AUSTRALIA'S GOLDEN FLEECE.

Taranaki Daily News, 3 August 1916, Page 8

AUSTRALIA'S GOLDEN FLEECE.

ANNUAL WOOL 'RETUEXS, A LARGE REVENUE. We liavo received from Dalgciy <ind Co., Ltd., n 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 of purchases, overseas 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 wool-grower, as it puis all wool matters on permanent record, and enables any particular aspect of the trade to be analysed ami 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 wool-grower's point of view is thai the total value of the Australasian wool clip (for export) in tlie past season amounted to almost thirty-three millions sterling, of which a little under thirty millions was realised at the local sales. It 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 the drought last season, the 11)13-14 season, with a bumper production, realised about half-a-million more than the 1915-Iti clip. The average wool revenue obtained during the past three seasons may be regarded as eminently satisfactory, and if similar returns can be secured in the ensuing season, producers will have e\ery reason to be more than pleased with tlie value realised for the clip generally. DEMAND .AND DISTRIBUTION. Tlie matter coming next in order of importance from the wool-grower's standpoint is, perhaps, that 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 and the Australian mills also gave good support. Yorkshire was the mainstay of the market, taking -11 per cent, of the offerings, as against G4 per cent, in the previous season, the smaller proportion being accounted foi 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 tlie raw wool markets, and from the present outlook it seems probable that there will be a continuation of this special demand, at any rate in the near future. '• FUTURE PROSPECT,*. The outlook for wool values is considered by Lhlgcty and Co, as particularly bright. At the close of a season which has seen the highest level in modem history, it may savor of undue optimism to iook for a firm' continuance of such prices, but there seems no valid reason to anticipate at present any tiling in the nature of a serious decline. The enormous wastage of war continue-;, and the backbone of ij:c demand in the coming season may again he the requirements of the huge armies of Britain and her Allies. The wider distribution of the past season's purchases as compared witr 1914-15 removes the danger of further congestion, and the longer breathing space betweer the selling of the old and the new clip strengthens tlie position. Consumption is heavy not only in Yorkshire, but also in America, Japan and Italy, and this, together with prospects of increased business from Fran:e, should lesult in a keen demand all round, and it vill not be surprising, on present indications, if another year of abnormally high prices is experienced, 'specially if the latest embargo which 'low shuts out America is removed.