Concern about wool price

Press, Volume CXII, Issue 32838, 11 February 1972, Page 3

Concern about wool price

TIMARU, February 10. The violent price fluctuations for New Zealand wool in recent times would tend to force many manufacturers to use synthetics, which did not move in price to the same extent, said the president of the Textile and Woollen Mills Association (Mr B. A. R. Spence) in Timaru today.

“I am sure this view would be shared by woollen textile users throughout the world,” he said.

Mr Spence, who had been invited to comment on the substantial improvement in prices at the fourth wool sale of the Timaru season on Wednesday, said that while he had no wish to deny the farming community the fruits of the higher prices at auction, he did

regret that the fluctuation had been so violent, almost sale by sale, in recent months.

Quoting two examples, he said that in October the value of fine halfbred fleece “clean on the floor” had been 130 c a kilo. The average price for the Octo-ber-January period was 138 c, but Wednesday’s sale set a new figure of 155 c. For another halfbred line, the price ranged from 107 c in October to an average of 112 c for the October-Janu-ary period, then jumped to 140 c on Wednesday. By comparison with the second example, synthetics moved up only from 107 c to 1071 c and 108 c, respectively.

“Such a wide fluctuation places a real limitation on any sound planning,” he said.