WOOL AND BUTTER.

Auckland Star, Volume LVIII, Issue 45, 23 February 1927, Page 8

WOOL AND BUTTER.

The trend of prices at the local -wool sales on Monday brightened the commercial outlook. The offerings were affected by restrictions imposed by the Wool Committee, which pressed not quite fairly on Auckland, and it seems a curious policy, when th -e is better demand for wool, to act in such a way that a large amount of wool is held over. However, prices ruling were very satisfactory. They were higher than those at the latest Wellington sales, and materially better than those at the November sales here. Bradford bought the bulk of the wool, but there was substantial buying by Germany and France, and the French purchases gave point to recent statements about the development of the woollen industry in that country. The activity of Bradford buyers is another welcome sign that Britain is recovering from the effects of the coal strike.

Unfortunately this appreciation in woo! has synchonised with a sharp drop in butter. The Dairy Board quite recently raised the price from 174/ to 176/, and, of course, New Zealand farmers were pleased. Now the price has been lowered to 168/, and there is no certainty that it will not go lower, for new season's butter from several countries will shortly come on the market. Uncertainty is perhaps the worst feature of the outlook. The Board has until now kept up the price, but has not sold as much butter as was expected. The position in which it finds itself to-day is such that there is bound to be fresh criticism of its policy and renewed doubts about the wisdom of control.