NEW ZEALAND WOOL

Wanganui Chronicle, Volume 80, Issue 264, 6 November 1937, Page 8

NEW ZEALAND WOOL

PROSPECTS FOR SEASON A BUYER'S COMMENT [ Per Press Association.] WELLINGTON, Nov. 5. Discussing the prospects of the coming New Zealand wool sales, Mr M. lartaokver, of Wellington, woolbuyer, who returned to-day by the Tamaroa from England, said that ho considered that the New Zealand farmers need have no cause for alarm. Notwithstanding that the market had dropped, he thought that the woo', conditions were very healthy. The reason why the September sales at home were lower was purely through lack of confidence brought about by the political conditions and the Wall Street fluctuations in America. As stocks were abnormally low in Yorkshire, there was rot a manufacturer or spinner who could give as a reason for the drop in September that they were overstocked. As a matter of fact, the week before the sales what really greasy wool was offering was snapped up, and yet between that and the opening of sales confidence was so shattered that trade in general “had the wind up.”

With regard to Japanese buying prospects, he said that one would naturally conclude that as Japan was using much more wool for military purposes they would require more wool and would be heavier buyers than usual, but finance would have a say in it. However, he would bo surprised if they did not take at least as much as last season. There were no complaints about the condition of New Zealand wool, and he was pleased to say that, trade generally in Yorkshire was becoming more satisfied with the get up and breed of ths clips last season from New Zealand, less hair being in evidence. The general opinion was that the New Zealand farmer was using better bleeding rams and people at homo hoped that the Dominion would continue to do so.