WOOL PROSPECTS.

Manawatu Standard, Volume LV, Issue 303, 20 November 1935, Page 5

WOOL PROSPECTS.

GOOD DEMAND REPORTED,

SMALL AUSTRALIAN SUPPLIES.

Although prices for most classes of wool have varied slightly recently, there has been an excellent demand from. Japan, Yorkshire, all sections of' tho Continent and Australian millmen, says the latest review issued by Winchcombe, Carson, Limited, of Sydney. A good flow of orders was anticipated from Japanese and Yorkshire buyers this season. Purchasing by the Continent was a doubtful factor, but business on that account has been better during the first two months of the season I than during the similar period of 1934. When that improvement is regarded, however, the fact should not be oyerlooked that European buying is not as extensive as a few years ago, and the reduction diminishes the probability of the further sharp rise in prices which many of those optimistically inclined anticipated when the season opened. By way of example, exports of wool from Australia to France were larger last season than 12 months before, but they wero 159,414 bales fewer than in 1932-33. | Recovery has occurred in lost quarters since the disastrous times of 1932. Progress has been greatest in countries which followed Great Britain suspending the gold 1 standard. That development lessens the risk l of any decided setback in wool prices, but I it would be injudicious to expect values to ! soar. Wool, like wheat and other primary ; products, is dependent upon mass consump--1 tion for its marketing welfare, and the ! value of it can only safely advance step ; by stop as employment and earning power 1 gradually extend throughout the world, j Abroad doubts appear to be held whether 1 the Australian clip will show the estimated ■ reduction of 8 per cent, anticipated. Definite information on that point cannot be furnished until the end of this month, by ' which time the bulk of the wool will have arrived at the seaboard. Apart from the j current clip, the supplies of wool available for sale in the Commonwealth are diininishI ed by the fact that the carry-over at June 30 last was only 85,265 bales, a decrease 1 of 127,487 bales on the preceding year’s to- | tal. Tho smaller clip in conjunction with the i much decreased carry-over certainly leaves 1 millmen with the smallest Australian supplies available for a number of years. ; I