50 years ago

VICTORIAN Farmers’ Union president, Mr. Jim Heffernan, believes wool prices will rise despite the world’s financial crisis. Mr. Heffernan said yesterday there were early signs the Australian Wool Corporation’s strong stand in setting a firm floor price at markets was working. Wool prices which had been heading down for months had firmed and increased, and buyers were returning to the market with confidence. Mr. Heffernan said the VFU was proud of the role it played in having the Australian Government approve the corporation’s decision for a firm floor price. The Government gave this approval when it pledged its support to the corporation’s commercial judgments.