The Wanganui Chronicle WEDNESDAY, DECEMBER 23, 1925. A BETTER OUTLOOK

Wanganui Chronicle, Volume LXXXII, Issue 19478, 23 December 1925, Page 8

The Wanganui Chronicle WEDNESDAY, DECEMBER 23, 1925. A BETTER OUTLOOK

While the Dunedin wool sale, held on Saturday and Monday, has not had the effect of giving the southern growers an unexpected Christmas box, its results will probably be regarded as sufficiently reassuring to justify the sheepfnrmers throughout the Dominion in forgetting their troubles during the Christmas season. The “Otago Daily Times” on Monday reported that it was apparent that there was more life in the market than had been anticipated from recent reports received from northern centres, and Monday’s selling evidently confirmed that impression. That competition was fairly keen and that the prices were at least up to the level expected by vendors are indicated by the fact that 95 per cent, of the offering was sold. In the absence of complete information as to the nature of the wool offered it is difficult to institute exact comparisons between the prices at Dunedin and those recently ruling at other sales. Southern opinion is that values were fully equal to, and in many cases in advance of, the values shown at earlier sales. At this distance from Dunedin a very careful checking of the figures suggests that there is no very substantial ground for the reference to higher values, but there is certainly cause for satisfaction in the tone of the market, in which the activity of the Bradford representatives was an important factor. It is pleasing also to learn that the Continent’s requirements are not yet filled, Continental buyers still taking a prominent place. The fact that Bradford is buying freely will be generally regarded as an indication that prices are not likely to recede. At the opening of the season prices were above Bradford’s ideas of value, but we must now assume that this particularly sensitive section of the trade is convinced that bedrock' has been reached. The prices admittedly are a little below the expectations formed prior to the opening of the season, but if the market is maintained at the present level wool-growers will accept the season’s results with equanimity. The demand for wool certainly should* continue, for supplies, so far as New Zealand is concerned, will be short of last season’s total, the unfavourable weather of the spring having caused a loss that is estimated at more than lib per fleece. On the whole the Dunedin wool sale has done something to improve the outlook.