OUTLOOK FOR WOOL

New Zealand Herald, Volume LXXV, Issue 23021, 26 April 1938, Page 7

OUTLOOK FOR WOOL

INCREASE IN ACTIVITY DEMAND FOR CROSSBRED DOMINION SUPPLY EAR-MARKED [from our own correspondent] LONDON, April 2 The international situation had surprisingly little effect on the position of the wool industry in March, according to the latest wool intelligence report of the Imperial Economic Committee. Unemployment in woollen trades in the United Kingdom, after increasing steadily between September, 1937, and January, 19."J8, declined slightly in February. Business iji crossbred tops showed some improvement after the first fortnight in March, and values hardened, while Merinos remained firm. Spinning activity was unsatisfactory, but. the demand for piece-goods expanded. Exports of tops, yarn ,and tissues in the short month of February were all slightly less than in January. Raw wool stocks at the end of February showed a slight decline, as compared with the previous month. Woo] consumption in the United States in January was the lowest figure for that month since 1919 and stocks of wool were estimated to be considerably higher than a year ago. Some improvement took place in activity in February and the early weeks of March, however, and future prospects are not unfavourable. In France business in tops and yarn was very quiet during March. Weavers have orders in hand for several weeks, but new business is scarce. Good orders have been received for high-quality cloths suitable for export. Spinning activity in Germany was good in January, and the output of the weavers showed a further increase. The raw materials consumed by the Italian wool textile industry showed a further decline in December, but exports of tissues in January and February were greater than iji those months last year.

Stocks of wool in Japan have fallen severely, owing to the restriction on imports, but import licences hare been issued somewhat more freely in recent

weeks. "Preference is being given to firms requiring wool for export orders, and New Zealand crossbreds are reported to be earmarked for Government requirements," states the committee. "It is reported that permission was granted for some purchases of wool in February on the understanding that the yarn and tissues made therefrom would he exported, and it appears likely that this policy will be continued."

FOOD IN WAR-TIME SERIOUS BRITISH PROBLEM ESSENTIAL NEEDS REVIEWED [from our own correspondent] LONDON, March 26 The director of the Rothamsted Experimental Station, Sir John Russell, addressing the Leeds Luncheon Club, said that if war broke out to-morrow it would be 12 months before the farmers of Britain could produce any additional food, and two years before they could get a war-time food production programme in full swing. Remarking that this country provided only 40 per cent of the food it consumed. Sir the potato was by far the most economical form of food, and an acre would furnish enough for 70 to 75 persons for a long period. Sugar-beet was also economical, for an acre would produce sufficient for 40 persons, while an acre of grass could produce cheese for 30 or 40 persons. But bread and bptter were both uneconomical; an acre of wheat sufficed only for seven persons and an acre of grass would produce butter for only the same number. When it came to meat an acre could produce only enough for three or four persons. In time of war, continued the speaker, it would be easy to augment their production of potatoes and pork, hut less easy with bread or fat. A wartime agricultural programme would involve a drastic change in diet. T hey would have to resign themselves to having less beef and mutton, though they might have more pig meat. One tiling essential for the success of a war-time agricultural programme was to organise it in peace-time. England was not growing as much wheat as it should. This could be done by breaking up grasslands.