THE WOOL SEASON.

Hokitika Guardian, 1 June 1923, Page 3

THE WOOL SEASON.

WELLINGTON, May 29. During the wool -mason which Ims just closed so far ns Wellington district is concerned, Wellington woolbrokers catalogued in all 12b,994. bales, as compared with PS.SOS bales in the 1921-22 season and G 0,051 bales in the 1920-21 season. The season just closed was remarkable lor the splendid recovery, especially of crossbred wools. In the season 1920-21 the world suffered from ;> severe slump, and there was wool in abundance, the holdings of old wool being estimated to take some years to liquidate. In connexion with the new clips in the succeeding season, the demand for line wools became, pronounced, and the scarcity of this | class of wool was recognised and tallies appreciated accordingly. Crossbred wool was in excess supply and a. drug in the marker. The season just ended saw a welcome change. The Fordney tariff of the United -Slates came into operation on September 21st, 1922. and under this tarill, wool was subject to a duty of 31 cents on the clean, content, the duty having been fixed after a big struggle. American manufacturers sought a cheapet grade of fine wool than merino, and at the October sales in London they set the .pace for fine crossbreds, which w..s reflected in the sales held in New Zealand in November. The December sales also saw prices firm and at the January sales buyers' limits were elastic, and every grade of tine wools from •Is's upwards sold at big prices. On January 25th the French and Belgian armies occupied the Ruhr ) alley, and immediately imposed a 10 per cent duty on all goods imported into the district for whatever destination in Germany. The mark and the trnne collapsed. German contracts with Bradford houses wore cancel led, and wool dropped in value. The drop was first reflected at the W anganui sales, and was noted at all subsequent sales. At the February sale there was a measure of recovery, and owing to Japanese competition low crosslink's of the Lincoln type recovered, and were practically at the January level and did actually get back to that level at the March - sales. Other wools recovered at the subsequent sales, and the season ends very satisfactorily for all concerned. One fact stands out- prominently, and that is the growing importance of the marketing of the wool within the Dominion. It is estimated that fully SO per cent of the clip has been marketed locally.