HIGH AVERAGES FOR WOOL SOLD AT NAPIER SALE

Gisborne Herald, Volume LXXV, Issue 22817, 11 December 1948, Page 8

HIGH AVERAGES FOR WOOL SOLD AT NAPIER SALE

AN UNOFFICIAL estimate of the gross income for the new season's wool offered at the first wool sale of the season at Napier was £1,400,000, and it is expected that the pay-out to growers will exceed £1,250.000. The estimate was made on the basis of the average return for each of the 40.500 bales sold being £35, although it

is expected that the average will be slightly less than that figure. The gross return may prove to be a record, the highest previous income from a sale being £1,413,602 in January of this year, when 37,700 bales were sold at an average of £37 9s lid per bale. The average for the recent sale is expected to be £2 10s a bale less

than in January, but the offering was nearly 3000 bales more. Deductions from the gross income include selling costs and a 5 per cent contribution to the Joint Organisation, the latter figure being the same as last year, although in the 1940-47 season it was 71 per cent. Deductions were expected to total an average of £3. 10s a bale.