RESERVE WOOL PRICES

Press, Volume LXXXIII, Issue 25272, 26 August 1947, Page 8

RESERVE WOOL PRICES

JOINT ORGANISATION’S ANNOUNCEMENT INCREASES FOR FINE WOOLS (P.A.) WELLINGTON, August 25. The general level of reserve wool prices for the 1947-48 season was announced today by the. Minister of Marketing (Mr E. L. Cullen). The Minister said the directors of United Kingdom-Dominion Wool Disposals, Ltd., had met in London to discuss reserve prices, and an announcement in the following terms was being released in Great Britain, Australia, South Africa, and New Zealand. “In accordance with the terms of the British Empire wool disposal plan, .directors of the Joint Organisation recently reviewed the results of the 1946-47 season’s auctions and future prospects and the respective Governments have now fixed for the 1947-48 season the general level of reserve prices for the Dominions’ wools. The new reserve prices will become operative on September 1, and in the absence of exceptional or unforeseen circumstances, the general level of reserve prices for the 1947-48 season will remain unchanged throughout the season. Apart from exceptional cases, Individual reserve prices will not be changed during the 1947-48 season.

“Thp changes now made in reserve prices reflect to some extent the increases in auction prices for merino and fine crossbred wools during the 1946-47 season, and also changes disclosed in the relative values of wools differing in quality, length, style, and degree of fault '•The general effect of these changes on the basis of the standard clip and Worked back from clean delivered prices on current costs from the Dominions, is as follows:

"New Zealand. —Greasy: no change in the overall average of the 1946-47 reserves with, however, adjustments in relative reserves as between merino, halfbred, fine crossbred, and medium crossbred. Slipe: no change in the overall average of 194647 reserves, but with suitable adjustments as, between wools of different types. * Australia.-*-An average overall increase on the 1946-47 reserve level of approximately 9 per cent, ex store greasy. "South Africa.—An average overall increase on ahe 1946-47 reserve level (excluding karakuls) of approximately 8 per cent, ex store greasy."