POSITION OF WOOL

Auckland Star, Volume LXVIII, Issue 29, 4 February 1937, Page 4

POSITION OF WOOL

VALUES SHOULD HOLD. In their circlar dated January 26, Messrs. Wincheombo, Carson, Sydney wool brokers, state: — " Though values for wool have recently steadied, the position in all quarters encourages the belief that the Australian clip ie likely to continue finding ready buyers at gratifying prices. Consumption has not only increased in the United States and Great Britain but ako on the pontinent. "At Roubaix-Tourcoing, France, the •stocks of tops on hand at the close of November were only 16,860,0001b, the lowest quantity recorded for 11 years. Similar conditions prevail elsewhere. Arrivals of thie season's wool will tend to send supplies upwards at manufacturing centres during the next few months, but, if turnover in manufactures ie maintained, the increase in quantities on hand will be temporary.

. " It must be admitted that the millions boing spent in rearmaments are appreciable contributors to the high rate of wool consumption recorded. Naval and military forces are being increased, and must be clothed. The wages being paid in the production of armaments are aleo increasing public purchasing power. Whilst that expenditure is maintained wool and other products appear certain to command good prices. " Apart from that aspect, business in most countries has increased. On all scores, therefore, the outlook for the sale of the sheep's staple is promising."