Word: wool
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Dates: during 1940-1949
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...fact there's more chance that prices will go up rather than down because the cost of Australian wool is 25 percent higher this year," Menton said...
While U.S. production dropped, the U.S. displaced Great Britain as the world's biggest wool user. Consumption went up from 600 million Ibs. a year to about 1 billion Ibs. Most of this was in the finer wools. Russia, never a big buyer before the war, had also entered the market in a big way and did not seem to give a hang about the price...
...make the supply picture worse, the U.S., which had raised 70% of its own wool needs before the war, was now raising only about a third. Sheep ranchers had killed their flocks to cash in on high meat prices until the U.S. sheep population was less than at any time in 82 years...
...this pointed to trouble ahead. Australian wool growers feared that high prices might eventually choke off their market. (In the U.S. high prices had already cut the sale of worsteds, and there seemed small hope of sizable price reductions as long as wool prices stayed up.) In San Antonio, F. Eugene Ackerman, executive director of the American Wool Council, warned U.S. textile men that synthetics might displace high-priced woolen fabrics...
...week's end, the council and the International Wool Secretariat, which represented sheepmen in the British Dominions, joined forces to do something about wool: they formed a new organization, the Wool Bureau, Inc., in Manhattan. By research, the bureau hopes to find some method of treating coarser wool to give it the same properties as the finer grades...