The Wool Sale
Prices at the third Christchurch wool sale yesterday encouraged confidence in continued prosperity not only for the woolgrowers but for New Zealand, which depends upon its export earnings for its imports. Since April the wool market has steadily improved; yesterday there was another heartening increase in prices. The only disappointing feature of the sale was the poor return for Merino
wool, a vital factor in highcountry economics. The significant improvement of Corriedale and halfbred prices, together with the recent' increases in the meat schedule rates for lambs, augurs well for farming prospects. An increase of Id per lb in the average price of wool during the season represents a gain of £2.3 million in overseas funds. The connexion between the woolgrowers’ prosperity and the nation’s welfare is obvious.
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Bibliographic details
Press, Volume XCVIII, Issue 29070, 5 December 1959, Page 12
Word Count
131The Wool Sale Press, Volume XCVIII, Issue 29070, 5 December 1959, Page 12
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