BRITAIN FIXES WOOL PRICE

Horowhenua Chronicle, 16 October 1939, Page 6

BRITAIN FIXES WOOL PRICE

DOMINION'S SLIGHTLY LOWER THAN AUSTRALIA

PURCHASE OF CLIPS POR DURATION OF WAR LONDON, Oct. 13. It is officially announced that agreement has been reached among the British, Australian and New Zealand Government's for Britain's purchase of wool clips for the duration of the war and one clip thereafter as far as is not required for domestic consumption. The agreed price is:— IOJd for Australian. 9.Sd for New Zealand. Each Dominion shares equally with Britain any profit made by resales outside the United Kingdom.. Other details are still being discussed. FARMERS SHOULD BE SATISFIED IF MUTTON AND LAMB WERE RIGHT WELLINGTON, Oct. 13. Provided the prices for lamb and mutton were satisfactory he thought farmers would be satisfied with the price of wool announced, said the president of the New Zealand Farmers' Union (Mr. W. W. Muiholland) in an interview by telephone from him home at Darfield (Canterbury) to-night. Ln sterling the price announced from London would represent another 25 per cent, in New Zealand currency, making it round about 12ja. This, as he understood it, would be the average price over the whole of the New Zealand clip, but the range would be according to quality.

Of course lamb and mutton were important constituents of the sheepfarmer's return and would have to be taken into consideration along with the price of wool. If the prices for these were satisfactory then farmers would probably be satisfied with that for wool.

It had to be kept in mind that no margin was apparently being allowed for possible rising costs and if these did increase the wool price might not be satisfactory. The actual price paid for each lot would be appraised on qualify and the condition of the wool so that it was as important as ever for farmers to give careful attention to skirting, classing and the general get-up of the clips. Any slackness in these respects would result in a depreciation of the price paid.