SYDNEY WOOL PRICES REACH NEW HIGH LEVELS
(11 aim.)
SYDNEY, Jan. 16.
Wool prices rose 10 to 15 per cent, to record high levels at the Sydney wool sales. According to one expert, there was a hectic rush by buyers to secure wool, almost regardless of umits.
The expert said that the world textile Industry was using wool faster than it could be produced and the wartime carryover of 9,000,000 bales was almost exhausted. In the first five months of the current season, wool worth £97,000,000 has been sold in Australia, which was £29,000,000 worth more than in the corresponding period of last season when the wool cheque reached the record figure of £195,000,000 for the whole period. The last sales for 1949, held just before Christmas, brought the market to the highest point for the season. The highest price yesterday was 114 d a lb. and more than 150 lots brought IOOd a lb. or more. Under animated competition, all but 38 bales of the 11,965 catalogued, were sold.
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Bibliographic details
Gisborne Herald, Volume LXXVII, Issue 23154, 17 January 1950, Page 6
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170SYDNEY WOOL PRICES REACH NEW HIGH LEVELS Gisborne Herald, Volume LXXVII, Issue 23154, 17 January 1950, Page 6
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