PRICE OF WOOL
ON UP GRADE
SATISFACTION IN AUSTRALIA
(Australian Press Association.)
(Received .this day at 9.30 a.m.)
SYDinEY, August 30,
The Acting president of the Graziers’ Association. (Mr Walker), stated that the rise in the wool market suggested that wool prices were now definitely on the up-grade. The Prime Minister, Mr-Lyons, expressed satisfaction with the rise “It is a ray of sunshine,” he said; , While producers express gratifioafon at the improvement, they point out that the price is still below the cost of production. The Commonwealth clip for the current year is expected to exceed that of 1931-32 by 225,000 bales. Last year’s average was £lO/18/5 per bale, so, on the basis of a 7J per cent, average increase on the year’s cheque, the net increase on Australian and London sales will be £5,063,048 in Australian currency.
This estimate does not take into account the possibility of a further improvement in prices, or a variation in exchange. ; .•
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Hokitika Guardian, 30 August 1932, Page 5
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158PRICE OF WOOL Hokitika Guardian, 30 August 1932, Page 5
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