MAJOR FALL IN WOOL UNLIKELY

Otago Daily Times, Issue 27526, 21 October 1950, Page 6

MAJOR FALL IN WOOL UNLIKELY

The \values ruling for wool during the past six weeks have convinced some millmen that the pressing necessity for the staple makes purchasing of it and higher prices for goods inevitable, says the Sydney woolbroking firm of Winchcombe, Carson, Ltd. The manufacturers' predicament now is the reception the public will give to advanced figures for products. Practically all are convinced that a major setback in wool values is most improbable. In Great Britain, prices for crossbred tops, which had moved consistently upward for some time, latterly have been easier. The British Board of Trade has issued permits for the importation of South American crossbred wools, and this has given greater opportunities to secure supplies. The effect of higher costs of wool on Government expenditure for defence purposes is viewed with concern by some authorities abroad. Authorities in the United States are experimenting with mixture fabrics partly for this reason and also because of the difficulty of securing adequate supplies of wool. Serge cloths in small lots, containing 70 per cent, wool and 30 per cent, synthetic fibre, have been ordered, but results can only be proved by active use in the field. Under the influence of the world’s civilian trade, the extra impetus of world rearmament orders, and the greater demand from the United States, inquiry for wool should certainly be strong enough to prevent any decided decline in values.