THE WOOL MARKET

Dominion, Volume 8, Issue 2407, 12 March 1915, Page 8

THE WOOL MARKET

PROSPECTS FOR 1915. , . . . In a review of the wool market, in . the circular dated- London, January 15. issued by the Bank of New Zealand, the- following sentiments are oipressed with respect to the. current year's prospects;—"ln the present existing state of affairs and. with no previous parallel to afford any cuidance, it is practically impossible to gauge the future of the markets with any great degree of certainty. The future course of values must depend upon the duration of the war, but it looks as if crossbreds will remain high under: the heavy pressure* of army requirements of ourselves and our Allies.; when all the available machinery in this country will be taxed to the "Utmost. As long as the- war lasts there is certain to be a big consumption, and-'that alone-will prevent prices slipping very much.

The. position of merinos iB of ft totally diff#rent nature. Even allowing for the decrease in the season's production owing to the drought in Australia,' supplies are likely to prove in excess of the demand. With an almost entire lack of Continental competition, and only the Home trade to cope, with the supplies,' it looks as if merinos are to ! shrink still further,' but the position might conceivably be improved if the enemy can be forced' out of the manufacturing districts of Belgium and France. 1 This would mean an increased demand, -whroh would eventually lead to considerable, buying by these countries, but ■ the raising of the embargo will, it is thought, be the first move towards merino values becoming steadier, and 60 lead to increased competition and augmented consumption.