WOOL PROSPECTS

King Country Chronicle, Volume XXXI, Issue 4566, 8 November 1937, Page 5

WOOL PROSPECTS

NO LOW PRICES. THE COMING SALES. Discussing the prospects of the coming New Zealand wool sales, Mr. M. Tartakover, of Wellington, a wool buyer, who returned from England by the Tamaroa on Friday, said he considered that the New Zealand farmers need have no cause for alarm; there would not be what one might term low prices at the sales. “I think that notwithstanding that the market has dropped,” said Mr. Tartakover, “wool conditions are very healthy. The reason that the September sales at Home were lower was purely through lack of confidence, brought about by political conditions and the Wall Street fluctuations in America. As stocks were abnormally low in Yorkshire there was not a manufacturer or spinner who could give as the reason for' the drop in prices at the September sales that they were overstocked. As a matter of fact a week before the sales what really greasy wool was offering was snapped up, and yet between that time and the time of the opening of the sales confidence was so shattered that the trade in general absolutely had the ‘wind up.’ ” Asked his opinion of the likely effects of the Chinese-Japanese trouble on the wool market, Mr. Tartakover said that as regards Japanese buying in Australia and New Zeaalnd one naturally came to the conclusion that as the Japanese were using much more wool for military purposes they would require more wool. Therefore, it appeared that the Japanese would be heavier buyers than usual, but finance would have a say in that. That, of course, "applied to every country at war. Personally, however, he would be surprised if they did not take at least as much wool this season as last. Mr. Tartakover said that there were no complaints at Home about the condition of the New Zealand wool. He was pleased to be able to say that the trade generally in Yorkshire was becoming more satisfied with the get-up and the breeds of the clips last season from New Zealand, less hair being in evidence. The general opinion was that the New Zealand farmer was using better breeding rams and the people at Home hoped that the farmers in the Dominion would continue to do so.