WOOL PROSPECTS.

Evening Post, Volume CIV, Issue 76, 27 September 1927, Page 12

WOOL PROSPECTS.

Growers in New Zealand, although in tie mam producing a wool different from Si*" 11? "i Austra ia, are nevertheless Sere -k lnv he S^V* o£ the m"^ there. The New Zealand selling season root* ii NoX emhcr- aDcl Prospects for reasonable \returns to' producers are eneouragmg. The market, however, does no. appear to warrant placing inordinately high reserves on the wool. Values in bydney this season for the fiist series ■? r°--SS.& er w15, lnor<i than the average for 1926-27, but the opinion appears., to be held that because wool values have risen prices are not necessarily furnishing growers with particularly- high returns. Returns per sheep to pastoralists are smaller than they were last year owing to the reduced cut of wool shorn pe!r head. Profits are in most cases diminished considerably as a result of the .extra expense incurred in combating drought. The keen demand for wool from Germany experienced so far this season is a reflection-of the- manufacturing conditions which early .August mail reports indicated existed in that quarter. Machinery requirements wese keeping abreast of raw material supplies.', In order to secure their needs, millmen had placed" extensive orders for semi'mannfacturers in Great Britain, for delivery up to as much as three months ahead. Dearth of "supplies is the force behind German bidding.