothing
which declined 5 cents. Australian wools declined 3 to 10 cents and New
Zealand wools were down 2 to 6 cents on a scoured basis. South American
wools were 1 to 3 cents lower on a grease basis.

The London Wool Sales closed on July 23 rith prices of practically
all grades of wool down 5 to 15 per cent from the closing of the previous
series. Medium and lon grades decline more than the fine. Declines in
the prices of wool tops and yarns have been general throughout Europe.

Wool consumption in the United States is increasing with the mills
reporting a consumption during May of combing and clothing wools 2 million
pounds greater than last May and 5 million pounds greater than the five
year average for May 1924-1928. Carpet Tool consumption was also high and
amounted to nearly 4 million pounds more than during Liay 1928. Wool machin-
ery was much more active than during -May 1928 and carpet looms were report-
ed as more active than in any month in the last four years.

Imports of wool into the United States were relatively low during
May, but the total imports of combing and clothing wool into the ports of
Boston, New York and Philadelphia from January 1 to July 6 were about 3
million pounds greater than during the same period last year. Imports of
carpet wool were about 16 million pounds greater than during the same per-
iod last year.

Exports of wool manufactures from the United Kingdom were somewhat
greater than during April, but not much better than last year. Bradford is
reported to be curtailing the output of yarns, and lo-er mill activity is
general except in the heavy woolen districts.

Stocks of tops have been accumulating on the Continent and are now 8
per cent greater than on June 1 and over 26 per cent greater than January 1,
1929. Stocks of wool, tops and yarns passing through conditioning houses on
the Continent increased considerably during June. Knitting yarns are in
good demand in Germany with unfilled orders extending into January. German
weavers also report business improving. The French wool industry is well
occupied and the market for yarn for export to the Far East is better.
Belgium and Italy report practically no change and Czechoslovakia reports a
decline in new business.








WOOL-17


With increased sheep numbers in the United States and a probable
increase in Canada the 1929 spring clip in these countries will apparently
show a slight increase over that of 1928. Smaller sheep numbers reported
in the United Kingdom may result in some decrease in the next clip of that
country. Several provinces in Australia reported more sheep on January 1
than a year earlier, and except for a dry period late in 1928 pastures have
been fairly satisfactory. There has been some relief from the long period
of dry weather in a part of Argentina, and conditions elsewhere in the
Southern Hemisphere appear favorable for the 1929-30 wool clip.

Boston wool market

The close of May witnessed some signs of improvement in business
on the wool market, but instead of being sustained, the volume of business
fell off early in June and prices on most grades have reached a lower level.
The market on the finer grades especially has been very unsettled, accord-
ing to R. L. Eurrus of the Boston wool office of the Bureau of Agricultural
Economics. Prices have been weak on all classes of the 64's and finer wools
and tae 52ts, i60s qualities of domestic wools. The combing class of the
48's, 50's, 56's grades of domestic wools was fairly steady while clothing
wools showed some decline. As the month closes, these two grades appear to
hold the strongest position in the market while the finer grades remain
unsettled.

Fleece wools

The choice eastern grown 64's and finer quality wools similar to
those grown in Ohio and certain sections of West Virginia and western
Pennsylvania declined in price early in the month. The lower prices stim-
ulated but little increase in sales. After another slight decline to about
38 cents for 60 per cent shrinking wools and 39 cents for 59 per cent
shrinking wools, or about 95 cents, scoured basis, computed on an estimated
shrinkage, the volume of sales increased moderately and prices remained
fairly steady for the remainder of the month.

Fleeces of 58's, 60's grade have been very slow during the greater
part of the month. Prices declined moderately. The best Ohio lines of
this grade have sold mostly in the range of 43-44 cents, grease basis, in
limited quantities.

Fleeces of 48's, 50's and 56's grades, strictly combing wools, have
held fairly steady. Bright fleeces of 56's grade and of strictly combing
length have been steady at the range 44-45 cents, grease basis. Bright
48's, 50's strictly combine wools declined slightly early in the month
but continued steady at the lower level with the volume of sales tending
to increase to':ard the end of June. A fair portion of the business on
these grades early in June was for future delivery but the later demand
was mostly for spot graded wools. The clothing class of 56's has been
fairly active at around 42 cents in the grease and a number of houses have
taken orders for all they will grade of this class for some time ahead.


- 2 -








WOOL-17


Business has been limited on fleeces of 46's and lower grades.
A few small quantities have been sold at steady prices, but wools of
these grades have not become available as yet in any quantity. Dom-
estic woold of these grades are produced in only limited quantities
and during the past two.seasons a ready outlet for them has been found
as soon as they were graded. The last season's domestic clip of these
wools has been well cleared from the market.

Territory wools

The market has been irregular on the western grown 64's and finer
wools and prices have shown a moderate decline. Original bag lines com-
prised the bulk of the sales early in the month, while toward the end of
June a moderate improvement in demand was noted for graded combing wools.
Choice Territory wools in the original bags, consisting mostly of strict-
ly combing staple, sold at 98 cents to $1.00 while offerings consisting
mostly of French combing staple sold at around 95 cents, scoured basis.
Some short French combing lines moved at 93-95 cents. The best Texas 12-
months wools moved in the range 95-98 cents, scoured basis,and 8-10 months
at 93-95 cents, scoured basis, early in the month- Later there was some
lowering in prices on Texas lines and 93-95 cents was about the range at
which most of the wools moved during the remainder of the month, Late in
June several fairly large blocks of Texas 12-mcnths wool were taken out of
the market at around 95 cents, scoured basis. The bulk of the better class
of original bag lines of Territory wools moved during the latter half of
the month at about 90-95 cents., scoured basis, depending upon the length
of staple. Less attractive lines containing much clothing and very short
combing staple were available at prices irregularly lower than this range.

Graded strictly combing 64's and finer Territory wools have been
very slow. Prices declined from a nominal quotation of 98 cents to $1.00,
scoured basis, early in the month to about 95 cents, at which figure moder-
ate sales were closed. Very little business was done on the French combing
class of this grade in the range 94-97 cents, scoured basis, but after
quotations were marked down to the range 91-93 cents, scoured basis, a mod-
erate volume of business was transacted. Clothing wools of this grade have
beeti v'ry slew.

The bulk of the business on 58's, 60's strictly combing Territory
wools was closed at the range 92-95 cents, which is about a 5-cent decline
from the range prevailing at the end of May. Demand for this grade has
been slow throughout the month and sales have been light in volume. Freirh
combing wool of this grade sold mostly in the range 90-93 cents, a decline
of about 2 cents, scoured basis, from the range quoted at the end of May.

Prices have been fairly steady on Territory 48's, 50's, and 56's,
strictly combing wools. Some business on these grades early in the month
was for future delivery. Later demand, however, was mostly for spot graded
wools. The volume of sales of both these grades tended to expand as the
month progressed. Most sales of 56's, strictly combing, have been in the
range of 86-90 cents, scoured basis, and of the 48's, 50's in the range
?7-80 cents.


- 3 -








WOOL-17


Woolen wools dull

S The market has been very dull on types of wool used in woolen man-
ufacture. Prices have eased on both the scoured domestic clothing wools
and on the pulled wools. The noils market has been very irregular with
prices especially on the finer qualities considerably lower.

Top. prices decline
The volume of business in the top market has been fairly good but
prices have shown a further decline which in the case of 58's and 56's
was quite marked. Prices declined about 2 cents on 64's with the oil
combed long staple and the dry combed short staple selling in the range
$1.21-1.23. Oil combed 60's declined from the range $1.24-1.25 to $1.20-
1.21, the volume of demand tending to increase at the lower range of
quotations. Quite a lar,,e volume of business was placed on 58's when
quotations were dropped from $1.17-1.18 to the range $1.12-1.14. After
another decline to $1.10-1.12 the market steadied with a good demand main-
tained throughout the reiain2er of the month. Sizable orders were placed
on 56's when quotations were cut from $1.15-1.16 to $1.09-1.10. The quo-
tations on this grade became somewhat firmer toward the close of the month
although only a fair volume of orders had been received after the drop in
price. Tops of 50's quality were slow with quotations tending to ease
during the first part of the month but demand increased later and a slight
strengthening was noted in quotations which were mostly in the range 96-98
cents at the end of June. Quotations on tops of 48's quality and below
were fairly steady although not many orders were booked. The bulk of the
limited business was on the 46's and 44's grades.

Yarn market quiet

The yarn market is uncertain; manufacturers are buying mainly for
immediate needs and spinners are being pressed for concessions. Worsted
weaving yarns are moving steadily but in small quantities mostly for
women's wear. Sweater yarns are a little quieter but knitting yarns are
attracting more attention than in previous Weeks, especially yarns suit-
able for bathing suits and sport coats. Yarns for upholstery materials
and pile fabrics are moving slowly.

Wool waste

The market for fine worsted waste has tended to become weaker due
to reported increased supply, but medium and coarse grades remain practical-
ly unchanged.


- 4-




































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V/OOL 17


WOOL: Price per pound at Boston, July 1ij2, and May, June and July 1929

: 1928 1929
Grade : July 7 May 4 June 8 July 6

Cents : Cents : Cents : Cents
64's, 70's, 80's (fine)
Strictly combing
Ohio and similar grease: 48 49 : 40 41 : 40 : 38 39
Fleece scoured : 116 120 : 97 102 : 97'- 100 : 94 96
Territory scoured : 118 123 : 100 104 : 98 100 : 94 96
56's (3/8 blood)
Strictly combing
Ohio and similar grease: 56 46 47 : 44 45 : 44 45
Fleece scoured : 101 105: 86 0 : 83 85 : 83 85
Territory scoured : 105- 88 93 : 87 91 : 86 90
46's (low 1/4 blood)
Strictly: com-bing :
Ohio and similar grease: 48 49: 42 43 : 41 42 : 41 42
Fleece scoured : 82 87: 70 75 : 68 72 : 68 72
Territory scoured : 87 92: 72 77 : 70 73 : 70 73

Conr.piled from Market Niovs Reports of the Boston Office of the Burczu of
Agricultural Economics



PRICE: Wool and yarn, per pound, and piece goods, per yard,
June 1926 1929

S Wool at Boston Worsted yarn

1,onth : 64's, 70's : 56's (3/8 :Suiting, un-
and : and 86's : blood) 2/40's : :finished,w or
year : (fine) : strictly : (half blood) 2/2s sted, 1 oz.
: Territory : conbing : crossbred : at mills
wiving
: clothing : fleco : : :
: scoured : grease :
Cent Ce nCts :Dollars :Dollars Dollars


June -
19 26
192 :

192' :


: 1.7J :
l.7j
: 2.74 :
: 1.94 :
: 1.72 :


1.40
1.32
1.5S
1.45


: 2.l9
: 1.31
: 2 .01
: 2. 01


---


- 5 -









WOOL 17


Wool consumption hig

The consumption of wool in the United States during Iay amounted to
48,764,676 pounds (grease equivalent) compared with 43,911,051 last year
and 49,204,924 during April 1929, according to reports received by the
Bureau of the Census from 536 mills. About 53 per cent of the wool consumed
was domestic combing and clothing wool, 17 per cant was foreign combing and
clothing wool, and 30 per cent was foreign carpet wool. The following table
shows the consumption of wool by grades during Ilay 1929 with comparable
data for the preceding month and last year.


WOOL: Consumption in the United States, by grades, May 1929, compared
with April 1929 and lay 1928


Official standards :
of the United States:
for grades of wool:
:M
Combing and
clothing wool -
64's,70's and 80's:
58S's and 60's ....:
56's .............
48's and 50's ....:
36's, 40's, 44's
and 46's .......
Carpet wools ......:


Woo:
___


l consumed 3/


May


193 : 1929
million slillion
pounds : pounds

9.90 : 10.72
4.89 :5.25
4.69 :5.37
4.79 :4.86

2.03 :2.33
10.88 : 14.23


SApril
1929
:Million :
:pounds

:11.88
5.90
4.73
4.87

2.52
:12.88


May : April
1928 1929 : 1929
Per cent:Per cent:Per cent


26.6
13.1
12.6
12.9-

5.5
29.3


26.1
12.3
12.5
11.4

5.4
33.3


27.8
13.8
11.0
11.4

5.9
30.1


Compiled from data in the "Wool Consumption Report for May 1929", issued
by the Bureau of the Census.
9./ These are totals of grease, scoured and pulled wool, as published
by the Bureau of the Census; the scoured and pulled wools have
not been reduced to a grease basis.


The consumption of combing and clothing wool, on a grease basis,
during May D2l9, amounted to 34 million pounds, which is 2 million pounds
greater than during Liay' 1928, and 5 million pounds greater than the 5-year
average for lnay 1924-28.

Carpet wool consumption in :day was nearly 15 million pounds, com-
pared v.,i th 13 million during April 1929, and 11 million during May 1928.


~ _r I~


J. \je U.Jhuu l* V *^ _____


- 6 -


D1~-~~rlnfclrm nC fnfn~







WOOL 17


WOOL COiSU.'=TIO:: Quantity of wool entering into manufacture in 536
mills in the United States, lay 1929

: Weight a/ Percentage
Class of ol Domestic:Foreign Total Domestic'foreign : Total

:1,000 : 1,000 : 1,000 :Per cent:Per cent:Per cent
: pounds : pounds : pounds :

Combing and clothing: 25,944 : 8,066 : 34,010 : 53.20 : 16.54 : 69.74
Carpet ............: : 14,755 :14,755 : : 30.26 : 30.26

Total ......... 25,944 22,821 48,765 53.20 46.80 100.00

Cormputed from data in the "Wool Consumption Report for May 1929", issued
by the Bureau of the Census.
a/ Includes scoured and pulled wools reduced to grease basis by
assuming that one pound of scoured wool is equivalent to
two pounds of grease wool and one pound of pulled wool to
1-1/3 pounds of grease wool.


Wool machinery activity increases


The report on activity of wool machinery during May, issued by the
Bureau of the Census, shows very large increases over last year, based on
the actual number of hours that the machinery was in operation as compared
with the maximum single-shift capacity. 'Woolen spindles were 3 per cent
more active than last year, cards were 6 per cent more active, looms 7.7
per cent, worsted spindles 11.7 per cent, and combs 19.2 per cent more
active. The following table shows the machinery activity during Ilay 1929
compared with April 1929 and May 1928.


WOOL IMCHI:ER.Y: ;;umbcr of hours active in the United States, May 1928
and 1929, and April 1929, expressed as percentage of maximum
single shift capacity

: Mlay
Wool machinery 1: 1 April 1929

: Pr cent Por cent Per cent

Cards .................... : 0.1 66.1 87.3
Combs .................... :. 64.3 83.5 : 81.
Woolen spindles ........... : 78.6 : 81.6 84.4
Worsted spindles ........... : 54.6 66.3 9.7
Looms -
arrow .................. ..... : 3.3 61.0 : 3.5
Wide .............. ...... : 59.7 67.3 70.3
Carpet and rug ........... : 65.1 : 71.9 69.6
From Dopartment of Commerce Report on "Activity of Machinery in Wool
Manufactures during the month of May 1929".


- 7







-8-


Wool imrn:orts during May re la tive Y low

Ir.ports of combing and clothing wools into the United States during
IM;;y .ere relatively low, amounting to 8,327,000 pounds compared with a
five-vyer averagee for May 19: 4-1928 of 10,137,000. However, the total im-
ports of combrrlii and clothing wool entered through the United States Cus-
toms listricts of Boston, iflw York and PhiladelohiP during the period from
J-nua-rv: 1 to July 6 amounted to about 67 million pounds, which is sli:-.tly
over 5 r million pounds more than was received during the same period last
yer. i.ozt of this increase was combing vool.

Situation of the wool industries in Europe

Stocks of wool in the hands of the British wool textile trade are
exceedingly;. light for this time of the year because buyers have been pur-
chasEi-, cautiously in order to take full advantage of the downward trend
of values, -ccording to A. R. Thomson, United States Consul at EBrdford.
The totpl quantity of foreign and colonial wool retained in the United
Kingdom during the 11 months July 1928 to June 1929 was 1,206,000 bales,
which is 2-l,000 bales less than last year, and 90,000 beles below the
average for the last five years. The export of British grown wools this
year is -lso greater than last year and during the five months January 1
to June 1, 1929 the exports were over 3 million pounds greater than for
the correspondin- period last year.

The export of wool manufactures from the United King~omr during i..:,
was much better than April, but for the most part showed very little im-
provement over May 1928. Exports of woolen and worsted yarns during May
amounted to 4,700,000 pounds compared with 2,999,000 pounds during April.
The export of woolen and worsted piece goods amounted to 11,286,000 squ-re
yards "'hih. is considerably greater than the 9,513,000 square yards export-
ed in April 1929 and only slightly under the 11,789,000 square yards ex-
ported in M,;.y 1928. The follo'ing table shows the exports of wool manu-
factures during May 1927-1929 and April 1929.

UNITED KI'IGLO;.: Exports of wool and wool manufactures, May, 1927-1929
S:_----___ Iand A _il 1929____
Ite: Unit 1927 : L 1929 1
Item : Unit : 1927 : 123 1929 : 1929


: : Thnus;nds:
'ocl .................. pound : 5,550
To s ........ .........: 4,443
Yarns, woolen ........: 615
Yarns, worsted .......: 3,881
Tissues, woolen ....... sq yd : 8,482 :
Tissues, '.orsted .....: 2,924
Flannels and delaines : 314
Carpets and rugs .....: 473
Noils ................: pound : 1,614
Waste ................ : 1,6 7 :
'oolen r as .........: "2 7 :


Th'usanDds: Th.ous.nds: Tho'.is-nis
3,04 : 4,311 3,;04
3,2 59 3,413 2,355
515 799 525
4,036 3,911 2,474.
9,886 7,648 6,647
2,503 : 3,638 : 2,?c6
24 : 272 268
477 527 475
1,676 : 2,102 : 1,73'
1,494 : 1,927 1,479
S657 4,088 : 3,702


Compiled from Trade and Navigation of the United Kingdom.





WOOL- 17


London

Prices of wool at the London Sales on July 12, were from 2 to 8 cents
lo'-er on a clean basis than at the close of the last series of auctions on
M .iy 15, n all grades except 36ts and 4O's which were unc}l.-n ed, accordin.-
t :.. c.b ie.ram.T received by the Foreign Service of the Bureau of Agricultural
Eccon:omic from E. A. Foley, Anerican Agricultural Commissioner at London.
S The ,--r:e test declines were on 70's and 64's v'hich were 8 cents lover. Jools
of 60's qualityy were down 6 cents, 44's were 5 cents lower, 56's and 58's
were cents lower, 50's were 3 cents lower and 46's and 48's were down 2
cents. About 15 per cent of the offerings have been withdrawn.

LC.U.D.i WOOL SALES: Prices at .penirjn and clozin, of the wool auctions re-
ported on basis of the Official Standards of the United States for grades
of '"ool, May -n July 1929___
OJfficial United : opening : Closing Opening Closing
St tes sool_ rides: .1.Ay _3 _:__ a 5_ : Ju_ 9 : Ju9_i2l
: Cents Cents : Cents Cents
70's 81.1 : 79.1 71.0 71.0
64's 75.0 73.0 64.9 64.9
60's : 71.0 66.9 60.8 60.8
58's : 60.8 : 60.8 : 56.8 56.8
56's 58.8 : 56.8 52.7 52.7
50's :4.6 43.6 : 40.6 -40.6
48's 40.6 40.6 : 38.5 38.5
46's 39.5 : 39.5 37.5 : 7.5
44's 38.5 39.5 34.5 34.5
40's 37.5 38.5 : 38.5 38.5
36's 36.5 37.5 : 37.5 : 37.5
T-/aul-,ti from reports of E. A. Foly, United St-tes Agricultural Commissioner
at London.

Br'-dford .mr-:et colit inuesE wek

Business continues to be quiet in Bridford. No improvement has been
manifested in the demand for tops and users are buying only vhat is required
for current needs. Consumers of yarns are also being very conservative rnd
all business is on a small scale. Keen competition prevails, amon. the spin-
ners, for the limited number of orders available and this has tendency to
keep prices in the buyers favor, sccordin.- to Consul Tho:-.ion, !t Bradford.

The quantityy of tops handled by the Bradford Conditioning House during
June amounted to only 3,638,000 pounds which is the lowest of any month this
year, and more thpn 800,000 pounds less than during s"-v 1929. Ihe quantity
of yarn passing through the conditioning house increased 15,000 pounds over
last month =nd amounted to 199,000 pounds-

Improved weather conditions have resulted in a brisker trade in light
weih.ht materials, however, there does not p-pe-r to be any prospect of treat
improvement in the national demand for cloths until there is better trade in
the other basic British industries. Price tendencies remain in favor of the
ba.yer with the exception of superior qualities of means' wear.

Hosiery mills are experiencing the usual seasonal inactivity which
ccurs each June after the orders for summer lnq.o'ts wear have been completed
and before the autumn orders are received.


- 9 -







WOOL 17


WOOL TOPS AND YARNP:


Price per pound at i l-vdford on specified dates,
July 1928 Juno 1929


: 64's a/ 5_'s a/
: : : Worsted : : Worsted
Date Sour Tops yarn Scoured Tps yarn
: wool : : 2/48's : :.ool002/ .'s
Cents Cents Cents Cents Cents Cents
19 : : : : : :
July 27 ....: 97.3 : 19.5 139.9 : 57.8 63.9 85.2
Aug 25 ....: 95.3 : 17.5 137.9 56.8 61.8 83.1
Sept 25 ....: 87.2 99.4 133.8 52.7 58.8 81.1
Oct 25 ....: 87.2 97.3 : 127.7 48.7 : 55.7 :: 79.1
Nov 24 ....: 89.2 99.4 : 11.8 52.7 58.8 83.1
D'-- 24 ....: 89.2 97.3 127.7 52.7 57.8 82.1
1921 : : : : :
Jan 26 ....: 87.2 97.3 129.7 51.7 59.8 83.1
Feb 23 ....: 81.1 91,2 :125.7 48.7 56.8 80.1
liar 23 ....: 79.1 : 90.2 :125.7 : 46.6 : 56.8 : 78.1
Apr 23 ....: 78.f 89.2 125.7 48.7 56.8 78.0
!:- y 25 ....: 75.0 85.2 119.6 45.6 54.7 77.0
June 25 ....: 74.0 83.1 117.6 44.6 53.7 77.0

a/ Official standards of the United Staeos for wool and wool tops.


Prices of wool and tops declined at Bremen during June with German
grown wool of A/AA quality selling for 94 cents clean bacis, according to
Acting Agricultural Cormissioner Dawvson at Berlin. Australian tops A/AA
quality declined 2 cents and Buenos Aires tops, medium quality, were 2.8
cents below last month, The market for noils was very good.

Stocks of tops are accumulating and there were nearly 1 million
pounds more crossbred tops reported July 1 than on June 1. Stocks of
merino and crossbred tops amounted to 19,169,000 pounds on July 1, com-
pared ;ith 18,300,000 pounds on June 1, :md 14,648,000 pounds on J _nu.ur
1, 192'9.

'.7orsted spinners report unsatisfactory eimploymont and lack of new
orders. ','colon spinners report satisfctory conditions and knitting yarns
are in good dimiand with unfilled orders ;::tcndiing into next January.
Busln-nss is improving for the German weavers with increasing now business
in fabrics for export.

France

Stocks of tops continue to accumulate and were 2 million pounds greater
on Jul;,' 1 than on June 1 and 8 million greater than January 1. Stocks on
July 1 amounted to 32,540,000 pounds as compared with 30,543,000 on June 1
and 24,224,000 pounds or. January 1. r.cc'oriing to a cablegram received from
Acting agriculturall Commissioner DLv.soni, the demand for tops is improving


- 10 -








,JLCL 17


'- 11 .-


now and some important transactions have taken place. The noils market is
still good but somewhat quieter and stocks have boon reduced. The wool in-
dustry is well occupied and although new sales of yarns for domestic use
are slow, the market for yarns for export to the Far East is bettor.

Italy and Belgium

The wool industry in Belgium and Italy is practically unchanged from
last month. The quantity of tops passing through the conditioning house at
Verviors in June increased somewhat from the low point reached during Ilay.
Stocks of tops hold by commission combing establishments in Belgium and Italy
increased about 10 per cent and are higher than at any time this year.

Intworp wool futures market

The futures market for wool tops at Antwerp, which vwa discontinued
during the war period, was reestablished July 1. The unit of trading is
5,000 pounds net, and tops combed from Australian, South African and South
American wools will be admitted for delivery. Cuotations will be in pence
per pound with minimum fluctuations of 1/8 pence (1/4 cent in United States
currency). The weight will be conditioned at 18-1/4 per cent and the tops
must be cambed by a firm approved by the Chanbre Arb'itrate pour Lainos et
Pugnes, Antwerp, according to the "W/ool Record and Textile W'orld".

WOOL, TOPS AND YARN. Price per pound in France and Germany, specified
dates, 1929

Lction and grade :March 4: pril 3 Mlay 3 :June 1 :July 4

France : Cents :Cents :Cents : Cents :Cents
Tops, Australian -
Morino 64's warp ............ : 107.5 :107.5 : 107.5 97.3
Crossbred 56's .............. : 91.2 :91.2 : 90.2 :87.2 :79.1
Tops, Argentine -
Crossbreds 56's ............. : Q3.1 : 83.1 :82.1 : 81.1 : 75.0
Noils -
Australian marino ...........: 89.7 :89.7 : 90.6 : 92.4 : 81.7
Australian crossbred ........ :75.5 : 74.6 : 75.5 : 75.5 :63.1
Cape ...................... : 90.6 : 90.6 : 92.4 : 92.4 : 87.1
Yarn -
Morino ..................... : 133.3 : 129.7 : 126.6 :121.3 : 115.5
Cheviot ..................... : 88.9 : 89.7 : 91.5 : 89.7 : 88.0
Gcrmrny
German wool A/AA ............. 97.2 : :94.0
Cape wool, medium quality
washed 6-8 months very fine .. :82.1 :82.1 : 79.1
Tops, Australian A/AA .........: 103.4 : 103.4 : 101.4 : 95.3 : 93.3
Tops, Buenos Aires, medium .... : 63.9 : 63.9 : 63.9 : 62.9 : 60.1


Compiled from reports received from 0. L.
Commissioner at Berlin.


Dawson, Acting Agricultural






WOOL-17


- 12 -


Stocks of tops held in commission combing establishments on the
Continent have reached a new high point for the year as is shown in the
following table.

TOPS: Stocks held by Continental commission combing establishments, 1929


Location March 1
- .- ,i u .i


Belgiim-
Merino ....
Crossbred .
Total ...
Gerrmny-
,i rino .
Crossbrel .
Total .
France-
ierino ...


Crossbred ..:
Total .... :


: 1,000 lbs


2,108
2. C3 i


April 1 May 1

1,000 lbs ,000 1'

2,158 2,258
2 229 2..79


: June 1 July 1

: 1000 lbs 1,000 1

: 2,610 2,769
2.714 3.049


bs


: 4,44 : 4,387 4,637 : 5324. 5,818

: 8,591 10,042 10,148 : 10,710 :10,622
: 5,7,4 : 6,146 : 6,841 : 7,590 : 8,547
: 14,35 : 16.188 : 16,989 : 18,300 : 19,169


13,514
13.020


14,484
12,886
27.370


: 15,792 :16,449 :16,744
: 12,990 : 14,094 : 15,796
: 28,782 : 30,543 : 32,540


;.erino .....: 86 : 1,060 1,528 1,515 1,559
Croscbre .. : 1, 442 : 1,349 : 1515 : .8062__ 2097
Total ....: j 20 : 2,409 : 3043 321 3 656
'CPpiled frcm cabled reports from Agricultural Commnissioner at Berlin.

:'OCL, TOiS A.L YA.Ri: Amount passing through conditioning houses at
ralford, Roubaix, Tourcoing and Verviers, 1929


Location : February : ..arch April
____;* __


Bradford-
ool .......
Tops .......
Yarr .......
Roubiix-
'.c l .......

Yarn .......
Tvurcoing-
Wool .......
Tops .......
Yarn .......
Vecrvi.cr -
Woul .......
Tops .......
Yarn .......


,100_ lbs

S 743
: 4,35
: 13

172
4,142
: 1,192

: 1,029
: 6,270
: 1,911


2,.39
456-
657


1,OCO Ibs

832
4,619
144

243
5,243
1,314

2,407
7,747
2,092


3,159
443
813


1, 'O 11l F

909
4,670
173

243
4,244
1,389

2,209
7,601
2,130

3,205
309
7P3


May June

1,OO I.b 1,_000 lbs

875 776
4,467 3,638
184 : 199

214 214
3,898 4,317
1,305 : 1448

2,286 2,564
6,574 7,174
2,158 2,244

2,934 2,687
190 :
756 716


Compiled from cabled reports from Agricultural Commissioner at Berlin and
Consul Thorion at Rrlford.


bs


--






'AOLU-17


An increase of eight per cent in the number of sheep in New South
ii7les and Queensland on January 1, 1'.2; 1 points to another large clip in
Australia for the Il .--0 season, as these Statcs bu,.-ortcd over 65 per
cent of the sheep in Australia in 1923. The dry weather during, the last
half of 1..- may tend to reduce the weight of fleeces somewhat but there
will in all probability be more sheep to shear. In spite of the dry con-
ditions during the last part of I1~3, losses -p2ear to have been corrpara-
tively light, states the "Pastoral Review" for May 16. This is attributed
to the top dressing, of the pastures which improved the carrying capacity.
In addition, a satisfactory autumn (March-May) lambing was expected in New
South 'ales this year, according to the "Pastoral Review" of May 16.

It is reported, however, from British sources that the Australian
ool-Grovers Council and the National Council of r'ool Selling Brokers
jointly estimate the 1:2.-30 clip at 2,585,000 bales, not including 2 3100
bales which the brokers will not handle, making 2,843,000 bales in all.
This has been taken to indicate a decrease in the coming clip as compared
with that of the past season, but it is rather difficult to reconcile a
decrease "'ith the fact that according to official estimates there are
apparently more sh.ep in New South (Tales and Queensland to be shorn this
year than there were last year.

Receipts of wool into store for the first 11 months of the 1??F2-:
season reached 2,646,e00 bales com ared with 2,397,000 bales for the first
11 months of last season, an increase of ten per cent. In New South Wales
alone 1,153,486 bales were received from July 1, 1928 to May 31, 1929 com-
pared with 1,059,426 in 1927-28 for the same period.

Preliminary official returns place the number of s:hee in New South
Wales on January 1, 1529 at 52,700,000 she.~ compared with 48,920,000 at
the same period of 1:28, an increase of eight per cent, according& tc a re-
port of Consul General E. M. Lawton. In Queensland the official estimate
for January 1, 1929 is 18,077,000 compared with 16,642,000 at the beginning
of 1l'8, or an increase of nine per cent, according to the "Queenslander"
of June 13. An increase in shee, numbers in New Zealand is also indicated
as the number of breeding ewes on hand January 31, 1928 was 15,534,000,
and the estimated number of labs marked during that year 13,373,000, com-
pared with 14,832,000 breeding ewes and 13,179,000 lambs actually tailed
in 1927.

In other countries of the Southern Hamis-here conditions ap;j-.r
favorable for the wool clip except in Argentina, although no reliable
estimates of the coming clip are as yet available. Argentina has had
very. dry weather in the province of ulnos Aires for some months although
recently there has been some relief. Sheep slaughter by freezing com-
paniez for the first four months of 1929 have been 20 per cent above the
samc perriod of 1928.

In the United States there was an increase of 6 per cent in sheep
as of J~nuary 1, 1929 to 47,171,000. Breeding ewes at that time were re-
ported at 31,243,000 against 29,414,000 at the same date of 1:-3. It is
also expected that Canada will show an increase in 1929. In the 4 west-
ern provinces of Alberta, Saskatchewan, British Columbia and Manitoba
sheep numbers have almost doubled since 1925, the number in 1928 being


- 13 -










1, i1. ',66 against 531,58t in 1: 25. Accojrdin& to "The Tim.--' of June 3,
1929 thr, clip c.f the Unit-d Kiin, Clom ms,, nrt b: :s heavy as the 119,-.0,000
pounds .,rc.duccd last y,'ar. 'ThIr' 1-. 2 i-P-. figures showed a reduction of
2 per cent, whilee th. number o.f Lre,-din,, e es. on hand were about 0.3 per
cent tbloci the pr:cedin .y,'ar. L -moin t :is ,ar, however, has be n re-- :d
ported as fairly sat isfactor,.

3t,..h'p numbers in 21 countries A/ including Russia reached
42-,CC,0,000C in 1':28, an increase. of 1 -:r cent over 1927, and 8 per cent
over tic a.'Lrage for th five .,:ars 1909-1913. These countries produced
57 ..er cent o.f the estimated j'rld t..til tor th- five years 1921-1925.
In Diro .. and Oceania the ': 2 number re less than in 1i27, the reduc-
tion in Euro.- bcin- fairly gen-rall' 1li1FtrijutEd among the countries,
while in Oceania the reduction was due .rimarrilv to drought in Australia.
Arg,-ntina .nd Urugiay, ooth im ort nt --h,. reducing countries, are not
included in th- totals for 2- countries as esti:nates are not available
for each .,yer. Howver, according to lt- st estimates Uruguay had
22,500C,0,:, see in 1927 corrarc-d "i.tlh I l,-,-3,0i:0 in 1924 and Argentina
at least as man', and ,roc 7Dl." mor- tnan th. 36,20.,000 reported at the
D.cr-mt.r 'l, 192' cen-us.

Stocks and disposals

Stocks in th.? most important .rim-.r,' mrrkcets which have be.n runni..;
consid:ra~tly h.-avi:i-r tiis season than last "-crE greatly reduced by the first
of Jun. and it is not believed that the carryo'-r in Australia into the
1929-30 sc-.ason vill be much lar6,r th-n the carryover into the 1928-29 sea-
son. St.ckis in 4-ustralia at the bL-inning of June were only 29,26&,000
boundz, an increase of only 4 .er crnt over last season at the same time.
Argrnt ine stocks at central roduc. ma.rk.t vere estimated to be 8,563,000
on 11.a,' 28 comiarcd '-ith 5,433,000 last yrar, and a 5-year average of
5,162,000 ,ounds. In Uruguay conser ati'.'e ,--ool dealers estimate that there
"ere about 7,000 biles of the r-.cord clip of 139,000,000 pounds left for
dis.osal on I'.y 31, 1:29 comn:ared "*ith .racticelly no wool left over from
the 1927-23 season, and about 1,000 b-l-es left over from the 1926-27 sea-
son, according to Consul General C. Cirrigan June 14, 1929. Last year
bet'."en l'ay 31 and the end of Se;tember, or the beginning of the new sea-
son, over 5,000 bales -ere shij. ed so that there is still time to dispose
of some of the unsold balance of the cli,:. There is no serious accumula-
tion of stock in the Union of South Africa, except of native wools for which
demand is slot", states the"Yorkshire Otser.'er' of July 1, 1929, quoting the
general managers of the Standard Ba2Lir of Soutn africa. These stocks taken
all together conmrise a very, small r-ercentage c.f the total supply of wool
available from these countries.

Disposals of w'ool in Australia u: to June 1 reached 820,384,000
rounds or 13 1:er cent above 1927-2- for the same period. In Argentina
shipments uj to Ivay 30 rere 264,000,000 -ounds and in Uruguay 101,000,000
.ounds, 6 -:er cent above last year and 14 :.er cent below, respectively.

a/ Canada, United States, Enlarid .ind ales, Isle of Man, Scotland, Northern
Ireland, Irish Free State, lior'vay, France, Germany, Hungary, Yugoslavia, Greece
Rumania, Lithuania, Latia,, Algeria, Tunis, Union of South Africa, Southern
Rhodesia, Philip.ine Islands, Australia, lie" Zealand and Russia.
....


WOOL- 17


- 14 -







WOOL-17


WOOL: Receipts, disposals and stocks 1928-29 clip in primary markets


Australia a/
Receipts:

Disposals:

Stocks on

Argentina
Receipts a


Shipments:

Stocks at


URUJiAY


Cogatry, item and period


i Quantity


: .,000 pounds
From July 1, 1928 to June 1, 1929 .............. :b 820,384
Same period 1927-28 ............................: 728,626
From July 1, 1928 to June 1, 1929 ..............: 791,120
Same period 1927-28 ..................... ......: 700,585
hand June 1, 1929 ...............................: 29,264
Same date 1928 .................. ............ : 28,040


,t Central Produce Market, Buenos Aires -
July 1, 1928 to May 28, 1929 .................:
Same period 1927-28 .................... ......:
October 1, 1928 to May 30, 1929 ...............:
Same date 1927-28 .............................:
Central Produce Market c
On May 28, 1929 ...............................:
Same date 1928 ................................:


Receipts: February 6, 1929 ..............................:
February 4, 1928 ..............................
Shipments: October 1, 1928 to May 30, 1929 ................:
Same period 1927-28 ...........................
Stocks: April 16, 1928. Stocks left for disposal small :
April 11, 1929 ...................................
May 8, 1929 ...............- ...................... :/
Union of Sonth Afrira


98,186
90,459
264,476
248,888

8,563
5,432

121,000
119,000
100,544
116,855

15,872
10,912


Stock /of unsold wool on January 1, 1929 ................: 23,244
S" February 1, 1929 ...............:e 28,319
:iarch 1, 1929 .................. : 22,010
New Zealand : Bales
Shipments July 1, 1928 to May 1, 1929 .....................: 640,000
Same period 1927-28 .............................: 621,000
Sources Australia: Estimates of National Council of Wool Selling Brokers,
published in Weekly Wool Chart, C. F. :.:allett, Bradford, England, June 13,1929.
Weight per bale from Australasian Shipping Bulletin May 31, 1929 and Dalgety's
Annual Review, 1927-28, page 19, Argentina: Receipts, shipments, stocks,
Review of the River Plate. Uruguay: Shipments, Review of the River Plate.
Receipts., Monthly Review March, Bank of London and South Am.erica, Ltd. Stocks,
May 8, 1929 and April 11, 1929, Wool Record and Textile World, April 16, 1928-
May Review, Bank of London and South America, Ltd. Union of South Africa:
Stocks, ?Monthly Bulletin of Union Statistics, January, February, March.
Ne7 Zealand: 1927-28 Exports, Monthly Abstract of Statistics. 1928-29 Wool
Record and Textile World May 23, 1929.
a/ These figures concern only the new clip, i.e., that of 1928-29. b/ Convert-
ed to pounds by using estimate of average weight per bale or 310 pounds as
furnished by the National Council of Wool Selling Brokers of Australia, July-
April 1928-29, the latest data available, compared with an average of 304
pc nrlis for period July 1 to May 30, 1927-28. c/ Stocks of 1928-29 clip are
r.ct .iven separately and the amount on May 28 may include some wool remaining
from the 1927-28 clip, also, if any. d/ No corresponding estimates for pre-
ceding year available. e/ Scoured wool changed to grease on basis of 60 per
cent lost in scouring.
---- ---. -----_-6 -----------


- 15 -


a




UNIVERSITY OF FL3RIDA


3 1262 08861 7674




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