DEMAND FOR WOOL.

Auckland Star, Volume LXIV, Issue 204, 30 August 1933, Page 6

DEMAND FOR WOOL.

Among the influences operating to produce a sharp rise in wool at the Sydney sales, the most important has been the competition of British, French and Japanese buyers. .They have shown a keenness to secure supplies which is in marked contrast with their indifference of recent years. It is a reflection partly of increased orders at the mills, and partly the knowledge that large surplus stocks no longer exist. A substantial fall in Australia's wool production is predicted this year, and if this reduction should prove to be as large as some oi' the forecasts indicate, it ■ may offset considerably the present price, advance, which gives cause to doubt whether j the gain to the Commonwealth will be' £12,000,000, as stated by a Federal Minister. ! The significance of the sale iq that it is definite evidence of improvement, in which this Dominion can be expected to share. The crossbred wools produced here may not benefit to the same extent as the finest grades of Australian, but there is nevertheless good cause for confidence. Prices have shown a rise of from 30 to 50 per cent, and an advance of the same order in New Zealand would mean an addition of at least £2,000,000 to the wool , cheque.