PESSIMISM ABSENT

Poverty Bay Herald, Volume LV, Issue 17176, 5 February 1930, Page 7

PESSIMISM ABSENT

OUTLOOK OF SHEEP MEN kBAT COMPENSATES EOE WOOL Perhaps too much attention' has been fpciissed recently" on the failing wool market and its possible effects .on the stability of the farming community. Taking the wool market oy itself, tne outlook is by no .means reassuring, but fortunately the flock owner' does riot carry, all his eggs in the one basket. Xownsfoik sometimes allow their' vision to be clouded hy the one aspect, that of the decline in wool values,, but among the farming community of Poverty Bay pessimism has not taken a hold, despite the fact'that in most cases wool iC now'selling at .half, and in some in- ' stances less/than half, of what last seasons clip brought. »',,,. ("Wool* is a long way off the level of lto», when-some of the inferior sorts were selling at less than Id per lb., and ''.mm if the values were now approaching the 1921 level for wool the position would not be nearly so serious as during the time of the big slump, when' most primary produce was worth little, .hiiock owners regard the position at pre-Wnt-as having its compensations, for the beef market is particularly strong, the best it has been for 10 years, while early lamb despatched on consignment has realised a better figure than was the „., ewe".'a year ago. • ■ ■ ■ ■ \' ,-4t- is recognised that the :t*o pre- \ viQus seasons were good ones for the tbeep farmer, all markets in which they were interested being at a high level. With iinfeovements on the one hand, th«y clMih th*t they are riot in a airlotts position even with theii" wool returns cut in half. in the meantime the farme/s are watching the markets carefully. ' Some of them are ►holding their dips in the hope oi a ri3e, and although some are hrm in their belief that this will be the better course, others are doubting, their ■ wisdom, for to pay for the cost of storage and the Ices of interest on their - Soheytied up a fairly substantial rise lit! have to be effected, in the meantime to mak® their waiting game pay. - Most, however, have faith in the future of the market, and regard the present as one of the fluctuations which ' ajppear to he inevitable.