THE WOOL MARKET.

Poverty Bay Herald, Volume XLIX, Issue 16021, 6 January 1923, Page 9

THE WOOL MARKET.

BIG DECREASE IN DOMINION

FLOCKS

RISE- IN PRICE FORESHADOWED

"The decrease in New Zealand's llocks of sheep is of eerious importance," remarks Mr. R. W. Dalton, H.M. Trade Commissioner, in his report on commercial conditions in the Dominion, as viewed in July last. The flocks of New Zealand in 1914 amounted to 24,798,763, and the following table shows clearly what has been happening in subsequent years: ■ Year. No. of sheep. 1915 24,901,421 1916 24,788,150 1917 25,270,386 1918 26,538,302 1919 25,828,554 1920 23,919,970 1921 23,285,031 1922 22,245,473 In fact, declares the Trade Commissioner, the statistics show that flocks in New Zealand are now down to the level at which they stood in 1908, and at the pre-war rate of increase it will take about ten years to recover the loss shown since 1918.

It is, ho states, very difficult to give a general idea of the development of values during the last year or so, owing to the number of varieties of wool offered, and the varying values of the wools of particular districts, due to their varying qualities; but it may bo said definitely that during the last season at lest there has been a very definite advance. The average' prices per lb. of wools sold at the various sales of NewZealand during the past season, though owing to varying qualities they have no real idea of price movement, ranged from a minimum of 4.21 d on October 20, 1921, to a maximum of 9.01 d on January 20, 1922, but this latter price was not reached again up to March 31. A digest by Messrs. Dalgety and Co., Ltd., for the latter part of the season of 1920-21 and the whole- of the season of 1921-22 shows very clearly that, generally speaking, there has been a definite and steady increase in values since the fall of the latter part of the previous season. Another authority points out that, though present prices are still below pre-war prices, they show on the average over 100 per cent, increase os compared with prices at the same time last year. Mr. Dalton considers that such an improvement in one of the leading industries of tho country is of very great importance, and says that, taken in conjunction with tho reduction of flocks and the- apparent arrival of bettor times in consuming countries, it should indicate definitely that New Zealand has not only fumed the corner, so far as its most hardly hit industry is concerned, but is within reasonable distance of quite material prosperity.