Less Wool Offering

Poverty Bay Herald, Volume LXII, Issue 18632, 16 February 1935, Page 13

Less Wool Offering

T'f is quite evident; that the offerings * of wool in the Dominion this year are going to show a sharp decrease from, the .1922-23 season, state Dnlgot.v and Company, Limited. The total sales in the Dominion for the J 922-2-1 season were 650,688 bales, and it looks as if the total sales in tiie Dominion for the 1924-25 year will not amount to more than about 525,000 bales, leaving an estimated shortage as compared with last year of j 25,000 bales. The estimated carry-over for the 1 922-22 season was 1-17,000 bales, and' in .IDBB-B1 62,000 bales. A large portion of the carryover was during the winter months shipped to London. Prom present, indications it does not appear as if we can look for any decided appreciation in values in the near future, and until Germany and other Continental Lowers can rearrange their finances tor the purpose of establishing credits tor the purchase of the raw material, the market will remain without much change. Throughout, the selling year We haw sadly missed German competition. Last, year, that country purchased in the Dominion .142,000 bales, and' taking her averago buying to date il certainly would not seem as it Germaiiv will purchase more than about kS.Otjo bales in New Zealand this season. -Trance’s purchase will also be vastly lower, and both Italy and Belgium will show smaller purchases. ( aaada and Japan have been valued clients, and their purchases during ! 0-34-2.) should be about on a par with last son. Tail- support has come Lrom Australia for certain types of wool, but: even that country’s purchases will be less than last year.

Dominion mills have neea veiy active, no doubt recognising that with tln> low prices at present ruling it is an opportune time to increase, theii slocks, even to the extent ol puichasing more than their yearly requirements.