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Wool Cheque May
Be £330,000,000
MELBOURNE, Frl.-Australia's wool clip this
season should be worth about £330,000,000 if the
present price is maintained until the end of the
wool selling year next June.
This would be the second
highest wool cheque received
in Australia, and would beat
last season's by more than £20,
000,000.
At this week's prices, the aver-
age value of a bale is £100
between seven and eight times
its value in the last year before
World War II.
At the close of selling yester-
day, £950,000 bales had been
sold for a total return estim-
ated at about 84,000,000, leav-
ing 2,425,000 bales still to be
sold. "In no circumstances do
we want to see any big increase
in prices," one expert said today.
The present price is highly
profitable for growers.
"It is much better that it
should remain around the pre-
sent level than swing up and
then back."
So far, most of the clip has
been bought by Great Britain,
the Continent and Japan.
Only a relatively small amount
has gone to the United States,
and Australian mills have been
buying very cautiously.
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