QUESTION OF WOOL PRICES

Hawke's Bay Tribune, Volume XXIII, Issue 103, 12 April 1933, Page 13

QUESTION OF WOOL PRICES

UNIVERSAL PROBLEM. SYDNEY, April 5. The stronger wool market latterly experienced has been confirmed by a slight upward movement in rates for Merino tops in Yorkshire. A year ago prices were on the descent, and have recently been on the ascent. The experience is assuring because the clip in all centres has paseed rapid

ly into manufacturers’ hands. A midFebruary report from Durban, South Africa, stated that supplies in that quarter would be completely exhausted in a few weeks. Exports from Argentina and Uruguay have been made much more rapidly than for some time. From October 1 to the end of January, shipments from the Argentine were 25 per cent, greater than a year before. The strong demand for the raw material despite the heavy purchases made during the past seven mouths is an assuring indication, showing that the raw material has been passing into consumption and that consumers have reasonable confidence in future business. Japan’s continued activity lias no doubt been a surprise to many English and European users. The opinions were expressed that Japan’s orders were for military purposes, and would wane and that her purchase last season of t>28,000 bales in Australia was beyond her needs and would result in her buying operations showing a decrease during the current selling year. Both those ideas have proved astray. Shipments from Australia to Japan to the end of February were 472,412 bales, being 31,453 bales greater than twelve months before, and her purchases in March were very extensive, Consumers abroad should realise the fact that eon sumption of wool by the Japanese establishments is now definitely established on a large scale. When conditions in the East are more settled, there is little doubt that she will endeavour to popularise her goods in other eastern quarters and the figures at which she can produce fabrics should assist in making her bid for trade successful.