WOOL PRICES RISE AT DUNEDIN

Press, Volume CVII, Issue 31542, 2 December 1967, Page 42

WOOL PRICES RISE AT DUNEDIN

(New Zealand Press Association)

DUNEDIN, December 1.

Otago woolgrowers today benefited directly as a result of devaluation. Prices at the Dunedin wool sale—the first since the currency change—showed increases ranging from 15 to 30 per cent.

Apart from the effects of devaluation it was also clear that many types were being sold on an improved market.

While no official announcement has yet been made by toe Wool Commission on supplementary payments, it is estimated that payments will be made on less than 20 per cent

This would compare with more than 70 per cent at sales before devaluation.

The following is toe official report issued by toe Otago Woolbrokers’ Association, toe New Zealand Woolbuyers’ Association and toe New Zealand Wool Commission. “The offering for toe fourth Dunedin wool sale comprised 22,700 bales. The wools catalogued came from all parts of the Otago province. “The offering comprised more than 70 per cent of crossbred ewe and hogget fleece, toe balance being

Merino and halfbred fleece and oddments. “Prices for crossbred wools compared with recent North Island sales were fully 15 per cent dearer. Fine wools as compared with toe Christchurch sale on November 7 showed a substantial rise.

“Merinos were generally 20 per cent dearer; halfbred fleece 20 to 25 per cent dearer; halfbred skirtings 25 to 30 per cent dearer. “Competition was animated, toe principal bidding coming from Eastern Europe and toe Continent with limited support from other sections.

“The Wool Commission was not called upon to bid in toe sale room.”