NEW PEAK REACHED
Wool Prices In Sydney
NZP A—Copyright SYDNEY, May 12. Wool prices this week reached a new peak for the season, being 40 per cent, above the closing levels of last season. With a general rise of 15 per cent, in values at last Monday’s sales and a further 5 per cent, rise on Wednesday, the market has reached a record peak, about 5 per cent, higher than the level of last January. Experts say the great buoyancy of the market results from scarcity and from the fact that no sales will be held in Australia before the end of June and the end of August, when the new season’s sales will begin.
The market has indications of holding its strength. A London message says that the London wool sales were continued with an offering of 16,239 bales, of which 16,000 were sold. The fatalogue included 5936 bales from New Zealand and 8993 from Australia. There was keen competition from all sections, and in many instances prices exceeded 1920 peaks. Europe was the main buyer.
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Bibliographic details
Otago Daily Times, Issue 27388, 13 May 1950, Page 7
Word Count
177NEW PEAK REACHED Otago Daily Times, Issue 27388, 13 May 1950, Page 7
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