WOOL MARKET

Evening Post, Volume CXXVI, Issue 153, 2 December 1938, Page 14

WOOL MARKET

BUYER ON THE PROSPECTS

The impression that prices for wool during this season will probably remain steady at about their present level was gathered by Mr. Herbert Hill, of the wool-buying firm of Walter Hill and Sons, who has returned to Christchurch after a trip to England, the Continent, and America, which lasted seven months. Mr. Hill is reported by the "Press" to have said that he could see no reason for expecting a decline in prices, but he could also see nothing that would make prices rise very much. When Mr. Hill was in America three weeks ago the position looked hopeful for more extensive business with the United States in wool this season, but so far this business had not fully materialised. It was probable, he said, that more business would be done this year than last, but the total would not be great. The tariff was still a great handicap to buyers in the United States. American buying would probably again- be mainly of low wools. The British wool textile industrywas working generally only about halftime, but there was not a depression in the industry. Recent international readjustments had affected many of Britain's markets, such as those of China and Czechoslovakia, and the British industry had to look for new outlets. Stocks of wool were not heavy in Britain, and the steadiness of prices had been an encouragement. Those in the industry were not looking for a depression, but were reasonably sure that there would be no large appreciation in prices.