CRUTCHINGS PROSPECTS.

Evening Post, Volume CXIII, Issue 127, 2 June 1927, Page 11

CRUTCHINGS PROSPECTS.

In view of the approaching sales of wool crutchings in the Dominion, Japan being a most important buyer ■o£ such, wool, the following remarks, of Messrs. Winchcombe, Carson, and Co., Ltd., on the situation may be of interest to growers:— "The wool trade was fortunate that the monetary crisis which' developed recently in Japan did not rise earlier.- Undoubtedly, Japanese buyers were chiefly responsible for the specially _ buoyant prices secured for fleece wools in February and March. The importance of their f.ompetitioti on the market generally cannot be over-stressed. The mills in the country have lower operating costs than those elsewhere and when they want raw material are, therefore, in a position to force bidding. Strong efforts are being made to restore stability in the Japanese banka involved and it is to be earnestly hoped that the measures taken will prove successful. Fortunately, four months will elapse before any large offerings of wool will be available in Australia. During that .period it is probable a restoration in the financial situation will be effected."