WOOL SITUATION SOUND IS VIEW OF STUDY GROUP

Greymouth Evening Star, 9 October 1948, Page 6

WOOL SITUATION SOUND IS VIEW OF STUDY GROUP

LONDON, October 8.

The opinion of the International Wool Study Group was that basically the wool situation appeared to be sound, said Mr F. S. Arthur, general manager of United Kingdom-Domin-ion Wool Disposals, Ltd, commenting on discussions at the conference held by the group earlier this week. There was a tendency towards a reduction in the demand for highgrade wool and increased consumption of lower grades. Consumer resistance had been developing against the high price of fabrics made from fine wools and, with the background of the international position, there had been a general fall in values. Merinos had fallen 15 to 20 per cent, since the opening of the Australian season, but crossbred wools remained firm, and consequently the wide disparity between the two types had narrowed. This move was not regretted by the group, for it was felt that it was not in the long-term interests of wool that prices should be at a level which the ordinary consumer could not afford. A more reasonable level of fine wools was regarded as being welcome to those who had the interest of the industry at heart. Mi- Arthur will leave by air for South Africa on October 12, where he will see something of the Joint Organisation’s practical operations in the market, and meet members of the South African Wool Board to discuss ideas on marketing after the organisation had completed the liquidation of its stocks.