WOOL OUTLOOK

New Zealand Herald, Volume LXXIII, Issue 22595, 7 December 1936, Page 5

WOOL OUTLOOK

STRENGTH OF DEMAND

POSITION' OP CROSSBREDS UNITED STATES' INTEREST (Received December 6, 5.5 p.m.) LONDON, Dec, 5 The Times' trade supplement, summing up the wool position, emphasises that most countries which devalued their currencies have extended their interest in wool, thus expanding the world demand when supplies of the old clip are at their lowest point for years and the demands must bo met from current production, with the result that wool.is in one of the strongest positions in recent years. Even crossbreds, in spite of accumulated surpluses, arc well placed and the textile industry generally is adjusting itself to the higher values. Bradford exports regard New Zealand crossbred prices as demonstrating that thero is nothing freakish about the substantial rises elsewhere.

The Yorkshire Post points out that the crossbreds situation is unparalleled in living memory. Not only a largo New Zealand crop and carryover have been lifted within a year, but the whole of the Buenos x\ires market has been cleared. Nevertheless, the opening of the 1936-37 season finds Britain with less unsold stocks than is remembered by the oldest traders. The United States' interest in crossbreds has increased owing to the need for importing carpet wool. That country has even bought South American wool on the sheep's backs, and now is keenly interested in New Zealand. America expects a: big increase in retail trade owing to the renewed confidence and better employment following Mr. Roosevelt's re-election as president.