THE WOOL MARKET.
The prospects for the new wool clip are considerably better than seemed likely a fortnight ago. The settlement of the coal strike and the removal of the danger of an increase in the Bank of England discount rate, have been factors in giving a new outlook to the trade position. Most consuming countries have been buying wool rather sparingly, that is from hand to mouth, and stocks everywhere are on the low side. If there is any sort of revival in trade users will be encouraged to get in stocks of the raw material, and the effect of sustained buying would tend to harden the market. There will be no sudden jump in prices, for Europe is very much in need of reasonably priced wool. The revival of the manufacturing industries, which must necessarily lead to increased purchasing power, and the widening of the demand, which should steadily grow in volume, should have the effect of pushing up prices. Wool appears to have reached bedrock, and is now due to rise.
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Taranaki Daily News, 26 November 1926, Page 6
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174THE WOOL MARKET. Taranaki Daily News, 26 November 1926, Page 6
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