WOOL TRADE

Dominion, Volume 14, Issue 272, 11 August 1921, Page 5

WOOL TRADE

MR. MASSEY ANTICIPATES IMPROVED PRICES PRESENT OUTPUT UNEQUAL TO PRE-WAR PRICES By Telegraph—Presa Association—Copyright , London, August 9. The Australian Press Agency interviewed Mr Massey, who said: "The impression 1 received after meeting the principal leaders in the Bradford wool trade, who discussed the position with me publicly and privately with the completest frankness, was that there is every reason to believe that tho low prices cannot last long after tho Continental markets are reopened. Germany is already developing a considerable demand for New Zealand wools. Poland and Russia are suffering an unprecedented shortage in clothing and must ultimately bo reciothed, unless allowed to perish from cold during the approaching winter. Furthermore, the world’s present output of wool is unequal to pre-war supplies; and there is a common shortage which must create a demand for wool. Tho last present trouble regarding New Zealand wool arises from the accumulation of British Government stocks, equal to one season s clip. In the present state of British finances there is always a possibility, of the wool being marketed with a view to cutting a loss. Bradford stocks are low, and I understand wool speculators already are beginning to operate in anticipation of a rise. Reports from the Argentine indicate that cattle are supplanting sheep, because the latter are unprofitable. All influences are co-oper-ating in favour of New Zealand wool prospects when the present elump has passed over. —Aus.-N.Z. Cable Assn.