Halfbred Wool Values Slightly Easier

Press, Volume CII, Issue 30058, 16 February 1963, Page 8

Halfbred Wool Values Slightly Easier

The halfbred and Corriedale wool market lost a little of its lustre during the second and final day of the fourth Christchurch wool sale yesterday. The sale was, however, still a very good one from growers* point of view. The rates for these wools, though Id to 2d lower than on Wednesday, were still 5d or so higher than at the last sale in this centre in early December, and better than the same sale a year ago by about the same margin.

Crossbred wools, which were sharply slacker on Wellington rates on Wednesday, also tended to decline further, except for the stronger qualities which about held their own.

A pleasing feature of the •ale was, however, the sustained inquiry for all classes and there was an almost complete clearance ait auction with Continental and Bradford interests providing the main competition, and Japan and local mills also operating. Early in the day passings over the offering of 1000 bales amounted to only 2| per cent, and there was a similar proportion of passings over another 1200 bales offered in the early afternoon. The sale opened on a relatively good note, but it was noticeable that values for halfbred and Corriedale wools tended to ease back as it went along. On Wednesday the Wool Commission was absolutely silent, but yesterday it* representatives did raise their voices. Once they lodged their floor price bid on some Menno bellies that were not attracting much interest Average Price A preliminary estimate given after the sale for one of the catalogues offered yesterday put the average price at about 47d per lb or fractionally better, but the average might not come up to that level, for calculations on 12,500 bales sold on Wednesday show that they averaged 46.78 d per lb or £65 13s lOd a bale. At this level values were 2d to 3d per lb higher than the average tor the last Christchurch sale in December.

Though slightly slackerup to 2i per cent for finer qualities and 2| per cent cheaper for medium qualities —halflbred and Corriedale wools were still selling relatively well. On Wednesday they looked to be 6d to 7d per lb dearer than last December and also at the February sale last year, so that even allowing for yesterday’s easing they would still be 5d or so dearer than the two sales mentioned.

A great deal of this class of wool brought from 52d to 58d, but there were fewer sales at the 60d mark or better and more in the low 50’* and under the 50d mark than earlier in the week. Corrtedades sold to 64fd and haMbreds up to 63|d, whereas on Wednesday top price of the sale was 68d for halfbred wool.

This time Merino wool had the distinction of topping the market at asjd, which was paid to the estate James Steveneson ,of Flaxton. Four lots of Merino totalling 18 bales from the estate which sold in succession realised 60d or better. This was a good deal better than Wednesday’s top price of 58jd. Though values tor the main run of Merino wool did not alter markedly on earlier in the week, the sale did seem a little brighter with a better inquiry and not the number of passings there was on Wednesday. Merino was quoted as being fully firm with the majority of sales in the 51 Jd to 57Jd range. Crossbred* Easier On Wednesday crossbred wools were from 2j to 5 per cent, cheaper that in Wellington ait the end of last month and yesterday finer and medium sorts were again cheaper by up to Id per lb. They were officially described as being in buyers’ favour. Coarser qualities, however, held about firm. In this section the bulk of sales fell between about 44d and 49d. with top lots bringing from 50d to 58jd. Lambs wool made from •bout 34d to 45d tor the fine wools and from 34d to 47d for the coarser qualities, and second-shear wools were traded ait about 42d to 47d for better crossbreds and up to about 50d tor some finer wools.

Merino necks realised from 47d to 52d, halfbred necks from 43d to 55d and threequarterbreds 41d to 51d; Merino pieces 38d to 49d. halfbred pieces 42d to 50d and three-quarterbred 35s to 45d. and halfbred bellies 34d to 43d and three-quarterbreds 30d to 38d.

The offering comprised 28513 bales in two catalogues. One of these—that of Dalgety and New Zealand Loan, Ltd. —is believed to be the largest ever offered at an auction in the province. It totalled 18.634 bales in 1487 tote and it took from Just before 11 a m until about 5 pm. to dispose of k with breaks tor lunch and afternoon tea. Its disposal was shared-by two auctioneers. Messrs M. J. Harkness and B Hine.

As on the first day wools were drawn from Mid and North Canterbury, Marlborough. Neteon and the West Coast They were described ae being of mainly average to good standard. with some discolouration showine in later shorn clips and also more rotted wool included than usual. Leading Price* Merino wool* sold to Mid. which was paid to the estate Jam*. Stevenson (Flaxton) for three bales Three other lots from this vendor, of five *ix, and four bales made 83d. MHd and 62d respectively. A binned lot of two bales offered by Dalgety and New Zealand Loan. Ltd., made the second highest price in this section of 64Jd, and four bales from D. H. Rutherford (Leslie Hills) made "ft. beet price for Corriedale wool went to M. J. Ensor (Okuku) when he sold three bales for 64M and he received 83)d for a further four bales. J~ A. Black received 81 Jd tor five bale* and another good

price wa* 60}d paid to J. W. Ensor (Okuku) for six bales. The best prices in the halfbred sale yesterday did not approach Wednesday’s top price of 68d. S. H. Curd (Ashburton) received 63jd for four bale* to top the section. A binned lot of four bales offered by the New Zealand Farmers’ Cooperative Association made 83d. and a further five bales from thl* catalogue made 62id.

S. H. Curd sold three other lots of halfbred wool at high prices. Two lots of six bales and four bales made Slid and a further lot of four bale* made 61d.

Top price in the three-quar-terbred offering was 56|d paid to Dalgety and New Zealand Loan, Ltd. for a binned lot of tour bales.' This was the same price as the top figure in Wednesday's sale. Another 14 bales offered by Dalgety and New Zealand Loan, Ltd., made 54d, and eight bales ottered by C. Cunningham (Amberley), and 26 bales from a binned lot of Dalgety and New Zealand Loan, Ltd., made 52jd. Light bales from D. M. Macready (Diamond Harbour) and a further seven bales from Dalgety and New Zealand Loan, Ltd. reached 52d. Riverview Farm, Ltd., sold five bale* tor Slid. In the crossbred section the best price was 56d paid to D. I. Fechney (Westerfield) for five bales. Four bale* in a binned lot offered by the New Zealand Farmers’ Co-operative Association made Sold, and 55d was paid to J. S. Wolff (Horrelville) for six bales and to Dalgety and New Zealand Loan, Ltd. for four bales. A further binned lot from this company comprising seven bale* of hogget wool made 54Jd, and 54id was paid to A. J. Bell (Ashburton) for six bales. Twelve bales in a binned lot offered by Dalgety and New Zealand Loan.. Ltd., were knocked down at 54d. and this company sold two lots of six and seven bales for 53jd. The New Zealand Farmers Cooperative Association also re-

ceived 3fl4d foe lota of 10 tales and six balsa. There were only a few lota offered in the Southdown section, and the top price of Md was taken by Dalgety and New Zealand Loan. Ltd., with eight bale* of Southdown crce* wool. The New Zealand Farmers' Cooperative. Association also sold a binned lot of six bale* for in the afternoon a small offering of Cheviot cross wool came before the buyers. Three bale* offered by Dalgety and New Zealand Loan. Ltd., made Mki, and a further four bales made Slid. Top price in the second-shear wool market was 50|d Paid for a binned lot of six tale* of halfbred wool offered by Dalgety and New Zealand .loan, Ltd. Four bale* of halfbred woof offered by M. SpeiKerBower (Swannanoa) made 513 d. For crossbred wool in the second-shear market top price was taken by Sullivan Brothers (West Coast) with 4716 for 11 bales. Another West Coast vendor, estate J. Sullivan, made 46d with five bale*, and this figure was also reached by five bale* from estate A. Mcßride (Whataroa) and five tales from S. F. Nolan. A. F. Denton (Christchurch) sold 10 bale* of crossbred second-shear for 45Jd. The best sale of lambs’ wool was made by J. McCracken (Ranglora) when he sold 10 tales of crossbred wool for 4TJd. E. M. Costello (Omlhi) sold six bales for «d, and the New Zealand Farmers' Co-operative Association sold a binned lot of six bale* of crossbred wool for 46Jd. Fifteen bales offered by the same company made 461 d, and this price was also paid to Dalgety and New Zealand Loan. Ltd., tor seven bales- J ....... Two vendor* made 45jd for crossbred wool. They were W. A. Foster, with six bales and Dalgety and New Zealandl Loan, Ltd., with eight bale* of binned wool. Six bales of Romney wool offered by B. Wright sold for 46d, and five bale* from Transport (Nelson), Ltd. (Redwood Valley), realised 4«d. Details of catalogue* offered yesterday were:— New Zealand Farmers’ Co-operative Association -• #.*>6 Dalgety and New Ze«Loan. Ltd. .. 18,654 Total .. .. 28,513