WOOL TRADE DEPRESSION
REFLECTED AT THE SYDNEY SHEEP SALES PRICES FALL HEAVILY SYDNEY, Monday. The depression in the wool trade ■vii reflected today at the opening nlei of stud sheep. Prospective buy«i expressed the view that reduced prices would have to be accepted, in ’lew of the prevailing drought and the lower prices for wool. A prominent pastoralist, Mr. F. D. McMaater, said: "It is costing us isariy as much to produce wool as we Set for it The cost of production is Is ilb. Our returns average 12d to 14d. Therefore breeders cannot continue Jlwtnjr high prices for rams.”
ft Is estimated that prices were lowa by 30 per cent. The lots offered today comprised Merinos from some •otsble studs in New South Wales. The highest price paid was 2,900 Soilless for a Merino ram from the ’Taaganella stud, the buyer being Mr. T. Merriman, of Yass. A number d special rams from Mr. Falkiner’s hwaoke stud made from 400 to 550 nlaees.
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Sun (Auckland), Volume III, Issue 704, 2 July 1929, Page 9
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164WOOL TRADE DEPRESSION Sun (Auckland), Volume III, Issue 704, 2 July 1929, Page 9
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