Expert Gives Reasons For Keen Wool Demand And Reduced J.O. Stocks

Bay of Plenty Beacon, Volume 12, Issue 40, 23 April 1948, Page 6

Expert Gives Reasons For Keen Wool Demand And Reduced J.O. Stocks

Stocks of New Zealand wool were reduced between August, 1945 when the Joint Organisation began operations, and June, 1947 from 1,777,000 bales to 1,092,000 bales representing a reduction of 381- per cent and equalling the position estimated to be reached for New Zealand wool in 1950. These figures were given, says the New Zealand Wool Board, by Mr G. A. Duncan, chairman of the N.Z. Wool Disposal Commission, to the recent meeting in Wellington of the Electoral Committee of the meat and wool industry. Factors contributing to this favourable position are:— “i. Extremely rapid recovery of wool manufacturing activity in several Continental countries. “ii. Maintenance of high level of consumption in U.S.A. combined with a reduction of 30 per cent in the U.S. domestic clip since 1942. The result is that U.S. consumption of Dominion’s wool last year 1945-46 was more than 500,000,0001b —almost ten times per-war level. “iii. Decline in size of current clips in Australia, South Africa due to drought, etc. “iv. Abnormal shipping and internal transport conditions, resulting in need on part of trade to carry larger stocks to ensure availability.”