FARMERS BENEFIT

Hokitika Guardian, 16 December 1933, Page 6

FARMERS BENEFIT

AUSTRALIA’S EIG WOOL CHEQUE

£46,G00,000 FOR THIS YEAR’S CLIP

MELBOURNE December 12,

Melbourne wool authorities have estimated that the increased wool prices at the current London sales meant that the clip for this year would be worth £-16,000,000 to Australia. This is about 14 millions more that for last year. With the reduction in interest liabilities, the Commonwealth should be hotter off. by about 20 millions as compared with 1032. A wave of optimism has spread throughout the wool industry at the rise in prices, which has come at a time when it had been estimated that there would he a shortage of 400,000 bales in the present clip, “This is a critical stage of the season,” one leading wool man said to-day. “Better rflnss wool, from the Ifufcei* shearing districts was getting the catalogue in greater quantity. The opening of the London sales would seem to assure a profitable market for those wools this season..

“Only doubt about currency position prevented a most optimistic expression of opinion regarded the prospects foi next season.”

He said factors which had contributed to the exceptionally bright outlook, apart from shortage of the Australian clip, had been the substantial shortage in South Africa, and the paramount fact that Britain had made marked progress in recovering in the last year or two the external markets, lost during and since the war.

Japan also was rapidly developing her textile industries.