THE WOOL SEASON.

Evening Star, Issue 19407, 16 November 1926, Page 6

THE WOOL SEASON.

At the wool sales hold in Wellington yesterday the marketing of this season’s New Zealand clip began. Tho result was on the whole satisfactory. It had been feared that, with the prolongation of tho coal strike in Britain, Bradford’s buying orders would bo greatly curtailed and the market would be without its usual mainstay. As it happened the nows of tho collapse of tho strike came most opportunely, and Bradford proved to be the dominating buying factor - . Sometimes in the past it has happened that early in the season American competition has forced prices up to fictitious levels which have sagged heavily on the sudden subsequent withdrawal of America from tho market. On this occasion, however, the American buyers appeared to bo content to look on, nor were Continental firms showing tho same capacity to absorb supplies .which marked the recent London series of sales. The • presumption is that both America and the Continent need the raw material, and will ultimately secure their requirements. There appears to be no drying up .of purchasing power in the Continental textile industry, judging by what was lifted in London during our off-season, while in the case of America that' country is reputed to be rolling in wealth. As compared with last season the market to-day from the producer’s point of view does not labor under the disadvantage of there being a very heavy carry-over of Australian wool from tho previous season, as was the case this time last year. All things considered the piices realised yesterday may bo regarded as satisfactory, and as likely to hold throughout the season unless something quite unforeseen occurs. The experiment of holding on for a rise in values has had a had advertisement recently in another branch of production, and it is noticeable that at AVellington yesterday only a small percentage of growers held out for higher prices than were elicited at the auction.