SYDNEY SHEEP SALES.
PRICES DOWN TO 30 PER CENT. WOOL TRADE DEPRESED. (Australian Press Association.) SYDNEY, July 1. The depression in the wool trade was reflected to-day at the opening sales of stud sheep. Prospective buyers expressed the view that reduced prices would have to be accepted, In view of the prevailing drought and the lower prices for wool. A prominent pasloralist, Mr. F. D. McMaster, said: "It is costing us nearly as much to produce wool as we get for It. The cost of production Is Is per. lb. Our returns average 12d to 14d. Therefore breeders cannot continue giving high prices for rams.” It Is estimated that prices were down by 30 per cent. The lots offered to-day comprised Merinos from some notable studs in New South Wales. The highest price paid was 2900 guineas for a Merino ram from the Wanganella stud, -the buyer being Mr. W. T. Merriman, of Yass. A number of special rams from Mr. Falkiner’s Boonoke stud made from 400 to 500 guineas.
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Waikato Times, Volume 105, Issue 17752, 2 July 1929, Page 7
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170SYDNEY SHEEP SALES. Waikato Times, Volume 105, Issue 17752, 2 July 1929, Page 7
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