PROSPECTS FOR WOOL

Press, Volume LXXVII, Issue 23302, 12 April 1941, Page 6

PROSPECTS FOR WOOL

INCREASING OUTLETS Although the general demand for wool from the world’s consuming centres is considerably less than in peace time, it is by no means at a stand, still, says the weekly circular of Winchcombe, Carson, Ltd. The orders received and shipments made from Australia to the United States up to mid-March, were 616,000 bales and considerably more supplies will be exported to that country in the months ahead. , Shipments have also been made to Great Britain. The United Kingdom, however, took 1,878,796 bales from Australia last season, and extensive quantities from other large Good stocks were, therefore, built up. The English imports have not been as great this season from the Commonwealth because of the need for vessels for more urgent work. It is quite possible that the Australian mills will consume more than 400.000 bales during the current 12 months as a result of the demand for their goods on government and civilian account and also for the Indian Army. In addition, Canada, India, China, Turkey, Greece, Egypt and Japan have in the aggregate bought substantial quantities. The amount of wool sold for those purchases will not equal a year’s production, but the accumulated stocks will not be as great as might be expected under the circumstances prevailing. It has been estimated that this season’s clip produced in the Southern Hemisphere which included Australia, South. Africa, New Zealand and South America, will show a reduction of 320.000 bales. That will assist the stock position. The importance of the Australian mills in helping to consume the wool being produced in the Commonwealth is worthy of note. Their average consumption for the five years ending 1913-14 was only 79,639 bales. The total is now approximately five times greater. From several standpoints, they have provided distinct advantages. They have contributed to national needs by providing fabrics, yarns, etc. In that respect they have decreased the necessity for imports, which for financial reasons the Government is anxious to curtail. Their production of textiles has saved considerable expense in overseas freights,, insurance, etc., and in shipping space. In addition their activity has provided a ready, quick means of using the nation’s staple product. Farm land in England has been selling at high prices, in spite of the "blitz.” The latest issue of the “Farmer and Stock Breeder” announces that £IOOO has been paid for 10 acres of pasture land, and £2025 foi* three enclosures comprising about 28 acres. One farm of 132 acres brought £7IOO at auction and an estate of 1592 acres tealised £40,315. Another of 206 acres realised at auction £13.500. and still another of 117 acres £BSOO.