Wool price up 60 p.c.

Press, Volume CXV, Issue 34032, 22 December 1975, Page 16

Wool price up 60 p.c.

At the last Christchurch wool sale of the year on December 5, auction prices were almost 60 per cent higher than a year ago. The average price paid in the sale room was 155.1679 c per kilogram. In December last year, the average was more than 58c less at 97.1042 c. Compared with the previous Christchurch sale at the end of October, the price was up more than 10c per kilogram, or by 7 per cent. In addition to the sale room prices, the Wool Marketing Corporation added on to growers’ returns an average of slightly more than 4c per kilogram to bring all growers’ returns up to floorprice levels, and this had the effect of raising the over-all average price to 159.284 c. Compared with the October sale, the average price, including supplementary payments, was slightly more than 4|c or about 3 per cent higher. The supplementary payments at this month’s sale amounted to $164,467. A total of 26,425 bales, containing 3,995,645 kilograms of wool, were sold at auction for $6,199,959 and with supplementary payments, this was increased to $6,364,426.60. The average price per bale at auction was $234.63. With the supplementary payments it was $240.86. Details of transactions made at the sale have been provided by the secretary of the Christchurch Woolbrokers’ Association, Mr M. C. Tipping.