WOOLGROWERS' PROFITS.

Wanganui Herald, Volume LIII, Issue 15975, 18 November 1919, Page 5

WOOLGROWERS' PROFITS.

LIKELY TO REMAIN HIGH. RAW MATERIAL WANTED IN EUROPE. Australian and N.Z. Cable Association. LONDON, November 17. Business firms as well as official authorities interested in wool trade agree in predicting that growers’ profits will remain well above the pre-war average for the next two years, whether the British Government attempts .ancfclier deal or adheres to the arrangement terminating the purchase in June, 1920. The war has left Continental Europe almost bare of home-grown raw material, and the absence of the Russian contribution leaves a great gap in tbe normal supply. Recovery in other countries has scarcely begun, hut Europe must bo clothed and Hie restoration of Continental manufacturing will far precede tbe local production of raw material on a large scale. The Franco-Bel-gian mills are resuming strongly, and German and Austrian will, soon follow tempted by consumers readiness to pay high prices. The rapid consumption of manufacturing largely explains the extraordinary bidding at the latest wool sales.