OUTLOOK FOR WOOL
AUSTRALIA’S PROBABLE CLIP PROSPECT OF BETTER PRICES (United Press Association.) (By Electric Telegraph—Copyright.) SYDNEY, August 29. (Received August 30, at 0.30 a.m.) Addressing the shareholders at the annual meeting of Winchcombe, Carson, Ltd., the chairman (Mr Harold Bell) said the financial and political outlook was so uncertain that nobody intimately concerned with • the trade could give a reliable guide to wool values this season. However, statistically the position was very sound. The world was growing about 800,000 fewer bales than formerly, and, if the law of supply and demand functioned normally, prices would be higher than they were to-day. Last season Australia’s wool cheque was £50,000,000, compared with £36,000,000 for 1932-33. This season he expected a clip aggregating 3,146,000 bales, which would be an increase of 150,000 above the total of last year. In other words, Australia had an increase, with the, addition of the 150,000 carry over, of (about 300,000 bales to market. Thus, if the basis of the prices now ruling were maintained, Australia’s wool cheque should be in the neighbourhood of £42,000,000, while every penny rise would mean an additional 25s per bale.
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Bibliographic details
Otago Daily Times, Issue 22354, 30 August 1934, Page 10
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189OUTLOOK FOR WOOL Otago Daily Times, Issue 22354, 30 August 1934, Page 10
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