WOOL VALUES

Otago Daily Times, Issue 22067, 25 September 1933, Page 9

WOOL VALUES

THE RECENT IMPROVEMENT ERA OF LOW PRICES PASSED (United Press Association.) (By Electrlo Telegraph—Copyright.) LONDON, September 23. (Received Sept. 24, at 8 p.m.) The Morning Post says: " Notwithstanding the rise wool is not yet dear. The conviction that the era of low prices has passed has improved the demand for manufactures,) and the industry is busy with substantial orders." The Economist, reviewing the world wool situation, after analysing the consumption figures, concludes that the sharp improvement in values in recent months was the natural result of a revival in the demand, coupled with the expectation of a decrease in supplies. "The improvement, therefore, is fully justified and the present indications are that the expansion in the demand for raw wool will continue in the near future. The advance is not fully reflected in retail prices, but it is believed that in the absence of any serious recession in the world's industrial activity, it can be passed on to the consumer without reducing either the demand or the prices of wool." Discussing a table showing the retained supplies of raw wool the paper emphasises that Japan's figures for 1928 to 1932 were as follows:

"which suggests that she will absorb and develop the manufacture of woollens at the same rate as she expanded the cotton industry."

Lbs. 1928 .. .. .. .. 115,000,000 1929 .. .. .. .. 107,000,000 1930 .. .. .. .. 115,000,000 1931 .. .. .. .. 189,000,000 1932 .. .. .. .. 204,000,000