WOOL PROSPECTS

Evening Post, Volume CXXIV, Issue 110, 5 November 1937, Page 10

WOOL PROSPECTS

NO LOW PRICES

THE COMING SALES

Discussing the prospects of the coming New Zealand wool sales, Mr. M. Tartakover, of Wellington, a wool buyer, who returned from England by the Tamaroa today, said he considered that the New Zealand farmers need have no cause for alarm; there would not be what one might term low prices : the sales.

"I think that notwithstanding that the market has dropped," said Mr. Tartakover, "wool conditions are very healthy. The reason that the September sales at Home were lower was purely through lack of confidence, brought about by political conditions and the Wall Street fluctuations m America. As stocks were abnormally low in Yorkshire there, was not a manurfacturer or spinner who could give as the reason for the drop in prices at the September sales that they were I overstocked. As a matter of fact a [week before the sales what really greasy-wool was offering was snapped up and yetbetween that time and the time of the opening of the sales confidence was so shattered that the trade in general absolutely had the 'wind i UPAsked his opinion of the likely effects of the Chinese-Japanese trouble on the wool market, Mr. Tartakover said that as regards Japanese buying tin Australia and New Zealand one naturally came to the conclusion that I as the Japanese were using much more iwool for military purposes they would | require more 'wool. Therefore, it ap- ! peared that the Japanese would be I heavier buyers than usual, but finance would have a say in it. That, of course, applied to every country at war. Personally, however, he would Ibe surprised if they did not take at least as much wool this season as last. Mr Tartakover said that there were n- complaints at Home about the condition of the New Zealand wool. He was pleased to be able to say that the trade generally in Yorkshire was becoming more satisfied with the get-up and the breed of the clips last season from New Zealand, less hair being in evidence. The general opinion was that the New Zealand farmer was using better breeding rams and the people at Home hoped that the farmers in the Dominion would continue to do so.