U.K. Wool Fetches Highest Price

Press, Volume C, Issue 29505, 5 May 1961, Page 16

U.K. Wool Fetches Highest Price

(Special Correspondent NXPA.)

LONDON, May 2. British wool, which at one time fetched a food deal less than Dominion woola on the world market, now makes the highest average price in the world. It is averaging 4d per lb more than Australian wool and the differential has been as much as 6d in recent months. This statement was made by the British Wool Marketing Board in an announcement issued with their wool prices schedule for 1961. Up to last season, says the board, British wool had been making the highest average price for its type, but Australian wool, mostly Merino used in the manufacture of fine yarns, commanded the highest average price of all Now, with the fashion

trend away from fine fabrics, the market has swung right round in favour of medium and coarser wooli which form the bulk of the British production. 48 4d per lb These changes are refleeted in the board’s price achedule for 1961. In all but a few cases, down and fine wool prices have been reduced, whereas Massam croas, Leicester and lustre wools have mostly gone up. The over-all guarantee for the 1961 clip has been fixed bv the Government at 53>4d per lb. the same as last year. From this figure has to be deducted 4»id per lb to cover estimated marketing expenses, leaving a net average guaranteed price to producers of 4814 d per lb.