THE WOOL PRICE

Press, Volume LXXVI, Issue 23003, 24 April 1940, Page 6

THE WOOL PRICE

i POBKfiaaj COMMENT | l I Cs©MiPAIRi&ON WS3M WORLD j •PASBSTK j | Very jpodanitofl ir.emjstcfcs regarding thej •awQoa situation -as .asKaatitig the New, ZaaOaiad shaeffigrowiar wbcb made the, .other day iby Mr X,. T. IBaniell, Mas-j rtentan, an ithe .course of an interview. ; 'Same ipnovisian Jlhauld ibe made for, ibhe ipiioteatian <exf -our Marketing Deipar.tmaiat .against rtihe .aowen&il British { woßSHbuyilmg Anrtier.ests," :said Mr; Etenieai.' -".Otherwise itiiae .people who, _' produce the commodity and have to J put up with the price obtained 1 ihavte some .definiite &W $® "tbe .negotiations. With mw bitter .experience, , of the 1921 .wool slump, certain even- , iualities might have <b.een foreseen < ivad rtekie twood <giJ<Dwei3s iheen consulted. 5 "It must now be dawning on our j Marketing Department: — "•Ca) That the price for which they 1 so gaily signed us up is far below i world parity. 3 "Ob) That the price which Britain ~ .immediately signed up with Canada i was a parity far above ours. "(c) That the price Britain signed : ■with America in the same fortnight « was enormous. "Od) That the wording of the pro- ] vision regarding resale of our wool, was careless. "(e) That the sudden jump made in the fixed price of Bradford tops on March 1 looks wonderful in English money, and magnificent in New Zealand money. "if) The lack of provision against Britain storing raw wool and thus starving our foreign raw wool markets to our future detriment showed lack x»f aiadarstanding of .cair recent wool history. "Umder the agreement published by the Marketing Department last December: — "(10 Britain was given 'the iright till the end of the war and the season jfoliovwiag tto ;put:cfasse the whole of our wool .clip at ;9.8 English pence per lb, which means 12.888 pence XN.Z.).. "(2) Britain also has the right to , half the -profit -on resales of raw wool ; sold outside the United Kingdom; . -and "(3) The right to retain all profits , till tb_e end of the war. "These are the three fundamental points of the deal. Sales <to America "But look what happened next. Britain was -negotiating sales of wool no America and Canada. In both oases the Governments came in and fixed prices which are interesting when reduced to New Zealand money. The Canadian price was ifised .at 35 cents per lb, ifaumerly 22id. but with the exchange rate ruling in 'December is equal to 30Jd per lb New Zealand. That is an interesting fact for those who received l'2£d ior their wool. •commission on resales oi wool to Canada would 'be '9d -jper lb less IBr-Jtain's ihalf-sbare -of the -expenses New 'Zealand -to 'Canada. 'Britain re-; ?oejswes i*ts profit at once,, :and New Zea-; land waits till the .end of .the >wjar. "The crucial jxoint is Ahat the tfeal ; ißigbt 'be .aSI right .as iar .as Australia, is concerned, as muith .of Ate wuca -& .suitable for iKesale .to'J.apan,, .Arsenica:,' .. and other countries, Whereas Idftw .Zealand .wool, being largely .of the "kind .suitable Xox jaritainte jr.etOjUiUieiaaeats, a* cot 'JUsely A© he resold .to ,8-ny eattenit, and in >aonsa«3.uenae there <can «t bt>at be little sPiiQfit lor. New .Zealand <qd -nesales. "Hbe itTaaited S&tetes G:»MeniaroeHt fisxed; . price is '54 cosaats, -.wiaich iaat D.eaemherinaeestt iia ilfew -&fi«ul*ttwl imaney .'Bs 4W-: This isaeant tfchart on trssale tflhe JKew; Zealand .futodjaeer wtoiSW .itaceiwe 12&d,i the Bautiah 'GoMarnraent il4d, iless ' <raf textperases, .arwi somebody; : do sßew Zealand, ?s© tfar lundssigmrteiflj ■ ivwitM ©et anat'hor l&d. M fe -fair l that ithese ffiguMiets ahoutld ibe imdor•stood., -first ifoy it'be twrners, and tihen (by tlhe i»esit -of fflhe community. 'This; ! as icoasDiiiiiatiian -oif an -imbailanead !kind.: "3?he lunclar :«he ©ritsi^h' pOTcfease ,p!lajp !iteeeiiv«s -wortd .-panity; ' Sor 3ais ipr.od*wJte.; tthe -w.heatgrovKer.: ; sets flvsQiJ ;ahoj'.e M; ,yet ,th.e wool. ' .grower does not get 7,0 ; per .cent, cot'.' world parity. ! SMM OF ): ; ' <JATH«: j; : Tfee.®ninißail -.saje .of -caittle icom 01eo;l' i Jjyoia «nd Kuxlejy Stations -was 1 ! 1 held on friday 'by iP-yne., <Gou!ld, -Gutfi-' ness, Ltd., at the Te'muka yards. The entry .cs.ix\pxisjad 373 .haad .Pi JBlaek ffteSlfl iaaad (Sseqjss ifiatttto;, tfte «a*ffl<e (Bonsaftsig SprwweiTd Sea sascfilHent (ftQadMsws.. tflhe. \was iwxt suatoisKtaja, (oasnipatiitiifflia $w <eash ftot «®s <aawoad„ sfmxw USswdib <Sttago saad Mid-<Gantesntoiiw .«s®»riiiajg tfibfiir ; .-ahame c6tf tfllae (pjfeninp;g. wv«icg;— Fsat ifitMss smS ihteifecs £fi Ss tto .i&9 -ftfis., jfesroswaS cowws syas Hxeiufeiss £.s tto I ,Cis Mis., ©teak Wi<M sateens | j£(6 2s (6d (to £& t s M,, ttfintniamtahs Ma.* ! JReM .-staeais &S Ms tto £$ 42s (6d. !UB- - Ki».9Miihs iE|ej.-(eSar(d corpus 15s i it© £3 8(8?, flJßnW«i«lH>s la.efflesfeiwj iataet's i £:8 iWBs rtio £4 Ks iß«ft, Ha* m<Sl ,-ateer «aflvvie« £■s tto && jigs M„ Wlasik lßffß- ; ffffiemesforid cenoss (jjaMes J&S AGs ito &4 ,«s„ .ffferssfewd >st©&r vQsSlv c es ,£;8 .«d *o 155,, ®laQk taeafer (caiiwfis .C 8 ;5s ftp .£;S Hgs M„ Biask ■jßqJMlfeirei jforcd ipjjogs iheifer (saikvoes i£:B Ms (6d cto I j&8 iSa. &®U TRIALS The arsnual dniefe <o.f diiae <<s&jf:ftis!il (GoUliie ■ Club woill be lixeld tdtojs sfiSW ( «n M«n- " , (day, Tuesday, aog Mqy 3K7. ' • SB, ;and 29. IHhe (Canterbury :QtomHi<a»a!sßS \W4II be held ;ia (.eonju-ifteSioja vwiulb rthe (tasSaud i -trials. The triail \\v)hAqh jjs >o.n i Mr C F. mmvA iffitfil iprnqpsnty, ; some jnailes from rf|he tto.W»a«?P, iis ';a first-class testing iguomnift. pin (Cwnrnqn ' with other collie ifllMbs lit lhas Ibesn tde- \ eided by the commMteie itifeat ,-ailjl ituqjahiies ; shaHil ibe competed (fior ; as m jpaat we.a.i!s, l except that for rth,e <Awi«4tiani» <ctf rtfe vwar , and one year : aMtfir cDhey Phalli itwt (be \ won outright, ; a winning <jft tooiPhy ( d.WIWg itbe J period (o<aM«t ttowftnds (the l Ml(liim.ailte )Bossessifin ( «f ttbe teoißhy.. The Slew 2;«aHani!i (flixa^piisß^p trials. wMtowJh wwi* Iheftd ftaat -wear ; at Ulaii Kwm. wM Ibe ibQld ijlpiis -j'tear «n - Ma-y 181 -i?, i»iftd -89. lip ttfae WiS*«te. ' •fflhe ."Spiwdb Sslaw \will Ibe IheW fS»t MQSSbwn ((©eatfliin :§o,iirtb- I