FUTURE OF WOOL

Evening Post, Volume CXIX, Issue 129, 3 June 1935, Page 12

FUTURE OF WOOL

PRICE AND SUBSTITUTE

After reviewing the reasons which caused marked fluctuations in the price of wool during the current season, the chairman of Younghusband Ltd. (Mr. G?A. W. Stewart), at the annual meeting of shareholders recently held in Melbourne, said that at the concluding sales of the regular selling season last we>k all sections of the trade were keen, even France and Germany being anxious to obtain supplies. Prices for all descriptions, excepting the coarser grades of crossbred, had reached the highest level for the season. The Home trade had been the mainstay of the market throughout the season, but excellent support had come from Japan and the local mills. France, Germany, and Italy had bought very sparingly. Speaking of woolstra, the German substitute for wool, the chairman said that the article contained. 50 per cent. of wool,,and was not wholly made of rayon as some people had been led to believe. /At first the trade had been rather perturbed when articles1 made from: the: yarn had been exhibited, but now it, was realised v that woolstra would never be a real menace to wool. As soon as Germany overcame her financial difficulties she would discard woolstra, as no article made from a vegetable fibre could give the same warmth and durability as that made from animal matter. As long as wool prices did not soar too high there need Ibe no fear of substitutes.

The outlook was most promising, because the 1934-35 clip would be marketed before the end of June, and the new. season would be commenced with practically a clean sheet, which spoke volumes for the capacity of the world to 'absorb Australia's chief product. Australian wool was used more extensively every year in the East, and as long as it did not deteriorate the country should never have any difficulty in disposing of its yearly clips. Owing to the serious drought in parts of Queensland'and the ravages of pests, the new season's clip was expected to show a reduction- in volume when compared with 'the current season's figures.