PRICES OF WOOL.

Ashburton Guardian, Volume 59, Issue 44, 1 December 1938, Page 5

PRICES OF WOOL.

WILL PROBABLY REMAIN STEADY. THE OUTLOOK IN BRITAIN. (Special to the “ Guardian.”) CHRISTCHURCH, This Day. The impression that prices for wool during this season will probably remain steady at about their present level was gathered by Mr Herbert Hill, of the wool buying firm of Walter Hill and Sons, who has returned to Christchurch after a trip to England, the Continent, and America, which lasted seven months. Mr Hill said he could see no reason for expecting a decline in prices, but could also see nothing that would make prices rise very much

When Mr Hill was in America three weeks ago the position looked hopeful for more extensive, business .with olie United States in wool this season, but so far this biisiness had not fully materialised. It was probable, he said, that more business would be done this year than last, but the total would not be great. The tariff was still a great handicap to buyers in the United States. American buying would probably again be mainly of- low Wools. The British wool textile industry was working generally" only about half-time, but there was not a depression in the industry. Recent international readjustments’ had affected many of Britain’s markets, such as those ,of China and Czechoslovakia, and the British industry had .to look for new outlets. Stocks of wool were not heavy in Britain, and the steadiness of prices, had been an encouragement. Those in the industry were not looking for a depression, but were reasonably sure that there would he no large appreciation in prices.