Alternative To Wool Auctions

Press, Volume CV, Issue 31016, 23 March 1966, Page 22

Alternative To Wool Auctions

(N.Z. Press Association—Copyright) SYDNEY, March 21. Private wool selling would grow so long as it provided a satisfactory alternative to the auction system for producers and users, according to a British mill executive.

Mr A. J. Thompson, managing director of Woolcombers, Ltd., of Bradford, said this when announcing the formation of an Australian branch of the company. “Private or country buying must be a satisfactory alternative to the auction for producers, otherwise they would not sell their wool in this manner,” he said. “The same applies to the buyer, he would not operate privately, unless he was satisfied with the results.” Until a better organised system of wool selling was introduced the wool manufacturer would consider buying direct from the producer. It was vital to establish a greater stability in wool price but this would not necessarily come through private buying, Mr Thompson said. Many wool manufacturing companies had already taken

steps to establish their own wool buying organisations in Australia, similar to the one set up by Woolcombers, Ltd.

Co-ordinate Buying

The company set up to operate in Australia for Woolcombers, Ltd., would “co-or-dinate buying and expand the activities of the group throughout Australia,” he said. “It is not our intention to buy intensively in the country areas, but we will operate both privately and at auction.”

Mr Thompson said he would not object to increased wool prices, provided wool was not “priced out of the viable fibre market.”

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