PROSPECTS BRIGHTER

Poverty Bay Herald, Volume LX, Issue 18235, 2 November 1933, Page 2

PROSPECTS BRIGHTER

OPENING Ot WOOL SEASON TOSITION IN AUSTRALIA Prospects for the, opening, of.flhe .wool season in the North Island this month are exceedingly bright,, according to .Mr, O. .Courtney, who, for several years, lias made periodical visits'to most of . the Australian States, and has. returned to Christchurch for'the wool-classing season in New Zealand. He, informed a representative of the Press that Australian growers were looking to the future with the greatest confidence and that what occurred iu Aus.trrtliii must.. necessarily have its effect in New Zealand. To-day graziers, and selectors in Australia wej» jubilant concerning their returns this season, and most of the burry and dusty wools sold, in the early . sales were realising, at one stage, an average of £lB a bale.' , To-day it would average about £ls 155,. < : Now that the market was.move stable most graziers and selectors would be able to balance the budget for the present season at least. The set-back, in one sense, lias been a blessing in disguise, and the younger generation would take a lesson and be more thrifty- in the future. There should be general rejoicing in New Zealand when the wool sales opened this month in the North Island. There was- every indication of' the struggling farmer-receiving a payable price for. his efforts. There would be a strong, demand for crossbred, halfbred,- Corriedale, and come-back;- this season. Owing to the droughts that had .prevailed in most. Australian States this season the wool had become hunger-fine, with the result that there was-an abundance of the finer type of wool on hand. It-was exasperating to learn of,the many, cases iin which Australian farmers were selling- their wool to speculators.. Those farmers sold the wool lor a certain sum •V-pound before the sheep were shorn, little realising that -the first- sales in Sydney would open- with a 40 per cent, advance on the previous season. Consequently they, regretted not having regarded the advice of their brokers. ~ The .tendency for the small Australian farmer to sell to speculators*was very unwise, for, more- often than not, the grower was the loser.