WOOL PRICES.

Manawatu Standard, Volume LX, Issue 127, 29 April 1940, Page 10

WOOL PRICES.

EFFECT OF BRITISH PURCHASE. The Australian wool clip this season is estimated at 3,400,000 bales by Winchcombe, Carson, Ltd., Sydney, which raises some doubt as to I lie level of prices without the British Government purchase scheme. South Africa has sold her wool at. good figures, but that is largely caused by the increased needs of Great Britain and France, and the consequent concentration of competition for Merinos from neutral countries on South African sales. Bhe British Wool Control. naturally, will be very careful of the volume of supplies it gives to neutral countries. Holland, Belgium, Italy, and other European countries, under normal conditions, export wool and semi-manufactures to Germany. The necessity lor the limitation of sales to neutral consumers is regrettable. In the interests of selling when peace comes it is desirable to keep up the use of wool. The chief consideration at present, however, is the winning of tho war. In the 1914-18 war, the high price of crossbred wool, and demand for mutton and lamb. caused a large increase in the proportion of crossbreds pastured in Australia. A similar development may be seen in this war, particularly because of the relatively good figures being paid for lamb bv the British Government. The 1938-39 clip' was 16 per cent crossbred, but in 1917-13 the proportion was nearly SO per cent.