THE WOOL SUPPLY.

New Zealand Tablet, Volume XXVII, Issue 23, 8 June 1899, Page 15

THE WOOL SUPPLY.

In a recent issue the Financial News (London) says:— The recurrent droughts in Australia and the steady increase in the breeding of crossbred mutton in the River Plate, as well as in Australia and New Zealand, are exercising a marked influence upon the markets of Europe, and the question repeats itself in many quarters : Is there a scarcity of wool actual or probable ? With respect to merino wool, the following figures illustrate tbe position : In 1895 Australia (without New Zealand) produced 1,626,000 bales ; in 1896, 1,502,000 ; in 1897, 1,472,000 bales ; in 1898, 1,300,000 bales ; total, 5,900,000 bales. If the production of 1895 had been maintainsd during these four years Australia would have supplied 6.500,000 bales. Thus, in four years, the production is about 1,000,000 bales less. Besides this, in the Unite I States, under free wool, the farmers had either decimated or destroyed their flocks, and it is stated in that coantry, on the figures of 1892, the diminution was 50,0C0,000 yearly, or, counting 4001 b a bare, 125,000 bales yearly, or 500,000 bales for the years we now consider, which makes a total of 1,500,000 bales with the deficit in Australia. In the other producing countries we only find a slight increase — viz., the River Plate, in 1895, 513,000 bales ; in 1896, 643.000 bales ;in 1897, 550,000 bales ; in 189S, 555,000 bales ; total, % 16 1,000.. bales. Counting one bale River Plate as equalling two bales Australian, this is only an increase of 302,000 bales, thus leaving a net deficiency for the four years of 1,200,000 bales. Russia is a producing country, but she consumes all she produces. With wool scarcer, as it seems to be on the foregoing figures, it cannot be long before we have higher prices for yarns.