PROSPECTS FOR WOOL

Nelson Evening Mail, Volume LXXII, 25 November 1938, Page 4

PROSPECTS FOR WOOL

AT all times, despite illusory statements that New Zealand can be made self-contained, and “insulated,” the fact remains that the country is mainly dependent for its prosperity upon the prices and returns derived from its primary products. So far as dairy production is concerned, the guaranteed price fixed by the Government at a rate lower than the price unanimously recommended by the Government-appointed committee of experts—has made no difference to the price being paid on our main overseas market. Not only is dairy production down so far as the season has progressed, but prices have not been all that was hoped for and the New Zealand consumer is paying more for butter than is being paid for the New Zealand product abroad. The vital importance of the highest possible return from our primary produce has become intensified by the present economic position and the pending increased liabilities. For these reasons additional interest will be concentrated on the opening of

the New Zealand wool sales at Auckland to-morrow. That interest will not be confined to pastoralists. It is the concern of everyone in the Dominion. It is to be hoped that satisfactory prices will result at the opening sale. It is impossible to judge of what may happen from what took place at the sixth and final series of wool sales in London earlier in the week. At this time last year the London prices did not give a real indication of what was to follow in New Zealand. Nevertheless the prices obtained in London this week were favourable, especially for lines which are of most concern to New Zealand. It is important that we should get the utmost possible return from our exports and it is not too much to hope that the prices for the country’s wool will play their part in assisting to keep New Zealand on a sound economic basis.