WOOL PRICES.
LAW or SUPPLY AND DEMAND. In the May issue of the American Sheep Breeder and Wool Grower the following statement by Mr. J. A. M. Elder, Australian Commissioner to the United States, appears: “It is impossible in the long run for the Australian grower or the grower in any other country to fix the price he is to get for Iris product. He must accept .the price which, the world is prepared to pay. As in all other commodities, the inevitable and insurmountable law of supply and demand prevails. I discovered that the increase in the price of wool in Australia during the last three years represented exactly one dollar per suit of clothes. I found that the cost of tailoring had increased in two years as much as 300 per cent. In looking at the question from a broad standpoint the position is that the world needs wool and will continue to need wool. The demand appears to be greater than the supply. There is no carry-over at all as it is grown it is being used. There is no large undefined stock of which the buyers need be afraid.’*
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Bibliographic details
Manawatu Times, Volume XLIX, Issue 2716, 25 June 1925, Page 5
Word Count
193WOOL PRICES. Manawatu Times, Volume XLIX, Issue 2716, 25 June 1925, Page 5
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