These bales of wool are sitting in a wool store in March 1967 because the price had fallen so sharply over the two previous years that the Wool Board chose to stockpile the wool rather than sell it overseas for low returns. This fall in the wool price helped trigger the balance of payments crisis in 1965/66.
Using this item
Alexander Turnbull Library, Dominion Post Collection (PAColl-7327)
Reference:
EP-Trade and Commerce-Wool and Wool prices-01
Permission of the Alexander Turnbull Library, National Library of New Zealand, Te Puna Mātauranga o Aotearoa, must be obtained before any re-use of this image.
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