THE WOOL MARKET.

Stratford Evening Post, Volume XXXV, Issue 59, 11 March 1913, Page 4

THE WOOL MARKET.

The continued buoyant condition of the wool market should, remarks the “Wellington Post,” bring joy to the grower and satisfaction to all who have the welfare of both Australia and New Zealand at heart. The exports of Australia have been curtailed, due to dry weather, to the extent of 112-132 bales for the season to 31st January, while New Zealand shipments for the same period have been increased by 36,465 bales. As the two countries combined for the seven months ended 31st January exported between them 1,663,239 bales of wool, it will be recognised that any shortage of production in this quarter of the globe will make itself keenly felt in all the wool-working centres. The latest news from London of the sales which opened there shows that New Zealand wools realised splendid prices, crossbreds selling at 7\ per cent, above last January rates. It is clear that the manufacturers must have the wool, for consumption is increasing on the out hand, while, as is shown above, with regard to Australasia as a whole the production is reduced. At the same time the wool market is of a fickle nature, as growers, well know. Manj causes to bring it down to an unpayable point could be suggested, and among them are industrial war oi national war—two contingencies that are by no means remote, if indeed they be not very near already. That being so, the exercise of caution in expenditure and economy in management are not yet unnecessary, for with wool at a high price one may truthfully say that it cannot be told what a day may bring forth. Beyond a certain point, as is well known, demand is automatically shut off, and the question for wool growers to ask themselves is: Is that point far off, and if so, how far? In any case financial safety seems to lie in regarding it as close at hand, no matter how remote’it may.be.