WOOL PROSPECTS

Evening Post, Volume CXVI, Issue 102, 27 October 1933, Page 10

WOOL PROSPECTS

LONDON OR LOCAL SALES

As to the prospects for the 1033-34 wool season, Dalgety and Co. report that "it is only natural that considerable speculation is being indulged in as to trend of values. . "There is justification for thinking that the tide has definitely turned and that a gradual return to more remunerative prices can be looked for. Confidence has developed very definitely and it is reasonable to anticipate that the improved conditions will prove to be permanent, with prices showing an appreciable hardening throughout the new season. The average for the Dominion last year was 5.15 d per lb, and for the North Island 4.21 d, as against 6.36 d for the South Island. It is hoped that for the North this season the average will be at least 2%d per lb better. "Fine wools should be in strong demand, also super style Romneys, and such wools will show a more pronounced appreciation than ordinary . top-making crossbreds. The outlook for wool is, however, always a subject to be approached with caution, and it ia proverbial that the wool trade records provide many instances of the unexpected happening. "The gross value of the 1932-33 Dominion wool auctions was £4,327,692, and value per lb 5.13 d, as against £3,571,776 and 5.26 d per lb in 1931-32. Increase in sales 101,039 bales; increased value £755,916. The attendance of buyers at last season's sales was again very satisfactory, and we look for further new fiiccs during the coming year. "As the Australian and New Zealand sales are now the most important in the world, it is only natural that they command the keenest attcntion-from all manufacturing centres, and the many users of our well-known crossbreds recognise that if they wish to secure the necessary supplies, it is imperative to be represented at the local auctions, where the bulk of the clip is now marketed. _ Cnyirig to the low prices which were ruling in the Dominion last season many growers decided to ship to London, but generally the results from this procedure have been most disappointing."