WOOL SALES

Hokitika Guardian, 29 November 1929, Page 3

WOOL SALES

LOSS TO FARMERS

ENERGETIC ACTION NEEDED

AUCKLAND, Nov. 26

Commenting editorially on t°he wool sales, to-day’s "Star” states: "The best that can be said of yesterday’s local wool sales from a national point of view is that prices were slightly worse than those at the sales in the south, and that, therefore, the average of the Dominion may be better than the Auckland figures. This, however, does not amount to much against the large and hard fact that local prices are down by about 25 per cent and that many lots were pass.■;! in. A year ago there was rejoicing in Auckland Province over the prices wool was bringing, and though wool is not the chief industry of the district, those prices put a large sum into the pockets of growers. To-day there is a serious decline, and if prices do not improve during the season the loss to farmers will be considerable. This is not a. pleasant prospect, especially at this time of the year, but it must be faced. Of course, the loss in this province, il prices continue on a low level, will be only a fraction of the national loss. The chief cause of the decline appears to be the growing popularity of non-woollen fabrics. The woolgrower can counter this popularity only by showing that wool is preferable for certain purposes, by improving bis quality and by reducing bis cost of production. New Zealand already has such counter-measures in hand, but yesterday’* sales emphasise the need for energetic action. But if wool is to stay at lower levels for an indefinite period, the country must make up the loss by increased activity in other kinds of products. There is no need, however, for despair. One swallow does not make a summer, nor one storm a winter, noi one disappointing wool sale a crisis in the industry. It is quite possible that there will be a recovery before the season is over.”