Market for wool ‘more healthy’
PA Auckland The wool market is much more healthy today than at any time in the last three years, says the managing director of the Wool Board, Mr H. L. M. Peirse. He said yesterday he believed there was no reason why wool should not continue to be sold in the next 12 months in the volume of the present season. “There is good reason to believe that the rate of economic activity will quicken over the next 12 months,” Mr Peirse said.
By June 30, when the season ends, New Zealand would have sold its entire
1982-83 wool production and more than 122,000 bales from the Wool Board stockpile. In quitting 4545 bales of its stockpile at the Auckland sale yesterday, the board reduced its holding to under 300,000 bales compared with a peak of 422,000, Mr Peirse said.
“Selling the season’s production is an encouraging achievement in itself, in view of the sharp increase in wool production in recent years,” he said. New Zealand farmers now sent almost 400,000 bales more wool for sale each year than six years ago.
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Press, 24 June 1983, Page 3
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187Market for wool ‘more healthy’ Press, 24 June 1983, Page 3
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