WORLD'S WOOL CLIP

Poverty Bay Herald, Volume LV, Issue 17145, 30 December 1929, Page 5

WORLD'S WOOL CLIP

SOUNDER OUTLOOK Winchcombo, Carson, Ltd., of Sydney, report:— "For tlie first time for some years world wool production is expected to show a decline this season. Completo figures are not available, but an American authority states that tho clip in eight countries, representing sevenjtenths of the world's wool, is likely, to (total nine million pounds, or about 30,000 hales Jess than for the previous season. The falling off is not great, and cannot hav6 any appreciable effect on prices, but from growers' standpoint it is satisfactory that the upward trend in supplies has ceased. The lowest point in the wool production of the world was reached in 1922, when the year's clip totalled approximately 8,479.000 bales. |ln 1928 if reached 11,007,560 bales, or an advance of 30 per cent. "Theories have been brought forward to account for the lower values ruling this season, but tho increase quoted is the chief factor responsible. It is the inevitable result of the law of supply ami demand. When supplies were short (growers had the best.of the bargain. Reverse circumstances have produced the opposite effect, but as less encouraging prices gradually diminish production fortune will slowly turn in sheepmen's favor. Wn see no reason to anticipate, a set back in Wool prices. AVlien a good weight of goods manufactured from this season's lower-costing wool is available, it, is probable that fabrics will well with greater freedom. Fashion in feminine wear lias swung towards the sheep's staple. That fact will also help business. Appreciably higher prices cannot be anticipated, but the outlook is certainly more favorable than it was earlier in the season."