AUCKLAND HAS GOOD YEAR

Press, Volume XCIX, Issue 29233, 17 June 1960, Page 17

AUCKLAND HAS GOOD YEAR

Wool Cheque Best For Ten Years (New Zealand Press Association) AUCKLAND, June 16. A record clip and recovery in prices gave Auckland sheepfarmers their highest wool cheque for 10 years in the season just ended. Gross proceeds of wool sold at auction in the city during the 1959-60 season were £12,534.609 — an increase of £2,666,701, or 27.02 per cent, from those of the previous season and the highest figure since the 1950-51 year t “boom” cheque of £ 15.5 m.

The weight of wool sold increased by 436.2151 b, or 6.3 per cent, to a record of 69.415,5551 b. and the average price recovered to its best level for three years following a rise of 9.01 d, or 26.2 per cent., to 43.34 d per lb. The amount of wool offered increased from 203,450 bales to 207.911 bales and the quantity sold rose from 200,197 bales to 205,785 bales. The average weight of each bale was reduced from 344.551 b to 337.321 b, but the average price increased from £49 5s lOd to £6O 18s 3d. Statistics issued today by the secretary of the Auckland Woolbrokers’ Association (Mr A. C. Rains) show that the average price at the final sale on May 23 and 25, at 41.22 d, was the lowest for the season apart from the August “winter” sale average of 41.06 d. The highest average of 46.19 d was obtained at the January sale, in spite of a heavy offering of 17.3 m lb. The number of bales offered at the May sale was 52.232. of which 51.361. with a gross weight of 17,218.8021 b, were sold. The average weight a bale was 335.251 b.