WOOL PRICE OUTLOOK

Te Awamutu Courier, Volume 79, Issue 7147, 19 December 1949, Page 7

WOOL PRICE OUTLOOK

AMERICAN VIEW Firm and even rising world prices for fine wools were predicted by Mr F. Eugene Ackerman, at the annual Growers’ Association at Denver on December Bth, states the New Zealand Wool Board. Mr Ackerman is chairman of the executive committee of the Wool Bureau, Inc., the promotional organisation for wool in the United States which represents the American and the British Dominion woolgrowers. Mr Ackerman said that there could be little or no reduction in the price for wool apparel fabrics during 1950 and no reduction in the prices of clothing except through depreciation of quality standards. Increasing world prices for wool were the result of continued expanding world demand and the inability of- the woolgrowing countries to increase their output of raw wool to meet this expansion. The United States must import 500,000,000 lb. of apparel wool in 1950 to balance the difference between its estimated production of 250,000,000 lb. and the expected consumption of 750,000,000 lb. “It is not necessary for wool to fight its way into a great and profitable market on the basis of cheapness”, said Mr Ackerman. “It is only necessary to hold its present markets and to expand them through integrity and superiority of product”. All that was necessary was to use available promotion techniques. Such a programme was at present being undertaken by the Bureau.