PRICE OF WOOL

Evening Post, Volume CIX, Issue 43, 20 February 1930, Page 12

PRICE OF WOOL

DAY OP FANCY PEICES

DRAPERY TRADE VIEW

' The lower current prices for wool and the present hold-up of the sales iv certain ifoi'th Island centres obviously have a strong bearing on the retail trade of tho Dominion, and especially on the softgoods trade. "The New Zealand Draper, official organ of the New Zealand Drapers and Clothiers' Federation, has been looking closely into this matter, and it admits that "the Dominion stands to lose a tidy sum over the disappointing wool prices," but the position is hot so serious_ as it seems to those who take a pessimistic view. The "Draper" quotes authorities to show that "the wool''industry is approaching a healthier and sounder position.". The day/of .fancy prices lias passed, ac* cording to.some, never to return. i Manufacturers of woollen goods, who are the regulators of the market/have had; to face increasingly serious competition of artificial fibres, -which came into demand when wool was at its highest. -This competition could be met only.by reducing the pi-ice of the natural fabric to a figure that would enable the manufacturers to produce and market their goods ( on a profitable basis to themselves and'the trade generally. ' Wages disputes and Continental competition are- other factors that have caused British manufacturers,' who Imyc always been'the principal buyers of New Zealand, wool, to reconsider the. whole question of 'prices. Then, again, the lower level of values growers are now experiencing is due in part to last year's over-production throughout the world. It has been said that Bradford and the Continent lost many, thousands of pounds in recent years through paying, too much for supplies, and, naturally, those concerned are determined, to recover some of their, losses. Education of the public in regard to the advantages of wearing wool is badly needed. A lot has been said on this score, and a propaganda campaign was promised some time ago. So far nothing appears to have eventuated, : but no doubt the present prices will shake the -wool trade out of its lethargy and.cause it to-/get busy on the long overdue publicity. ■ .