Rocketing Prices Worst Enemy Of Wool In U.S.

Press, Volume CII, Issue 30291, 18 November 1963, Page 15

Rocketing Prices Worst Enemy Of Wool In U.S.

(N.Z. Press Association—Copyright)

NEW YORK. November 17 A call for “flocks and flocks of wool" and Increased wool output in the United States went out during the week against a background of higher prices and the fear in some quarters that wool could price itself out of some markets, United Press International reported. At least one dealer suggested in Philadelphia that wool was nearing the point where it could price itself out of the carpet market The enemy of woo) in the United States was wool prices, not synthetics, he said. The Boston Wool Trade Association's annual meeting heard its president. Mr Riehard Goodrich, say that surpluses accumulated in

many countries masked the fact that over the last several years consumption had outstripped demand. These surpluses had since been whittled down considerably. he said, resulting in keen competition for wool supplies. He also suggested that rising wool prices invited stiffer competition from synthetics than would have been encountered otherwise. Rocketing wool prices have already been reflected in advances of up to 40 cents and 50 cents a yard on some woollen piece goods This is the situation confronting clothing manufacturers currently buying for their 1964 autumn lines. Some haggling over whether commitments will be fulfil!** 4 at old or new prices has already developed and more i* expected.