MARKETS FOR WOOL

Auckland Star, Volume LXXI, Issue 178, 29 July 1940, Page 4

MARKETS FOR WOOL

MUCH REDISTRIBUTION. PRICE RISE IMPROBABLE. • • . f * LONDON, July 27. ' There is a good deal oi discussion about the redistribution of the world's raw wool and also the wool textile market*. It appear* increasingly improbable tthat wool prices will advance further. Some South American reports predict that the rearmament programme will create a new stimulus, but the United States purchases •o far have only slightly increased American values. Argentine exports to May were 20 per cent below those of the previous season; The Uruguayan market has suffered severely. Britain's established markets for yarns and cloths have been reduced, but competition overseas from European mills has ceased. It is thought that some valuable new markets may be captured. However, British firms ask' hig'i prices and have no intimate knowledge of markets like those in South America. Bradford circles are again commenting on the growth of direct exports from the Dominions' to foreign countries. It :s believed that Britain's re-exports of wool have been declining for this season. Canadian mills are rapidly increasing production. South African wool growers are urging the Government to investigate the possibility of the erection of woollen 1 mills in South Africa.