THE WOOL MARKET.

Stratford Evening Post, Volume XXXII, Issue 38, 9 February 1912, Page 4

THE WOOL MARKET.

Although prices have been maintained throughout 1911 at a level which should prove remunerative to avoolgrowers, the result of the year’s evorking has been somoAvhat disappointing, inasmuch as the anticipated revival in the American demand, Avhich has been confidently looked for in the spring, did not com© off until November. Consequently the .market, has been an a groat measure depriA*od of the support AAlhich, under normal conditions, is available from this section of the trade for the better descriptions of merino and crossbred

greasies, Messrs Balm© and Co. go on to say, hoAvevor, that consumption in Europe, particularly in England, has been well maintained, and sufficiently vigorous to absorb available supplies without any material modification of values, and this result has been achieved in spite of uneasiness can,seal during the late summer and early autumn by European political complications, as well as by industrial troubles in this country, and to a. minor extent on the Continent—ia fact Avhich affords a striking illustration of the increase in the consumption of wool during recent years, and the narrowness of the margin which exists under present conditions of production for any further expansion in the requirements of machinery. Referring to the outlook it is stated that durivg 1912 no augmentation in the Ncav Zealand clip is looked for;

indeed, according to the more recent returns, .Messrs Palme and Co. think

it probable that this year’s exports will be slightly less than those tor the previous season. On tine whole, prospects for l!)ll? are favourable. 01 course tho dry summer of 1911 has somewhat prejudicially affected trade in Europe, which has also boon hampered by ever-growing demands of labour. At the same time with the increasing spending power of the masses, the demand for woollen goods is continually increasing. In these circumstances, with a more or less stationary supply of merinos, and the prevalence of a moderate scale of prices, there seems every probability of a full maintenance of quotations, us it has been proved during the past year that there is no surplus of the raw material to meet any further increase in consumption, after normal requirements of machinery have been (satisfied. Supplies of crossbreds arc likely to ho considerably larger titan last year, hut, judging by tho strength of American competition for crossbreds during the past two months, it appears reasonable to expect that the increased demand from that quarter, whore stocks of imported wool are unusually low, will at least be sufficiently vigorous to cause quotations to be maintained at their present level and possibly placed on a higher basis.