Extra $36.5m from wool

Press, Volume CXIII, Issue 33254, 18 June 1973, Page 1

Extra $36.5m from wool

The gross proceeds at the two Canterbury centres for the season were $65,052,149, compared with $28,567,504 in the previous season. This was an increase of $36,484,645, although about 1.5 m kilograms less wool was sold last season.

I The average price for the season in Christchurch was 157.1868 c a kilogram, 91|c or 139 per cent higher than in 1971-72. In Timaru, the average was 153.2 c, an advance of iB6|c or 130 per cent.

The rise in wool prices in the last season added an extra $36.5m to the gross value of wool sold through auction sales in Christchurch and Timaru.

I The high Christchurch average was, however, still about 16} per cent or about 31c a kilogram behind the average for the 1950-51 boom season, when the average was the equivalent of about 188c.'

In Christchurch. 188,833 bales, comprising 28.545.672 kilograms of wool, sold for a gross total of $44,870,042. The average price per bale was $237.62.

Gross proceeds through the Christchurch centre were up by $25,377,444 on the previous season, although the weight of wool sold was down by more than Im kilograms. In Timaru. 88,510 bales, comprising 13,173,890 kilograms of wool, sold for $20,182,107. The bale average here was $228.2. The Timaru cheque was up by $11,107,201 on the previous season, although here also there was a decline in the amount of wool sold by 440,000 kilograms.