NEXT WOOL CLIP.

Hokitika Guardian, 5 April 1930, Page 3

NEXT WOOL CLIP.

A. HOPEFUL VIEW

Writing just before the lest London sales commenced, Messrs Winchrombe Carson and Co. reviewed tlie .general position of the wool industry. They pointed out that “Wool is not the only commodity affected by recent stringent world-wide trading conditions. Most other products, including metals, have dropped hi value. Cotlon, which, for a' long period, lnLde relatively satisfactory' figures, has recently been quoted at 74d per lb. -A year ago the price was 10fd. The 1914 rate at this period of the year was approximately did. so that cotton is oiiiy id per cent above pre-war basis. The general decline in prices for raw materials is a contradiction to those ,who express opinions that the position of wool values is due to artificial conditions created by consumers abroad. If money was plentiful, trade won id bo better, and, wool and most otliei commodities, wouid probably he dearer. When freer supplies of finance arc available business generally wiii revive. We hope as the sheep’s staple Was one of the first materials affected by the monetary it will be >i *•'<« I font ' faiilr when’ conditions

brighten. ■v. ire ;instances favour wool beiiedin tr hr mo lly when the world is in better trading fettle. For. a long period all concerned in the purchase ,r t,,ps, yarns and textiles have bought in hand-to-moutli fashion. The public lias purchased as little as possible from the retailer. The retailer has curtailed his buying from the warehouseman, and the latterhas bought sparingly from the manufacturer... A short- period ol better 'business would see all those mentioned, seeking supplies and raw wool in its turn would eventually benefit. l>ut it is impossible to state when the world will find money more freely, available. ■ , .

“We do not anticipate that nnfi-h improvement in prices will lie experienced during the. remainder /of the selling year. We do bc-pe, howo'oi, fo sec the supplies bn liaild. all .Isold -by about the end of duly, and the., larger part of the wool bought; -.sold by millmen in the shape of ' manufacturers, before the new clip commences to be offered. If that hope is realised a somewhat improved range of prices can l)o expected for the new clip now on the sheep’s hacks.”