THE WOOL MARKET

Ashburton Guardian, Volume 54, Issue 194, 30 May 1934, Page 7

THE WOOL MARKET

RECOVERY ANTICIPATED.

OPINION OF A BUYER.

(Special to the “ Guardian. ') DUNEDIN, May 29

Asked to give his opinion, concerning the prospects of the wool market, a buyer who lias had a lengthy experience, not only in New Zealand but in tlie great markets of the world, said; “The market is temporarily very quiet everywhere, and prices have gone back slightly owing to various surface causes, amongst which are Germany’s embargo oil the importing of raw material, the textile manufacturers strike in northern France, and heavy buying at the recent sales, but the outloou is not all cloudy. Germany is short of money just now. That is the reason for her embargo, but she will soon get what she wants. The French strike cannot last for ever, and the larger stocks that were laid in must be used up before long. “In fact, there is reason to believo that the holdings in London are already running out. There is very little carried-over' wool left in New Zealand. Reliable observers think that by the time our new clip is ready prices will recover more or less to the level of March last. The advance that is anticipated will probably help the North Island particularly. The fine wools, of Otago and Canterbury may share in the rise, hut not to so great an extent as the coarser wools in the North Island.”