Wool up and down
Wool prices moved in different directions at the Christchurch Wool Sale yesterday. The finer wools declined again. For some classes, the drop was as much as 5 to 7j per cent on the Timaru sale of two weeks ago. But there was better news for crossbred producers, the market showing a modest improvement on Auckland rates earlier
in the week. This reversed a trend which has been in progress for some time. However, compared with the rates ruling at the Christchurch sale last month, values for fleece wools were back by 10c to 25c pe T kilogram. The Wool Marketing Corporation, which had a busy day supporting the fine wool market, and had almost 4000 bales sold or passed to its bids.
announced last evening that the adjusted weighted average price for the sale was 211.6 c, justifying a retention lavy of 3.92 per cent. This compared with a levy of 3.52 per cent on the Auckland sale, but 7.17 per cent on the last Christchurch sale when the adjusted weighted average price was 227.66 c. (Sale report, Page 20)
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Press, 25 February 1977, Page 1
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184Wool up and down Press, 25 February 1977, Page 1
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