AUSTRALIA’S GOLDEN FLEECE.

Manawatu Herald, Volume XXXVIII, Issue 1594, 5 August 1916, Page 4

AUSTRALIA’S GOLDEN FLEECE.

ANNUAL WOOL RETURNS,

A LARGE REYEUNE

GOOD FUTURE PROSPECTS,

We have received from Dalgety and Company, Limited, a copy of their Annual Wool Report for the past season, which gives a complete account of the business done in the Australian and New Zealand markets for the twelve months just ended. There is also embodied in it full statistical information with regard to the sales of wool in the various markets, distribution and purchases, oversea shipments and sheep returns, and, in a word, everything that has to do with the handling of the Australasian clip. This annual review is of value to every woolgrower, as it puts all wool matters on permanent record, and enables any particular aspects of the trade to be analysed and studied. It may be mentioned that it has now reached its eighteenth year of issue.

RESULTS TO PRODUCERS. The most important fact in the whole compilation from the woolgrowers’ point of view is that the total value of the Australasian wool clip (for export in the past season) amounted to almost thirty-three millions sterling, of which a little under thirty millions vas realised at the local sales. If would, perhaps, be thought that this sum would establish a record for Australasia, but such is not the case, as owing to the lessened production through drought last season, the 1913-14 season, with a bumper production, raised about half a million sterling more than the 1915-1(5 dip. The average wool revenue obtained during the past three seasons may be regarded as eminently salfactory, and if similar returns can be secured in the ensuing season, producers will have every reason lo be more than pleased \vdth the value realised for the clip generally.

DEMAND AND DISTRIBUTION

The matter coming next; in order of importance from the wool-grow-er’s standpoint is, perhaps, (bat of the demand for the wool marketed and the distribution of same. Taking everything into consideration, the demand, generally speaking, was excellent. American buying was wonderful, and had no equal in the history of the Australian sales. There was also important purchasing on account of Japan and Italy, while France was the mainstay of the. market, taking 41 per cent, of the offerings, as against 64 per cent, in the previous season, the smaller proportion being accounted for by the much stronger buying in the past, season, on account of America and Italy. The large requirements of the Allies in the way of clothing for the troops exercised an enormous effect on the raw wool markets, ami from (be present outlook it seems probable that there will be a continuation of this special demand, at any rale in the near future.

FUTURE PROSPECTS,

The outlook for wool values is considered by Dalgely and Company, Limited, as particularly bright. At the close of a season which has seen the highest level in modern history, il may savour of undue optimism to look for a linn continuance of such prices, but (here seems no valid reason (o anticipate at present anything in the nature of a serious decline. The enormous wastage of war continues, and the backbone of the demand in the coming season may again he the requirements of the huge armies of Britain and her allies. The wider distribution of the last season’s purchases as compared with 1914-15, removes the danger of further congestion, and (lie longer breathing space between the selling of the old and the new clip strengthens the position. Consumption is heavy not only in Yorkshire, but also in America, Japan and Italy, and this, together with prospects of increased business (Tom France, should result in a keen demand all round, and it will not be surprising, on present indications, if another year of abnormally high prices is experienced, especially if the latest embargo which now shuts out America is removed.