AUSTRALIAN WOOL

New Zealand Herald, Volume LXXIV, Issue 22851, 5 October 1937, Page 5

AUSTRALIAN WOOL

AN UNCERTAIN MARKET JAPANESE INFLUENCE FELT Because of the uncertain prospect of demand from Japanese buj-ers, the Australian wool market was a trifle unstable, and a comparatively recent drop of between 10 and 15 per cent in the London market had not improved matters, stated Mr. A. J. Tanner, member of the Royal Agricultural Society of New South Wales, who passed through Auckland yesterday on the way to Canada and the States. He added that growers were hopeful they would be able to maintain the good average of £'2o a bale, in spite of Japan's careful buying.

Mr. Tanner said he considered the outlook for general -farm produce and stock was very good, and nothing short of a plague of grasshoppers, similar to that which swept over many districts early this year, would be likely to spoil the prospect. Stock had come through the winter particularly well, and because of shortness in supply cattle prices had been unusually good in the past two or three months. "Australia still lacks organisation in the chilled beef industry," Mr. Tanner continued, "with the result that we cannot maintain continuity of supply. There is no'doubt we are ♦producing a far better type of beef than we were, but we still have a long way to go. To bring about more quickly a decided improvement, we have imported large numbers of bulls from Scotland. England and America, and the results have amply repaid us."