THE CLOUDS LIFTING.

Taranaki Daily News, 6 February 1922, Page 4

THE CLOUDS LIFTING.

Fortunately New Zealand has not all her eggs in the one basket. When meat and wool were down,’'gutter and cheese were up, and now that dairy produce has sustained a set-back (temporarily, it would appear) both meat and wool are steadily rising. Freights are coming down at the same time, so there is reason to believe the return from these important staples this season will be quite profitable. Both

receded to a point below the cost of production, and obviously could not remain long at that level. The wool position is particularly encouraging. Markets at Home and in the colonies have shown a steady improvement, due to the European and American demand. The statistical position is in the growers’ favor, leading to the conclusion that prices must improve still furthex in the near future. According to the chairman of the “Bawra” the trade purchased during the twelve months ending October 31 half a million bales of Australian wool in excess of the year’s pro!duction. Sales on the same scale will exhaust by the end of November next the whole of the “Bawra” stock, plus the quantity grown up to June 30, 1922. Indeed, it is possible all the visible supplies will be bought by July next. In regard to New Zealand wool, 528,000 bales were bought during the twelve months ending October 31, against 590,000 produced. The recent revival in the use of crossbred wool, the directors of “Bawra” point out, has resulted in the actual consumption of New Zealand wool during the months of August, September and October exceeding 200,000 bales. Grouping the Australian and New Zealand figures together, the sales exceed the quantity grown in the year by 438,000 bales. Of this excess only 50,000 to 60,000 bales correspond to -crossbreds; the rest to merino. It is very satisfactory to find that in a period which includes several months of almost unparalleled depression, the consumption of Australasian crossbreds exceeded the production, and explains the recent steady rise in prices. The future is full of hope for the sheep owner, who is also now receiving payable prices for his lambs and fats.