OPTIMISM IN WOOL TRADE

Taranaki Daily News, 18 November 1930, Page 9

OPTIMISM IN WOOL TRADE

MERINO POSITION BETTER INCREASED ACTIVITY EXPECTED. MANUFACTURED GOODS CHEAPER, i ■ ■■■ ’' ' By Telegraph—Press Assn.—Copyright. London, Nov, 16. Wool prospects are encouraging, as far as Merinos are concerned, and the Bradford market is inclined to be optimistic. According to the Yorkshire Observer, ‘Encouraging reports emanate from various well-informed quarters regarding the position in the Merino section of the industry. Oneestimate based on an •exhaustive survey' of the position' leads to the conclusion, that the activity in Merinos all round, including topmaking, spinning and Manufacturing, is 10 per cent, better, than it was three weeks ago. There seems to be no reason to question the fact that there is a decided improvement in the output of Merino tops consequent upon the extending demand for Botany yarns and fabrics which recently occurred.” “The wool industry looks like coming into its own again soon,” the writer adds. “Such an expression of optimism at a time when the palpable reasons for depression have been only too evident for so long may seem unduly venturesome, but the question may reasonably be asked if, when wool of the finest type costs only about 24d or 25d per lb and semi and fully manufactured goods are correspondingly cheap, the foundations for increased demand and more extensive industrial activity do not exist, when are they going to do so?.” BUYER MAKES PROPHESY IMPROVEMENT SEEMS UNLIKELY. EFFECT ON QUALITY OF PRODUCT. (By Wire—Special to News.) . \ Auckland, Last Night. [Prospects for the coming wool sales are far from bright, according to Mr. A. G. Copeland, one of the wool buyers who arrived for the New Zealand season by the Niagara. ' He is representing a firm with headquarters in Switzerland. . ~ “Growers will be lucky if they get last year’s prices this season,” he said. “I have been attending recent sales in Australia and the prices ruling there were low. Crossbred is the wool largely grown in New Zealand, and •it is reasonable to expect that prices will be much the same as there.” /

Mr. Copeland said he did not want to 'be the proverbial “wet blanket,’’ but he said baldly that things were going to be Lad.' While prices might be a little better in Napier and Wellington, the poorer quality of the Auckland wool would prevent values from being much improved. Those who had held their wool over from last season for sale in the Dominion in the hope that the market would have turned the corner were likely to be disappointed. It would probably make matters worse for the new season’s clip. In one way low wool prices would do good, said Mr. H. P. Berry, a New Zealand business man who returned by the Niagara. Sheepfarmers in Australia would realise that wool was not to be grown in any haphazard fashion. With prices down it would behove them to improve, the quality of the wool so that the best possible prices -would be obtained. When times were prosperous a penny did not matter so much, but now the merest fraction of a penny had to be calculated.

With similar conditions obtaining all over tile sheep-raising world, it seemed likely that the quality of the wool generally would be better.