Wool Prices At Dunedin Reach Record

Wanganui Chronicle, 19 December 1950, Page 6

Wool Prices At Dunedin Reach Record

DUNEDIN, Last Night (PA).—lncredible wool prices became a reality in the Burns Hall, Dunedin, today for the opening day of the first fleece sale of the season at this centre. The double auction of 45,450 bales of new greasy wool was 150 id, paid for four bales of fine quarterbred from the well-known estate of the late Mr James McArthur, of Clyde, sold by Dalgety and Company Ltd.

This created a fresh New Zealand record for quarterbred.

Measured in quantity, 22,334 bales were sold during the day. Measured in money more than £3,000,000 worth of wool changed hands. On th? whole prices were more than double those of last season. Wool experts in the city were of the opinion that the values today were the best ever obtained in the history of the Dominion.

Competition was tremendously keen. The sale opened at 8 a.m. and was completed for the first day at 3.15 p.m., although the usual luncheon recess was observed.

Crossbreds and stronger halfbreds sold particularly well in comparison with Merino, although the sale for this class was steady throughout. On an average the sale could be quoted as better than at other opening sales of Ihe season. Crossbreds were less spectacular, but prices were firm to one penny per pound better than elsewhere.