THE GOLDEN FLEECE.

Wairarapa Daily Times, 3 December 1926, Page 5

THE GOLDEN FLEECE.

OPENING PRICES SATISFACTORY. “BETTER THAN EXPECTED.” The remarks of Mr J. J. Bryce (chairman of the annual meeting of the N.Z. Farmers’ Co-operative Distributing Company, held at Feilding .to-day) with reference to the wool market, were exceptionally interesting, Mr Bryce, said: CThe Dominion wool sales held so far this season have shown opening prices very little changed from those ruling during the 192526 year, and while not so high as some of us would no doubt wish, they arc probably better than we had a right to expect.

“When one considers the lengthy coal dispute in the Mother Country, it is really astonishing that wool should open at such satisfactory prices, for, after all, Bradford is the centre of the world’s wool trade, and it is to Bradford we look for our chief market. The manufacturers in that centre of the world’s textile trade have, we are told, during the strike period paid as much as six times pre-wax value for coal; and, apart from that, there is the diminished Spending power of the masses and the general stagnation of the trade that must result from such a confiie.t.

“Now, as to the future—it is not, of course, wise to attempt to forecast the probable trend of the market during the coming season, but I do think that we will, at the conclusion of the sales, be able to congratulate ourselves upon fair markets; beyond that I will not go. We may see prices even a little better than those ruling at the earlier sales, but even if we do not, I am of opinion that we will not be compelled at any stage this year to accept what can be termed low values for our wool. “With the sales held So far this season there is this encouraging feature — that competition has been well spread and fairly general, Bradford, American and Continental buyers having all been in the market, and while we have ad these using countries competing, we need not, 1 think, fear much in the nature of a set-back.

“The French, so far, have operated very sparingly, owing to exchange going against them, but, all things considered, as far as one can see ahead, the future points to firm markets with prices much the same as ruled during the major portion of las't season.”