WOOL OUTLOOK GOOD

Poverty Bay Herald, Volume LXIV, Issue 19364, 30 June 1937, Page 15

WOOL OUTLOOK GOOD

REVIVAL OF ACTIVITY HASTINGS’ MAN'S OPINION “Now Zealand has enjoyed a splendid season,” said the president, Mr. If. W. C. Baird, when reviewing the year’s trade and business activity at the annual meeting of the Hastings Chamber of Commerce. Wool prices, he added, had meant a wave of prosperity, and everything pointed to continued good prices next season. It had been thought that the settlement of the dispute between Australia and Japan would affect adversely la tor sales in New Zealand, but this’aspect had not been noticed and the market had finished strong, although Japan had shown a modification of her earlier keenness. “Reports show,” said Mr. Baird, “that topmakers and spinners in the Old Country have sold the greater part of their prospective output up to the middle of the year. Tho raw material position is stronger than it was three years ago. Tlio various clips were disposed of with unusual rapidity and yet there is no evidence of any notable accumulation of stocks in the wool-con-suming countries. “The United States buyers operated to a larger extent than in recent years in South America, New Zealand and Australia, and they bought substantial weights of tho fine grades in London. Russia also bought more wool in various markets. Consumption seems to have kept pace with new arrivals, and a good deal more had to be bought to provide for machinery requirements during the long interval between the closing, down of the past season and the opening of the next season. “Stocks of tops on the Continent arc lower than they were a year ago, and the latest records of stocks of wool in the United Kingdom show that the tola) is lower than it has been for some years The position seems to point to a con tinuance of good prices for our woolgrowers for next season. “Tho experience of guaranteed prices for our butter and cheese for producers is certainly in the experimental stage, but the average business man has no faith in any scheme where a Government interferes with private enterprise.