WOOL PRICES.

Dominion, Volume 3, Issue 874, 21 July 1910, Page 5

WOOL PRICES.

« OPINION IN CANTERBURY. "NOTHIXG TO CAUSE ANXIETY." (By Telegraph—Special Correspondent.) Christchurch, July 20. The Tather pessimistic forecast regarding the prospects of tho wool market expressed recently i.n tho "Southland 'j'imes" by a prominent southern slieep farmer is not subscribed to by tho merchants and farmers of North Canterbury, who see nothing in the present condition of affairs to cause any anxiety whatever, 'l'ho woul market, thoy say, is notoriously subject to iiuctuaton, and even experts who have the world's statistics to work on aro not infrequently out ill their reckonings. Several peutlemen interested in tho wool trade, id speaking to a "Press" representative to-day, were unanimous in expressing the opinion that thoTC is nothing to justify the sounding « "h alarmist note at present. One merchant said that, while he agreeU with the Southland sheep farmers that the transhipment of colonial wool ironi America had had a depressing ellect on the English market, ho could not say that the effect would be anything nut purely temporary. His own idea was that wool prices would "come again at the September and November sules. lie Americans had been standing out of the market for the past threw or tour inuntha, but they were-bound come into it again, and most probably in time for tho sales mentioned. Another merchant admitted that it was an unusual thing lor America to' tranship colonial wuoL tu England, and this had had a steadying effect on tho market. He saw nothing, however, to justify a pessimistic outlook as to the future of the wool market. A well-known North Canterbury rarmer wns inclined to think that America's possession of a surplus of wool was a purely temporary affair, and that there would be a recovery liefore long in that country. In forecasting the wool market, the whole world's supply and demand had to be taken into consideration, not merely that of America. Another gentleman, largely mteresteii in tho wool trade and particularly in the purchasing and export .of wool, received advices from America by the mail to-day which show that the wool ftado in America is in an unsatisfactory position at present, and that several largo buyers do t not intend to be present at the colonial wool sales during the coming season. He said that it must bo remembered that while the wool was being transhipped from America to England still a large quantity that was bought in thfc colonies for. America, has not gone further than London, where it has been sold at a loss. One largo American operator in wool makes a point in his letter that is of interest to those woolgrowers who breed the class of wool that specially suite the American market. Speaking from a considerable experience of New Zealand wools, as shown for sale and otherwise, he writes:— "We are not favourably t impressed . with tho manner in which wools_ in New Zealand are shown for sale,'nor with the manner in which growers as a rule get up their clips for sale. There is generally-too littlo skirting, and not sufficient attention paid to the classing to admit of wools being purchased and shipped direct to this country, .where thoy have to submit to a duty of 11 cents (5Jd.) per lb." The writer goes on to say that this can be got over in a measure by repassing the wools, and this is sometimes done, but there is the trouble, and it leaves on hand a large proportion, of unsuitable wools.