WOOL PRICES.

Auckland Star, Volume LXVIII, Issue 271, 15 November 1937, Page 6

WOOL PRICES.

More than usual interest attaches to the first wool sale of the 1937-38 season, which will be held in Auckland at the end of next week. The prospects are regarded in official circles as bright; the Abstract of Statistics says that a slight easing in prices is anticipated by some observers, but the statistical position of the industry is sound. On the other hand, one of the French buyers who has operated for nine seasons in New Zealand is of opinion that Japan is an unlikely buyer. But the Japanese have gone to considerable expense to establish a trade route to New Zealand waters for their ships. Wool is a very useful back cargo, and it will not be lost by the shipping companies if they can avoid it. A visiting Japanese journalist recently computed Japan's requirements from New Zealand at over 50,000 bales, and while there may be a carry-over from last year's heavy purchases, the mills will require a great deal more if they are to be kept going. English nnd Australian markets have shown an easing tendency, but last year's prices were very high. It most be remembered that last November's rates were regarded as very favourable to the seller; prices subsequently rose to a considerable extent, and if the season opens no higher than it did last year the woolgrower will still be in a very happy position.