OUTLOOK FOR WOOL.

Taranaki Daily News, 11 August 1921, Page 5

OUTLOOK FOR WOOL.

AN OPTIMISTIC NOTE. BETTER PRICES LIKELY. THE WORLD SHORTAGE. By Telegraph.—Press Assn.—Copyright. London, August 9. The Australian Press Association interviewed Mr. Massey, who said: “The impression I received, after meeting the principal leaders of the Bradford wool trade, ! who discussed the position with me publicly and privately with the most complete frankness, was that there is every reason to believe that low prices cannot last after the Continental markets are re-opened. “Germany already is developing a considerable dem ami for New Zealand wools. Poland and Russia are suffering from an unprecedented shortage of clothing, and must ultimately be re-clothed, unless allowed to perish through the cold of the approaching winter. Furthermore, the world’s present output of wool is not equal to the pre-war supplies. There is also a common shortage which must create a demand for wool. . “The present trouble regarding New Zealand wool arises from the accumulation of British Government stocks, equal to one season’s clip. In the present state of British finances there is always a possibility of the wool being marketed with a view to cutting loss. Bradford stocks are iow, I understand, and wool speculators are already beginning to operate in anticipation of a rise. “Reports from the Argentine indicate that cattle are beginnnig to supplant sheep, because the latter are unprofitable. “All these influences are co-operating in favor of New Zealand wool prospects when the present slump has passed over.”