Elders Limited - 1940-1950

1940-1950

As the war dragged on, the wool auction system remained closed and the British government acquired the total Australian wool clip. In 1941 it paid today’s equivalent of more than $3 billion, nearly $4 billion the following year and so on. The return to the open auction system in 1946 saw the start of a dramatic five-year run for wool. National wool revenues increased an impressive 29% and 64% respectively in the first two full years of peace.

Wool revenues continued to increase throughout the decade. The Korean War made significant impact on demand for wool as United Nations soldiers fought in winter temperatures 30’C below zero.

Growers – and Elders – rejoiced at getting a pound for a pound of wool and by 1948 Elders controlled 10.1% of the national clip behind Dalgety and Goldsbrough Mort.