S.A. WOOL CLIP

Gisborne Herald, Volume LXVI, Issue 20108, 30 November 1939, Page 3

S.A. WOOL CLIP

£15,000,000 CHEQUE INCREASED RETURN JOHANNESBURG. Oct. 20. With normal good fortune in t'he way of weather, South African farmers can exipect a period of prosperity as a resutr of the war. It is believed that this season’s wool clip will yield an aggregate cheque of between £14,500,000 and £15,000,000 as compared with £8,750,000 for last season. This greatly increased return is expected in spite of the fact that the clip, according lo present official estimates, will decrease from last season’s 800.000 bales to about 775,000 bales this season. The first estimate prepared this year put the clip at 750,000 bales, but since then the weather has improved and reports from all over the country indicate satisfactory progress among flocks. For the moment the United Stales is the principal buyer of South African wool, but as soon as the necessary credits are arranged Japan and Italy are likely to operate on a considerable scale. It is pointed out that Japan will have to buy in the South African market since Engl and has bought the whole of the Australian and New Zealand clips. The South African experiment of maintaining an open wool market with Great Britain a regular buyer is expected in official quarters to prove highly successful. The indications are that the prices ruling at the opening of the new marketing season will be maintained as soon as Japan and Italy start buying.