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Show Conditions In Wool Markets Boston, Consumption ol woo. by American mills continued to run ahead of 1930 during September, Sep-tember, when 39,714,952 pounds cf wool in the grease, exclusive of carpet wools, was used. A year ago in September the nation consumed con-sumed 31.97ij,750 pounds, or 7 738,202 pounds less than in the same month this year. Consumption for the first nine months of 1931 exceeded the amount am-ount used in the same period a year ago by 59,509,593 pounds. While the nation continued to demand more wool because of fashions trend to wcclens and worsteds, coupled with shortage of stocks on retail shelves, mills seeking to force down the pric;: met decided una successful resistance resis-tance from the National Wool Marketing Corporation, marker -ing agency for 32 cooperative wool-growing associations with 25,000 members. The national repeatedly rejected bids which were below current market levels and thus cstn.blinhede itself as a dominant factor in stabilizing the American market. Some other dealers sold below current levels, a step which has weakened the market price during an unsettled period. Officials of the National pointed out that wool stocks on hand, as of October 15, in the principal wool centers of the United States showed 185.719,805 pounds ol domestic wool. This is based on a report compiled for the Boston Wool trade and includes wool held in Boston, Philadelphia. Chicago, Chi-cago, St. Louis and touisville. Territory, Caliiornia and Texas wools in the grease totaled 131,-781,937 131,-781,937 pounds. Of the total domestic do-mestic wool on hand, 20,928,423 pounds were fleece wool, 6,348,752 pounds of ' pulled wool in the grease and 6,1160,693 pounds were scoured wool. The National estimates approximately approx-imately that of the total domestic wool on hand, 40 million pounaa is strictly clothing wool, leaving 345 million pounds of combin; domestic wool. This is divided for grades with 102 million pounds of fine and fine medium.. 22 million pounds of halfblood wool; seven million pounds oi three-eights blood wool; nine million pounds of quarterblood wool, and four million pounds oi below quarterblood wool. Total foreign wool cf merino and fine medium crossbred on hand was 3,950,258 pounds. With eight months to go before be-fore the arrival of the new clip in wool centers, a healthy situation situa-tion exists for wool at the present pres-ent time and there is apparent reason for offering wool at lower prices, Draper and company, selling sel-ling agents for the National, explain. ex-plain. It is the opinion of the cess students of the foreign situation that regardless of the breadth ot the financial liquidations that is taking place, wool values will res- pc-r1 to at least their present relative re-lative basis," says a statement l'-ivn the scl'.u.'g agents. -The basis is well above parity of domestic wools, so that settlement settle-ment ct conditions in this country., which would put us back on the consumption ba-U I of last summer, would positiolv nf-cessitate importation cf substantial sub-stantial quantities of foreign wool .v,th the result that our ma"!:et cctiKl vorv easily advance 15 to 20 percent to ni'.et this importing basis." ! |