THE WOOL TRADE

New Zealand Herald, Volume LXXII, Issue 22197, 26 August 1935, Page 7

THE WOOL TRADE

ENCOURAGING HOPES " CRITICAL PERIOD OVER" REVIEW OF 1934-35 SEASON The results of the 1934-35 wool-selling season were more satisfactory than appeared possible in the earlier stages, states Dalgety and Company's annual wool review. Conditions at the close of the 1933-34 season were far from promising. There was a heavy carryover into the new season, and other depressing factors were the German embargo, Italian restrictions, £ind a generally unsatisfactory outlook among Continental users. A severe rationing of auction offerings became an imperative necessity, and grave doubts existed as to the possibility of effecting a complete clearance of the clip. This, however, has been accomplished, and one of the most critical periods in the history of the wool trade has closed with a substantial measure of recovery in the last quarter, encouraging hopes of a brighter future for woolgrowers. For Australia and New Zealand, the season's wool cheque was £43,012,504, a decrease of £19,604,839 from that of the previous season, in spite of an increase of 289.741 bales in the quantity of wool handled, due chiefly to the heavy carry-over from the previous season. In 1929-30 the depression cycle began with an Australian and New Zealand wool cheque of £39,054,959, sinking in 1930-31 to £31,204,332, the lowest point in recent ?ears. In 1931-32 the total was £33,214,644, and in 1932-33 £39,370,746. Thus, although the recoiery to £62,617,343 in 1933-34 was not maintained last season, the result showed an improvement of £11,908.172 on the lowest depression point. Over the past 15 years the highest cheque was for the 1927-28 season, when £73,877,862 was realised.