Are J.O. Values On Too Low A Level? Farmers Want To Know

Wanganui Chronicle, 16 April 1949, Page 6

Are J.O. Values On Too Low A Level? Farmers Want To Know

The Meat and Wool Section of the Wanganui Provincial Executive of Federated Farmers considers that the present system of wool valuation by the Joint Organisation should be investigated. The remit was introduced by Mr. T. E. McLean, who said the disparity between the valuations given by J.O. and the brokers was too great. Ho cited the case of a man whose wool was valued at 18d by a broker and lealised 18Ad at the sale. It would have valued at lUd by .JO., according to one of the organisation’s representatives. That a certain amount of slackness may have resulted from the fact that J.O. had not operated much lately was the opinion expressed by Mr. 11. 3. Donnelly. Because the growers paid a protection of five bales a hundred, he considered that they could insist that the standard prices set in London should be adhered to. The J.O. values were set on 1939 values, said the chairman (Mr. I. F. E. Carter). The organisation had done a good job, he said, but added that if farmers had to sell at J.O. prices, they would soon go broke. Mr. W. J. B. Tripe said that J.O. was set up to dispose of, or liquidate, existing stocks of wool without causing a slump in prices. Because of semi-inflationary prices, growers could not ask J O. to increase its prices to those levels.