THE WOOL INDUSTRY.

Otago Daily Times, Issue 19980, 23 December 1926, Page 6

THE WOOL INDUSTRY.

Though last year was not a good yea: for woolgrowers in the matter of the price received for their wool clips, it was never theless a most satisfactory period. Thi " o f remarkable feature of the year fo the woolgrower was the encouraginj stabilisation of values which took, am those who could read the signs of the time foigot the losses occasioned by decreasei rates, and welcomed the return to a stabli market, the need for which had been si clearly demonstrated during the previou selling season. The position in Otago, a in every other wool-growing province, de pended solely on outside conditions. Th weather had some effect on the clip, whicl was a good deal lighter than usual, and o poorer quality as a result of a phenomenal!broken and unseasonable spring. Th textile trade at Home incurred staggering!; heavy losses during the slump of 1925 an 1926 had to be devoted to an endeavour t regain the balance thus lost. Confidenc was speedily restored, however, an although prices were low, they ’•owed littl variation throughout the season. The trad was feeling its wav to n_ stable =tate o affairs. Industrial conditions had a ver sobering effect on the trade in Englanc and buyers moved very warily. At tK opening Wellington sale last year value were better than most sellers oxpectec but by the time the buyers had reache Timaru the market had eased considerably The decrease ended at the Timaru sale* and a few days later at Dunedin an ’• crease was experienced, with a bettor >

rnand.. Following this there were a few fluctuations of little importance, but the level reached at the first Dunedin sale-was well maintained throughout the year. The total number of bales in the New Zealand clip was 491,582, as compared with 462,795 for the previous year. The average price per lb for the Dominion was 11.8 d, and per bale £l6 16s 2d, against 19.95 d per lb and £29 5s per bale for 1925. In Otago the average price was better than the New Zealand figure, being 13d and £l7 8s 7d, compared with 20d and £27 14s 9d per bale for the previous period. The total sales for Otago were 67,692 hales. The new season’s sales were commenced early last month in the north, but the first Dunedin sale was held last week, and from it one can glean something of the season’s prospects. The stable conditions of the previous selling period were maintained, and a satisfactory increase _ on last year’s prices was experienced. The din was in excellent condition—the best for years—and hopes of a good finish are not unreasonable.