WORLD WOOL STOCKS SHOWING DECREASE

Grey River Argus, 8 October 1948, Page 5

WORLD WOOL STOCKS SHOWING DECREASE

(Rec. 9.50) LONDON, Oct. 7 The chairman of the International Wool Study Group, Mr R. F. Bretherton, has announced that the world stocks of apparel wool, by the end of June, 1949, would be about 2750 million pounds (greasy wool), as compared with 3551 million pounds at the end of June, 1948; and only twothirds of the world stocks in June, 1947; and that, of these stocks, seventy-five per cent., would be held commercially, as compraed with fiftyfive per cent., in June, 1947. He stated that the Government-owned wool stocks throughout the world at the end of June, 1949, would be more than 660 million pounds, representing twenty-two per cent., at the current rate of production. Mr Bretherton stated that the stocks held by the United Kingdom and Dominions’ Wool Disposals Limited had dropped from 1438 million pounds at the end of 1947 to 1029 million pounds at the end of June, 1948. . The grout) estimated that the world consumption in 1949 might fall slightly, due to certain lines having been partly filled; it also estimated that production of wool was likely, to rise, and that the purchases from the current stocks probably would continue at the present level.