THE WOOL PROSPECT.

Poverty Bay Herald, Volume XIV, Issue 4771, 24 January 1887, Page 4

THE WOOL PROSPECT.

A writer in the Otago Witness says : — lt has never yet been satisfactorily explained •why the price of wool commenced to rise so unexpectedly in tho last June sales. Tho other day I accidentally met a member of one of tho largest firms of Loudon wool auctioneer.!, who is taking a tour through Australia and Now Zealand. Thi3 gentleman informed me that he had not the least idea as to the cause of tho riso in wool values, nor did he think anybody knew tho actual cause, the rise being probably tho effect of a combination of circumstances, such as improved confidence in political allairs. A new Ministry taking office about that time created, perhaps, a slight revival in trade which, combined with the fact that many large manufacturers had been for some time only working from hand to mouth as it wore— buying from time to time just what they required for orders in hand, and perhaps found themselves pretty well cleared of material when the sales in question opened. Whatever tho cause, the result proved very satisfactory to us, and I fervently hopo that the account sales of tho outgoing clip will not be any worse than thoso of the latter part of last season's Bales. At present sheopfarmers have little but tho wool to depend upon. Tho sale of surplus stock will bring in next to nothing. Fat sheep, too, cannot riso above their value for uxport, and that at present i 3 not much more than what will cover expenses and charges. Our chief reliance must, for a few years at any rate, be placed upon wool and wheat, and it is a fortunate thing that wo are second to uono in tho quality of thuse products, if wo chooso to exert ourselves in that direction.