THE WOOL POSITION.

Waipa Post, Volume XX, Issue 1244, 18 May 1922, Page 2

THE WOOL POSITION.

FAVOURABLE FOR HIGH PRICES. Although wool values, and especially crossbred wool values, are depressed, the outlook is exceptionally good. The trade has now undergone a remarkable rtvolution during the past eight years, measurable from the fact, as is ; pointed out in the Times Trade Supplement, that while good Australian half merino unwashed is now averaged at 24d per lb, against 12d at the end of March, 1914, Lincoln wool is at 9d, fully 3d down from 1914. The drop in the value of low crossbred wool is in a measure due to the Continent of Europe being unable to buy, and this: defect will be remedied as time goes on. Another remarkable change revealed by the figures for 1921 relates to the United States. This country is going to be a very big customer of Australian and New Zealand wools because the domestic production is decreasing. Thus, comparing the figures for 1913 and 1921, there is revealed this retoiarkable fact :

1913 : U.S.A. production, 296,000,0001 b ; imports into U.S.A., 195,000,0001 b ; total, 491,000,000. 1921 : U.S.A. production, 224,000,000 ; imports into U.S.A., 315,000,0001 b ; total, 539,000,0001 b. From the above it will be seen that while the production has decreased by 72,000,0001 b, the imports have increased by 120,000,0001 b. The domestic clip tends to decrease, and the heav> tariff imposed is for the purposes of reviving the sheep-raising industry, if that be possible . The population of the country is of cour'se expanding. The United States must therefore continue to import wool in large quantities, and sooner or later the Americans will realise that it will be to their advantage to admit raw wool duty free.