GOOD NEWS FOR GROWERS.

Hawera & Normanby Star, Volume XLII, Issue XLII, 14 October 1922, Page 11

GOOD NEWS FOR GROWERS.

RISE IN CROSSBRED WOOLS

The opening of the seventh of the series of London sales witnessed an unexpected rise in the prices of coarse and low crossbreds, both of which recorded an advance of |d per lb. This does not look very much expressed in such terms, but it really means that a bale of wool 4001b weight is worth 12s 6d more thag it was worth lately, and that advance, small as it is, will be appreciated by the North Island wool-growers, whose clips are mainly crossbred. All other grades of wool advanced also, merinos rising a penny per lb. The closing prices of the sixth series, and the opening prices of the seventh series, compare as under:— Sept. Oct. ■ i sale. sale. /. s. d. s. d. Average greasy merino 1 11^ 2 1 Fine halfbreds, 50-56 1 -4J 15* Medium half bred, 48-50 0 11J 10 Fine crossbred, 46-48 0 8£ 0 9 Med. crossbred, 40-46 0 7* 0 8 Coarse crossbred, 40-44 0 7 0 7f Low crossbreds. 36-40 0 6| 0 7J "When it is remembered that at the July sales B.A.^VVJt.A. had' to with-draw-practically the, whole of its offerings of New 'Zealind crossbred wool, and restricted its offerings at Liverpool and Hull, and adopted the same policy last month to prevent a fall in values, the change that has come over the market is sfgnificant. The statistical position of crossbred- wool is no better than it was in July last, and yet the prices advance. The restricted offerings no doubt helped to maintain values, but the real cause of the advance is the soaring values of merino. It was stated that Bradford woolmen were alarmed at the high prices ruling for merino wool at the Brisbane, Sydney I and Melbourne sales, while manufae- ( turers contended that they were unI able to get back the price of tops in the manufactured article. . There is an old saying in the wool trade that , when wool is dear it is' dangerous, and when it is very dear it is very dangerous.'' Merino wool is getting to the very dear stage, and the trade is turning to the cheaper raw material. J-nat happened some years ago when growers who received advances of 6d Per lb had to meet reclamations. It seems almost safe to say that the tide has turned for crossbred wool. Values may not soar upwards, but they should ■. snow steady improvement from'now on.