FINE WOOL SEASON

Poverty Bay Herald, Volume LXIII, Issue 18962, 12 March 1936, Page 15

FINE WOOL SEASON

AUSTRALIAN RETURNS

£50,000,000 CHEQUE

SYDNEY, March 1. The outlook for wool is very bright and the industry is in a sound position generally.

That is the opinion of Mr. Hope, chief auctioneer of Ooldsbrough Mort. Limited, who yesterday reviewed tin results of the selling season now draw ing to a close.

The season, he said, was one of t lubest experienced for some years. The sales opened strongly and although there was a decline at one stage, values picked up again quickly and never dropped back. Sales this week, for instance, averaged 16.9 d per lb. generally, indicating the good demand. Bradford and Japan were very constant throughout and constituted the main factor in keeping the market stable Germany was spasmodic, and Italy was hampered by sanctions. France gave steady support,

Mr. Hope added, that owing to weather conditions in Queensland and parts of N.S.W. recently, the next clip was expected to be smaller and the market iii September should be strong with higher prices. The 1935-36 clip is expected to realise about £50,000,000, according to the estimate of experts, and 1,698,181 bales left the Commonwealth between July 1 and January 31, an increase of 237.716 bales, compared with a similar period Inst year. The, president of the Graziers Association, Mr. J. P. Abbott, said yesterday that the wool-selling season was ending most satisfactorily. Competition was wider than probably at any other period of the season and there would be no carry-over of wool into next season.

It was noteworthy that the estimates prepared by the joint conference of the Australian* Woolgrowers' Council and the National Council of Wool-selling Brokers last June were apparently working out approximately correct.