POSITION OF WOOL TRADE.

Taihape Daily Times, Volume XI, Issue 3338, 17 November 1919, Page 5

POSITION OF WOOL TRADE.

HIGH Pnicns FOR TWO YriAns.r UNPRECEDENTED UNIVERSAL - ‘DEMAND. Received Noon. LONDC:.‘~I, Nov. 14} Business firms, as well as official authorities interested in the wool trade agree in predicting,that growers’ profits will remain well above the pre-war average for the 11ext‘tW0 years, whether the British Government attempts another deal or adheres to the arrangement terminating the purchase in J-une, 1920. The war has left Continental Europe almost bare of homegrown raw material, and the absence of the Russian contribution leaves a great gap in normal supply. Recovery in other countries has scarcely begun, but Europe must be clothed. The restoration of Continental manufacturing will far precede the local production of .ra.w material on a large scale. France -and Belgium mills are resuming strongly, and German and Austrian will soon follow, tempted by the consumers’ readiness to'pay high prices, The rapid consumption of manufacturing largely oXDlains the extraordinary bidding at the latest wool sales,