NEW ZEALAND WOOL.

Star (Christchurch), Issue 17245, 11 January 1924, Page 7

NEW ZEALAND WOOL.

VERY LITTLE SOLD FOR LONDON. (Special tq the ‘‘Star.-*’) January 11. At tbe Wanganui wool sale one German buyer alone took approximately 5000 bales. This is an indication of the remarkable change which has come over the method of marketing the New Zealand clip. Prior to the war the custom of tho growers was to send the wool to London for sale, and it is estimated that between 60 and 70 per cent of the total was disposed of. To-day it is estimated that only per cent of the Dominion’:* fleece is shipped to the Homeland for sale. The reason of the new slate of affairs is that Home and Continental buyers find it more profitable to buy in New Zealand and Australia. Storage and railage charges in England are avoided, and the expense in double handling js removed and a shipment can be made direct from New Zealand to the Continent and Bradford through Hull. This is the reason why Dominion values have been better than London by practically a penny a pound. Australia and New Zealand are now the main wool selling centres of the world, and Home woolbrokers have been forced to consider whether it would be? advisable for them to amalgamate and abandon their huge accommodation stores. One of the largest "Wanganui woolbroking firms state that this season they have pot received instructions to consign a single bale to the London market.