PAYMENTS ON WOOL

Press, Volume CVIII, Issue 31585, 24 January 1968, Page 7

PAYMENTS ON WOOL

$134,000 At Dunedin (N.Z. Press Association) DUNEDIN, January 23. Supplementary payments of $134,340.06 were made to Otago woolgrowers at the last Dunedin sale on January 10. The Wool Commission paid this amount for wool that did not meet the reserve price and wool that was subject to supplementary payments. The total net return for the sale was $2,404,206.41, but only $2,269,866.35 of this was made in the auction room—the balance was supplementary payments. Compared with a year ago the average price was down almost 4c per lb in spite of devaluation. Growers received an average price of 27.39 c per lb this month, compared with 31.26 c last January and 29.93 c in December. The average price paid in the auction room this month was only 25.85 c per lb, but this was boosted by supplementary payments which lifted the figure to 27.39 c. The average price a bale at the sale was $90.82. after suppementary payments, compared with $98.67 in December and $104.26 last January. Of the 26,513 bales offered 40 were passed to the commission and the rest went to buyers. They represented a total net weight of 8,779,2181 b of wool.