BRIGHT PROSPECTS

Hokitika Guardian, 31 October 1933, Page 6

BRIGHT PROSPECTS

OPENING WOOL. SALE IN N.l. the OUTLOOK: IN AUSTRALIA CHRISTCHURCH, Oct 29. Prospects for the owning cf the. wool season in the North Island next month are exceedingly bright, according to Mr It. 0. Courtney who, for several years, has made penomcal visits to most of the Australian states, and who returned to Christchurch on Friday for tlici woolclassing season in New Zealand. He -stated yesterday that Australian glowers were looking to the future with tile greatest confidence and that what occurred in Australia must necessarily have its effect in New Zealand: Mr Courtney will leave shortly for the south to undertake the preparing of th e wool on one of the largest merino stations in the Dominion. Five years of unprofitable prices for wool in Australia had depleted the reserves of the - growers and caused widespread distress, but the workers of the land, who weie be depended upon so much, would jjdii through, as they possessed much grit and determination, said Mr Courtney. The “hand-to-mouth” existence of many of them had actually been the reaction of five or six years of high prices. Today graziers and selectors were jubilant concerning their returns this season and most of the burry and dusty’ wools sold in the early sales were realising, at one an average of £lB a bale. To-day it would average about £ls 15s. A BLESSING IN DISGUISE Now: that the market was more stable most graziers and selectors would be able to balance tlie budget for the present season at least. The set-back, in one sense; had been a blessing in disguise, and the younger generation would take a lesson and be more thrifty in the future. There should be general rejoicing in New Zealand when the wool sales opened next month in the North Island. There was every indication of the struggling farmer receiving a payable price for his efforts. There' would be a strong demand/ for crossbred, halfbred, Corriedale, and comeback this season. Owing to the droughts that had prevailed in most Australian states this season the . wool had become hunger-fine, with the result that there was an abundance of the finer type of wool on hand. It was exasperating to learn of the many cases in which Australian farmers were selling their wool to speculators. Those farmers .. ..sold , the Wool for a certain sum a pound before the sheep were shorn, little realising that the first sales in Sydney would open with a 40 per cent, advance on the previous season. Consequently they regretted not having regarded the advice of the brokers. SELLING TO SPECULATORS The tendency for the- small Australian farmer to sell to speculators was very unwise, for, more often than not, the-, grower was the loser. It had taken the brokers several years to organise the wool-selling interests of their clients and their organisation had proved to be one of the most reliable in the world. It would resolve any doubts on the part of the owner if the situation was so much more promising. Naturally.' the position in New Zealand ivas very much the same as in Australia. On arrival i n Central Queensland last- March Mr Courtney was amazed at the. ravages of the doughts. On one of the largest stations in the world, Terriek-Terrick, 250,000 sheep were shorn in normal seasons. In March he classed 12,000 old ewes which were shorn and turned out to die. Lambs were being destroyed during the lambing season owing to the scarcity of feed. 'On a neighbouring station, Alice Downs, which usually ran 50,05) sheep, no more than a few hundreds were being killed .off, and many more were on agistment. Sheep were being sold here at a shilling a dozen at one stage. “Imagine the jubilation of the farm-, ers when a beneficial rain fell in July,” said Mr Courtney. “It transformed the whole of the dry country into herbage, and saved graziers and selectors from disaster.”