WOOL PRICES

Hokitika Guardian, 2 November 1932, Page 5

WOOL PRICES

BIG RISE NOT ANTICIPATED

AUSTRALIAN GRAZIER’S VIEWS.

AUCKLAND, October 31

A warning that fahr .re ‘should not expect, any immediate substantial rise in "the price 'of wool .was: itiered by Sir Norman Kater' a well-known. Australian grazier, who arrived; ,by the Niagara from Vancouver on his return home from the Ottawa * where he co-operated with .Mr F. JT.' Tout, president.pf the ; Graziers’. Association of New South Whiles, in repro- ' sentin'g the Australian pastoral industry. . 3: 3 •; = :’-V

“Since the Conference,” said - Sir Norman, “I have been to England and with Mr Tout and Mr Devereux, the. official representative in London of - the Australian wool-growers: and the representative of the. wool producers at Ottawa, r I went -to. Bradford. So far as I■*.buid judge the wool trade there appeared to be :^; improving, but I learned Mot'hihg‘’^i^pK3-wpul4;o€i(3-Jnft r -- to believe that we mky expect any substantial rise in wool prices' for some time, to .come.' (>»

“I think that it behoves all producing countries to reconstruct their economic systems and cut down their costs to a degree comparable with the price levels of their, export products,” he added. It wouW- be dangerous, he said, for to carry on as they were doing in a hope that prices would , return to the boom level. If they did so much the better, but Australia and New’Zealand should adjust their costs immediately to . the present level of prices, then they would be proof against adversity.