THE WOOL MARKET

Waikato Times, Volume 127, Issue 21177, 29 July 1940, Page 11

THE WOOL MARKET

RISE IN’ PRICE UNLIKELY EXPORTS FROM DOMINIONS (United Press Assn.—Eler. Tel. Copyright) LONDON. July 27 There is a good deal of discussion about the redistribution of the world’s raw wool and also the wool textile markets. It appears increasingly improbable that wool prices will advance further. Some South American reports predict that the rearmament programme will create a new stimulus, but the United States purchases so far have only slightly increased American values. Argentine exports to May were 20 per cent below those of the previous season. The Uruguayan market has suffered severely. Britain’s established markets for yarns and cloths have been reduced, but competition overseas from European mills has ceased. It is thought that some valuable new markets may be captured. However, British firms ask high prices and have no intimate knowledge of markets like those in South America. Bradford circles are again commenting on the growth of direct exports from the Dominions to foreign countries. It is believed that Britain’s re-exports of wool have been declining for this season. Canadian mills are rapidly increasing production. South African wool growers are urging the Govrnment to investigate the possibility of the erection of woollen mills in aouth Africa.