Wool returns down

Press, 27 May 1981, Page 3

Wool returns down

PA Wellington Woolgrowers’ returns are still well.down on last year’s levels in spite of the recent sudden lift in wool prices at auction. The Wool Board’s market barometer, the adjusted weighted average sale price, last week rose to its highest point in the season so’far. at : 258.6 c a kilogram, after the Christchurch wool sale. Prices eased slightly 'tile next 'day at the Auckland sale, but the barometer reading was still a healthy increase oveiy The figure of about 25(Je.a?Iortnight before. The price, had been hover..ing about 247 c for. much of the season, and the upward trend which began? this month was a welcome one for the industry. However, the high point last week was still only about 4.6 per cent higher than the price at the same time last year. Inflation at a higher percentage indicates that woolgrowers’ returns are down in real terms. ■ ■ The average sale price for the season is slightly less than 247 c a kilogram, more than 20c less than last year's figure of 267 c. With inflation, "the drop in income is even greater. • I*