Big Lift In Values For Halfbred Wools

Press, Volume CII, Issue 30056, 14 February 1963, Page 18

Big Lift In Values For Halfbred Wools

Growers of halfbred and Corriedale wools had every reason to be satisfied wth the market for their clips on the first day of the fourth Christchurch wool sale yesterday. At this, the first fine wool sale of the new year in New Zealand, values for these wools lifted by as much as 6d to 7d per lb on rates ruling at this centre early in December, and the market was officially described as being 7| to 10 per cent, dearer. But Merino wools did not share in this buoyancy and were little dearer than in December.

Crossbred wools also did not have a very spectacular sale. They were a little better than December rates, but were back sharply on the good prices ruling at the. Wellington sale at the end of last month.

The halfbred and Corriedale wools held the spotlight. In keen competition, which at times was spirited, they frequently sold at 60d or better and the bulk of these wools sold in the 54d to 58d range, with few lots realising under the 50d mark. Compared with the last Christchurch sale in December and also the first day of the February sale last year there was a general appreciation of up to about 5d to 7d per lb ,and in some cases growers made as much as lOd to Is per lb more than they did last year. Top price of the day was 68d for -two bales of binned extra fine halfbred wool, the highest price paid in Christchurch for many a long day. In December halfbred and Corriedale wools made up to 6OJd and last February 62Jd was the best price on the opening day of the sale. Notable Session There was a particularly notable session of selling yesterday afternoon when 150 bales of halfbred wools were sold in rapid succession at prices better than 60d. First four bales realised 61id, then 31 bales 66Jd, 50 bales 65d, 50 bales 65 jd and se’-en bales 65d. After another lot had been disposed of under 60d another seven bales brought Old. About the same stage of the sale another 250 bales of binned halfbred wools were also sold in succession at the steady price of 57 Jd. This wool was described as strong halfbred 88. In comparison with the strength of this section of the sale Merino wools met a disappointing market. They sold mainly from 51d to 57d, and with values obviously below vendors’ expectations passings were fairly frequent. But even at these seemingly modest rates Merino wool was 4d to 5d a lb dearer than a year ago and was also a penny or two better than in early December for comparable wool. While passings were running at about 5J per cent, over the offering of about 1300 bales early in the day, as the sale progressed passings became relatively rare and there was a good clearance. The Wool Commission had a purely watching brief and was not heard to lodge its floor price bid all day. Continental interests were again principal buyers. Crossbred wools were also in the disappointing class. On the basis of recent North Island values something better looked likely. The main weight of this wool was still selling round the 45d to 50d' mark, with relatively few sales at better than 50d. However even at these rates, which were only slightly better than in December, values were 4d or 5d better than at the corresponding sale a year ago for the finer qualities. Fine wool necks enjoyed a strong sale and frequently brought more than 50d. Merino necks ranged from 45d to 54d and halfbred necks from 43d to 53d. Merino pieces realised from 37d to 48d, halfbred pieces from 40d to 49d, three-quarterbred pieces from 37d to 46d; and bellies from 38d to 41d for Merinos, 33d to 44d for halfbreds and 33d to 38d for three-quarterbreds. Average Price Preliminary estimates given last night put the average price at from 47 Jd to 48jd per lb, which would amount io an improvement of about 4d per lb or about 10 per cent, on December rates. At 48d per lb a 3301 b bale would return about £66, and a gain of 4d per lb over the last sale would involve an extra £5 10s a bale ot about £150,000 to growers over yesterday’s offering of 27,243 bales. The wool in the two catalogues offered yesterday and the remaining 28.467 bales which come up for sale tomorrow, is drawn from Mid and North Canterbury, Marlborough, Nelson and the West Coast. It is described as being of mainly average to good standard but a fair proportion is showing slight discolouration and there is also more cotted wool than normal. Leading Prices The top price of the day in all sections was 68d, which was paid for a binned lot of two bales of extra fine halfbred wool in the catalogue of Pyne, Gould, Guinness Ltd.. Other halfbred lines also sold to above 65d A binned lot of 31 bales offered by the National Mortgage and Agency Company of New Zealand, Ltd., was sold for 661 d, and a further binned lot from the same company, of 50 .bales, reached 65Jd. Next highest price was for 50 binned bales from National Mortgage and Agency Company of New Zealand. Ltd., and for six bales from L. A. Catherwood (Kirwee), both of which realised

65 Jd. Two lots in the halfbred sale reached 65Jd. This was paid to D. E. Rankin, of Pendarves, for eight bales, and to R. C. Chapman. of Ashburton, for eight bales. Seven bales in a binned lot offered by the National Mortgage and Agency Company of New Zealand, Ltd., reached 65d- R. G. Mowat (Ashburton) also sold 11 bales at «d. Many sellers were close to the highest price tn the Corriedale section of the sale. The estate R- L Jameson (Rotherham) topped the entry with U bales at 65’d and 643 d was paid to K. R. Shipley (Darfield) for 11 bales. Inch Brothers (Hawarden) sold five bales for 64d and D. and M. Robinson (Springfield) sold four bales for 63fd. The next highest price was 63Jd paid to P P. L. Dillon (Marlborough) with an entry of » single bale, • Two sellers received 63d. They were D. S.

Studholme (Coldstream) and K. R. and B. R. Grice (Seaview). Lochee Farm (Rangiora) sold 13 bales of their entry for 62jd. . There was a small entry in the Merino section of the sale and several sellers received around 58d. The top price of the section was 58Jd, received by Westenra Brothers (Awatere Valley) with six bales, and a binned lot offered by Pyne, Gould, Guinness Ltd., also received 58jd. For six bales the estate W. B. Stevenson (Awatere) received 58d, and this figure was also reached by three bales offered as a binned lot by the National Mortgage and Agency Company. In the three-quarterbred offering several vendors received more than 54d. Highest price in the section was 54Jd, which was paid to A. G. Scott (Rangiora) for six bales. B. F. Morrow received 55Jd for nine bales, and 10 bales offered by A. R. Williamson (Ashburton) reached the same figure. A binned lot of 32 bales offered by the National Mortgage and Agency Company made 55d, and 54Jd was paid to Pyne, Gould, Guinness Ltd. for a binned lot of two bales. Selma Estate (Ashburton), with nine bales, and a binned lot of four bales offered by Pyne, Gould. Guinness Ltdreached the next highest price of 54jd, as did six bales from W. J. Bowers, of Seddon. D. M. Foster (Greendale) also had six D3IPS at Easily the highest price in the entry’ of crossbred wools was the 57d paid to B. F. Morrow (Montalto) for 11 bales. A binned lot of three bales offered by the National Mortgage and Agency Company of New Zealand, Ltd., made 54Jd, and 54jd was paid to Jackson Brothers (Purau) for five bales and to J. H. Slane (Havelock) for six bales. Three sellers received 53fd. They were S. G. Buxton (Annat) with five bales. E. H. M. Richards (Hororata) with six bales, and a binned lot of 24 bales offered by the National Mortgage and Agency Company. Three sellers received the next highest price of 53Jd—estate J. K. Macfarlane (Parnassus) with five bales, eight bales from Copland Brothers (Dromore), and 27 bales from Mendip Hills Station (Parnassus). Second-shear wools sold to 483 d. which was paid to D. D. and J. V. Byrne, Ltd. (Canvastown), for 10 bales of crossbred wool, and to Malcolm Mcßride (Whataroa) for five bales of crossbred wool. A binned lot offered by Pyne, Gould, Guinness Ltd., reached 48d for eight bales. Several sellers received more than 45d. D. J. Mcßride (Whataroa) offered 11 bales, which went under the hammer

for 47id, and R. K. BiUemon and Son, of Kowhitirangi, sold nine bales for 47jd. J. J. NUson. of Whataroa, with seven bales, and a binned lot of eight bales offered by the National Mortgage and Agency Company of New Zealand. Ltd., sold for 47d. Top price of the day for lambs’ wool was the 48d paid to A. J. Scott, of Coalgate, for 15 bales of crossbred wool. Messrs Martin and Blatch (Oxford) were paid 47Jd for 10 bales, .and D. D. McKay, of Hanmer, stoid eight bales for 47Jd. A binned lot of 11 bales offered by the National Mortgage and Agency Company of New Zealand. Ltd., received 47d, as did six bales offered by Knights Estate, of Lavericks Bay The offering, in order of sale, was as follows:

Bales Pyne, Gould, Guinness . Ltd. .. 14,719 National Mortgage and Agency Co., Ltd. .. 12.514 Total .. 27.243