BRITISH WOOL BUYING

Evening Post, Volume CXVIII, Issue 50, 28 August 1934, Page 12

BRITISH WOOL BUYING

Great Britain is, and always has been, Australia's bast customer for wool, state Dennys, Lacellcs, Ltd.. Melbourne. They add: "Whatever pace Great Britain sets, the rest of the world must follow. Just about enough wool is, however, grown each year for humanity's needs, and wool passes into hundreds of trees, besides ordinary textiles, co that no matter what embargoes or limitations are put on by other countries other than Great Britain, they must of. necessity import sufficient for their own requirements, otherwise textile machinery will remain idle aud their people go ill-clad. There is little doubt that the world will take all the merino and extra fine crossbred wools that are available, and at good values. The coarser grades may not fare so well, but, with a very slight improvement in world trade, their turn may come, and, perhaps, sooner than is expected. Despite the setback in value, wool, the company says, is still a good deal higher than it was in the three years of depression, and a not too optimistic view is that it is more likely to go up than to go down."