COMING WOOL SEASON

Dominion, Volume 21, Issue 269, 14 August 1928, Page 11

COMING WOOL SEASON

A HOPEFUL OUTLOOK AUSTRALIAN’S ADVICE TO NEW ZEALAND Dominion Special Service. Auckland, August 13. “If New Zealand wool producers followed the advice of some and concentrated on the production of fine wools I think it would be a great mistake and would involve loss of money. Your producers are carrying along on the right lines with a broader and stronger class of wools, many of the grades being practically ideal and some open to improvement.” This opinion was expressed by Mr. Robert B. McComas, proprietor of the large Australian wool broking firm of William Haughton and Company, and a director of the Commonwealth Bank of Australia. Mr. McComas is returning to Australia by the Niagara after an extended tour abroad. His firm has considerable interests in New Zealand. In the course of his travels, Mr. McComas visited such wool-consuming countries as Great Britain, Belghim, France and the United States, coming into-contact with those interested in the industry. Discussing the future, he said it was most difficult to prophesy the extent of the demand and prices so far as the approaching selling season in Australia and New Zealand was concerned. One pleasing feature abroad was that there was no serious carryover. Supplies from the Northern Hemisphere were now being marketed and might have a slightly depressing effect. “Prices Will Be Favourable.” “It can reasonably be expected that by the time the New Zealand and Australian sales open Northern supplies will be absorbed, leaving a market demand sufficient to absorb the clips of the Dominion and the Commonwealth,” Mr. McComas stated. “This is an indication that prices,will be favourable.” Dealing with New Zealand wool, Mr. McComas said the present quality was tilling a distinc need in the markets of the world. Our wool was broad and strong. What had to be avoided was fleece containing kempy wool, which would not take dyes. Notwithstanding opinions to the contrary, that wool of 70 quality and finer was the least saleable, there was strong demand for 50’s and 58’s, used for strong knitted goods, bathing costumes, etc. These wools formed the large bulk of the New Zealand production and the demand for them had no doubt been a large factor in reducing the price of the higher quality wools. Influence of Artificial Silk. Discussing the vogue of artificial silk, Mr. McComas said he noted the remarkable improvement in the quality of the goods produced, but he did not consider artificial silk as a serious competitor with wool. The temporaiy set-back to the woollen industry could be largely attributed to fluctuating prices, which made the outlook from the point of view of the producer very uncertain.

Summing up his impressions, Mr. McComas said he could see no reason for any lessening in competition for New Zealand and Australian wool .during the coffiifig season.