FINE WOOL

Waikato Independent, Volume XLIV, Issue 108, 1 October 1947, Page 2

FINE WOOL

FUTURE PROSPECTS Lar.?e increases in the price of wool tops for home trade use on the United Kingdom were recently announced with the object of allowing Bradford buyers to compete against other interests. The price of woollen goods has been largely controlled in Britain by fixing a ceiling price for tops for manufacture into foods for home consumption. Last season's prices were claimed by the British wool trade to be too low to allow them to compete with other countries, except in respect of wool for manufacture for export. Certainly Bradford buying of the line wools offered in New Zealand during last season was most restricted. The Sydney sales, which opened recently, reflect id the increased tops prices in a rise of 25 to 30 per cent on the best fleece and pieces. The United Kingdom wool trade found these prices had absorbed all the rise provided in the increased tops prices, and complained that it was back where it started. Australian growers were anticipating a record wool cheque, which will be in excess of £IOO,000,000 if present prices are held. The effect in New Zealand to those growers producing 48s or above is likely to be satisfactory. This issue price of 64s warp tops is now 69d. Very little of the style of wool required for this count is produced in New Zealand; but the fact that the price has been raised from 48Sd since the end of April is significant. In the same time, the 56s super tops price has been raised from 41d to 46d, which should be an encouragement to many Canterbury, Marlborough, and Otago sheepfarmers. Rises of a half-penny have been made for 48s and 44s tops.