PRICES FOR WOOL.

Hawke's Bay Tribune, Volume XII, Issue 300, 7 December 1922, Page 2

PRICES FOR WOOL.

SOUTH AFRICAN AND AUSTRA LIAN COMPARED.

A report has been issued (writes a Bradford correspondent), stating that the forthcoming South African clip is estimated at approximately 550,000 bales, which represents an increase

of 60 per cent over recent clips. This is surely a seriously mistaken estimate, , for no country in the world could increase its clip of wool by 60 per cent in twelve months, and 25 per cent, should be remarked as a remarkable increase. During recent years the South African clip has varied between 500,000 and 525,000 bales, and if the increase this year is 25,000 bales, i| will be a remarkably good performance. It is a remarkable fact that prices for South African wool are now higher than for Australia, largely due to Cape produce being very scarce indeed, just at the time when there is a strong demand among users. Cables received in Bradford during the past week put the clean scoured cost of South African merinos (12 months wools) at 56d. an exceptionally high price compared with 48d, which is today’s ruling figure for good topmaking 64’s in Australia. It will nol'Te surprising if Cape wools show some ease from their present extreme level, but they will have to come down considerably before they are again cheaper than Australian. There is ample room tor a considerable increase in the production of merino wool in any country where it can be grown, but it may be seriously questioned whether the Cape clip will show an increase of anything approaching 25 per cent.