GOOD WOOL PROSPECTS.

New Zealand Herald, Volume LXV, Issue 20024, 14 August 1928, Page 11

GOOD WOOL PROSPECTS.

AUSTRALIAN BROKER'S TOUR

INDUSTRY IN NEW ZEALAND.

"PRODUCERS ON RIGHT LINES."

"If New Zealand wool producers followed the advice of some, and concentrated on the production of fiuo wools, I think it wquld bo a great mistake, and would involve the loss of money. Your croducers are carrying on along the right lines with the broader and stronger class of wools, many of the grades being practically ideal, and some open to improvement." This opinion was expressed yesterday by Mr. Robert B. McComas, proprietor of the large Australian woolbroking firm ofk William Haughton and Company and a director of the Commonwealth Bank of Australia. Mr. McComas is returning to Australia by the Niagara, after ati extended tour abroad. His firm has considerable interests in New Zealand.

In the course of his travels, Mr. McComas visited Great Britain, Belgium, France and the United States, coming into contact with those interested in the wool industry. Discussing the future, he said it was most difficult to prophesy the extent of the demand and the prices as far as the approaching selling season in Australia and New Zealand was concerned. One pleasing feature abroad was that thero was no serious carry-over. Supplies from the Northern Hemisphere were now being marketed and might havo a slightly depressing effect. "It can reasonably bo expected that by the time the New Zealand and Australian sales open, northern supplies will be absorbed, leaving a market demand sufficient to absorb the clips of the Dominion and the Commonwealth," Mr. McComas stated. "This is an indication that the prices will be favourable."

Dealing with New Zealand wool, Mr. McComas said the present quality was filling a distinct need in the markets of the world. The wool was broad and strong, and so long as it retained its character synonymous with spinning quality, that was all the world was demanding. What had to be avoided was tho fleece containing kempy wool, which would not take the dyes. Notwithstanding opinions to the contrary the wool of 70 quality and finer wa3 the least saleable; there was strong demand for the 50's and 58's, used for strong knitted goods, bathing costumes, etc. These wools formed the large bulk of New Zealand production, and the demand for them had no doubt been a large factor in reducing the price of higher quality wools.

Discussing tho vogue of artificial silk, Mr. McComas said he noticed a remarkable improvement in the quality of the goods produced, but he did not consider artificial silk as a serious competitor with wool. The temporary set-back to the woollen industry could be largely attributed to the fluctuating prices which made tho outlook from the point of view of the producer very uncertain. Summing up his impressions, Mr. McComas said ho could see no reason for any lessening in the competition for New Zealand anji Australian wool during tho coming season.