Wool Prices Reach November Levels

Press, Volume CIII, Issue 30368, 18 February 1964, Page 17

Wool Prices Reach November Levels

(New Zealand Press Association) AUCKLAND, February 17. Wool prices continued to rise on the first day of the third main sale of the Auckland season today. Values returned to the peak levels ruling in November, and in some cases even exceeded them.

Lambs wool was quoted as fully Id a pound dearer than at , Wellington . last week, with second-shear, too, showing a substantial increase and full-length fleece wool very firm. The market tended to be a little erratic during the earlier stages of the sale, but at no ime was it anything but strong even for the poorer wools. Farmers generally were well pleased with prices which exceeded, their expectations The average price was estimated at about 57d per pound or nearly £Bl for a 3401 b. bale. This represents an increase of Is a pound on values ruling in Auckland a year ago On this basis the first day of the sale should give growers a .gross return of about £l.9m.

Higher-priced hogget wool which boosted the average price at the November sale was much scarcer today, but an increased - offering of lambs wool sold exceptionally well. For all types of wool a premium . was paid for length, this being particularly noticeable in the case of fleece wool. The sale will continue on Wednesday and the offering for the two days totals 49.831 bales, bt which 24.487 bales were offered’ today. About a third of this was second-shear, a third fleece wool, and 20 per cent lambs wool .

Buyers described the quality of the wool as better than average for Auckland. As has been the case at most sales this season the main buying strength came from the Continent, with the United States competing strongly tor second-shear.

N.Z. Index

The Reserve Bank's index ol share prices in New Zealand (January 27 1959, equals 1000) is:—

The following Is the official range of prices. d d Southdown, 58/ 60's— Good average .. 60 to 64 Average .. 55 to 59 Inferior .. ..49 to 54 Extra Fine Crossbred, 50/56’s— Good .. 68 to 70 Good average .. 65 J to 671 Average .. 62 to 641 Fine Crossbred, 50’s— Good .. .. 66 to 68 Good average ... 63} to 651 Average . .. 59} to 62 Medium Crossbred, 48/50’s— Good .. .. 64} to «7 Good average .. 62 to 64 Average .. 58 to 61 Crossbred, 46/50’s— Good .. .. 63 to 66 Good average ... 60J to 62} Average .. 57 to 591 Coarse Crossbred, 46/48’s— Good .. .. 62 to 64 Good, average .. 59} to 611 Average .. 56 to 59 Early Shorn, 46/. 50’s— Good .. .. 62 to 631 Good average .. 60 to 611 Average .. 58 to 59} Second Shear Long, 3in-5in. 46/50’s— Good .. .. 62} to 64} Good . average .. 60 to 62 Average .. 57} to 59} Second Shear Short, lin-2}in, 46/50’s— Good ..61} to 63 Good average .. 581 to 60} Average ..55 to 58 Lambs Fine Down Cross. 56/58’s— Good to 66 Good average .. 60 to 62 Average .. 55 to 58 Crossbred, 50, 48/ 50*s Good .. .. 65 to 69 Good average .. 62 to 64 Average .. 57 to 60} Second. Crossbred— Good average .. 511 to 53} Average .. 47 to 51 Pieces Crossbred, 46/50's— Good average .. 51} to 53} Average ..46 to 50 Bellies Crossbred, 46/50’s— Good average .. 48 to 50 Average .. 45 to 47} Inferior .. 42 to 4}

1960 N Z. Aus September 22 • • — •1588 December 20 .. 1322 1251 1963 January 31 .. 1340 1275 February 28 .. 1357 1248 March 28 .. 1357 1255 April 24 .. 1383 1296 May 30 .. 1415 1363 June 27 .. 1461 1354 July, 25 .. 1467 1400 August 29 1473 1424 September 28 .. 1482 1447 October 31 .. P83 1451 November 28 .. 1510 1478 December 19 .. 1515 1501 1964 January 16 .. 1522 1561 January 23 .. *1533 1580 January 30 .. 1530 1580 February 6 .. 1516 1571 February 13 .. 1511 1584 •Peak.