Wool prices slip
PA Wellington Wool prices were in the doldrums at yesterday’s sale in Wellington, the Wool Board's adjusted weighted average sale price slipping to its lowest point for the season, at 254.9 c a kilogram. The previous lowest was 255.7 c at Timaru on Monday. The Government payout to growers under its supplementary minimum price scheme also reached its highest percentage, 25.5 per cent. The total cost to the taxpayer of the Government supplement for the sale was about $2.1 million. The payout over the whole season to
date is believed to exceed $5O million. The Wool Board bid on 33 per cent of the Wellington offering of 15,454 bales, and bought 21 per cent. On the Auckland offering of 6500 bales, it bid on 82 per cent and bought 61 per cent. The board had to intervene especially in the shorter wools. The market, compared with the Timaru sale, was in buyers’ favour for all types, the official report said,, the main demand came from Eastern Europe and New Zealand mills.
The ottering showed the effects of poor weather in tenderness, pen stain and yellowing.
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Press, 11 December 1981, Page 3
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188Wool prices slip Press, 11 December 1981, Page 3
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