VALUE OF WOOL

Evening Post, Volume CVII, Issue 128, 4 June 1929, Page 12

VALUE OF WOOL

WHAT OF' THE EUf UKE I

Messrs. Winchcombc, Carson, Ltd., Sydney, write: We consider circumstances warrant a conservative attitude with wool prices, but we are not in accord with over despondent ideas as to the future of the staple. The. wool market is not without its: brighter --'spots:- Their possibilities do, not want to be exaggerated, but by the same token black clouds cau be overemphasised. Some utterances would foster the belief that wool is in as bad a position ite in 1921. :'Af:that iime Ba,wra. had about 2,600,000 bales on iand, Australia and other countries had about half a year's clip unisold, and another on the sheep's backs. ;A general, financial and commercial debacle occurred, was difficult-to sell. ' ■ Whatever disapppintinent recent values may have given, wool has sold in good quantities. The current situation.ais not comparable to; the slump period quot-. cd. Trade in most commodities has eased over the last few months, but it lias uot completely lo&t "its punch. The present position-may only, prove temporary.: It is impossible to. definitely gauge when ' a strong"revival is likely. -Any week or.any. month may see it. We are of the opinion that consumers, will want supplies when they are available in bulky quantities some months hence/ But we do not wish to mislead growers with what may prove false hopes in regard to prices, while the world is' producing the large clip it" grew this season.-. Short "supplies are necessary to force high values* ■■■:-■ .-: ;