FARMERS’ BENEFIT
EFFECT OF EXCHANGE ON WOOL
AN EXTRA £34,000 FOIL GROWERS.
CHRISTCHURCH, January 25
Woolgrowers of Canterbury who sold their clips at the second Christchurch sale' to-day will benefit by an extra £34,000 or so as a result of the increase in the exchange rate New Zealand on London.
Based on. an average price of 9d per lb. for today's sale, the total of 25,000 bales will l>i'i»g 111 about £309,375. This amount includes the increase in the exchange rate, which can be stated roughly as Id in Bd, or about £34,375. Had the exchange rate not been raised the average price to-day would have been slightly over 8d per lb. An average of 9d per lb. over the whole sale puts an average value of £l2 7s 6d on each bale, compared with about £ll per bale without the exchange benefit. The top price over the early stages was 14},d per lb., with the great bulk of the half-bred selling at round about 10d, and locks, bellies and crutchings down to 4d. The computation of values is made on a basis of 3301 b. 'to the bale.
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Hokitika Guardian, 26 January 1933, Page 5
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189FARMERS’ BENEFIT Hokitika Guardian, 26 January 1933, Page 5
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