Wool Market Slightly Irregular At Christchurch Sale

Press, Volume CIII, Issue 30528, 25 August 1964, Page 8

Wool Market Slightly Irregular At Christchurch Sale

There was a rather irregular trend about the market when the first Christchurch sale of the season was held at the Wool Exchange yesterday, but values did not change materially and were still at good levels. The main weight of halfbred and crossbred fleece sold about 4s 6d to 5s per lb and crutchings from 2s 6d to 4s per lb.

Compared-with the Timaru sale last Friday • halfbred fleece tended to be fractionally easier and crossbred fleece was barely steady. Halfbred crutchings met a sound sale all day and were;- inclined to be firmer while crossbred crutchings tended to be easier. As was the case at Timaru there was a steady stream of passings throughout the day and checks taken at three stages of the sale showed that 9 per cent, 8J and 12 per cent of the offering was not being quitted at auction. Both halfbred and crossbred fleece was passed in on occasions when buyers’ offers were in excess of 60d. Values were situ ahead of the floor pfice levels on which the Wool Commission operates and the commission was not heard during the day. In spite of the easier trend in the halfbfed market values were fully up to the rates paid a year ago in Christchurch when the market was starting its sharp upward movement and frequently vendors were being paid more than last year. According to one observer it was clips off hill country, where’ sheep have done better than on the lowlands in the past year, that were earning the premium. The clips off paddock country were often only holding to last year’s values. Higher Rates

Crossbred ■ fleece was still showing a useful premium on rates paid last August. It was selling about 2d to 3d per lb better than at the first sale last year.

There was-not a great deal of difference in the market for crutchings between yesterday’s sale and that of last August, and necks and pieces were also selling at similar levels, with belly wools possibly a little dearer yesterday. The indications are that the average price for the sale will be about 47d to 48d per lb and about a Id to Id dearer than last year. If the average for the sale is Jd per lb higher than last year, the extra return to growers on yesterday’s offering will amount to about £15,000. The average for this week’s sale may be depressed to some extent by a larger proportion of crutchings and less fleece wool than normal after an increase in second shearing last autumn. Compared with the last sale in Christchurch at the end of the last season in April halfbred wool was 3d to 4d per oound cheaper and crossbred was also inclined' to be a shade Cheaper, Halfbred Values The main weight of halfbred and Corriedale wool sold between about 56d. to 61d and at these levels was a shade behind values ruling at Timaru last week. For similar type wools offered in August last year values ranged between 56d and 62d, and at the closing sale in Christchurch last April from 60d to 66d. Both halfbred and Corriedale wools sold to 67d yesterday and topped the sale. There was little Merino in the offering and it met a weak sale with the top price being only a shade more than 60d.

Selling niainly at 54d to 59d average to good to good style crossbred was close to rates ruling in Christchurch last April and 2d or 3d ahead ot last August when local rates for wool of this description were between 52d and 57d.

A feature of the offering was the display of secondshear wools from the West Coast, which were well grown and light in condition and little, affected by colour. These met a sale in accord with their standard and crossbred second-shear wools sold freely between about 48d and 58d per pound. A small weight of lambs’ wool brought from 43d to 49d for finer qualities with fine three-quarterbred at 34d to 56d.

Halfbred crutchings brought from about 30d to 45d and crossbred crutchings from 34d to 53d compared with 30d to 44d and 37d and 47d a year ago. Neck wools continued to sell soundly at 45d to 58d

for halfbreds and from 46d to 56d for crossbreds. Fine wool pieces made from 45d to 55d and three-quarterbred from 45d to 51d, and half bred bellies from 36d to 50d and three-quarterbreds from 34d to 46d. In 1854 lots the offering was quitted in good time in six hours and a half of selling at 280 lots an hour. The Continent again provided the main buying strength. Bradford and Japan were not very active and America was interested in lines that suited its requirements. Local mills were also interested in-some of the better fine wool fleece. Variable

The total of 14,630 bales, which was about 4000 bales less than at the corresponding sale last year, comprised mainly new season’s pre-lamb shorn fleece and crutchings. The new fleece was of variable standard depending on how farmers had been able to feed their flocks during the recent protracted drought extending from late summer through into the winter. Where flocks had been hard hit by the drought wools were shorter in the staple, slightly finer and also carrying some dust and heavier in condition, though free of mud and bacterial discolouration. The crutchings had opened up reasonably well but some were also showing the marks of the season and there were more shorter crutchings this year, which was thought to be due to the greater amount of second shearing done last autumn. Top Price The top price of the sale was shared by halfbred and Corriedale wool, which both sold to 67d. The Corriedale was from H. J. Hamilton (Omihi), with four bales, and the halfbred from J. K. McAlpine (Spye), who sold eight bales of hogget wool at the top price. Other Corriedale wool sold to 66jd. This price was paid to A. T. Black (Culverden), for 13 bales and L. K. Sloss (Omihi), for 16 bales. Sales at 66 J d were made by the estate James Reid, Ltd. (Datfield) for five bales and J. D. V. Johnston (Ashburton), for 12 bales. J. J. Courage (Amberley), sold five bales of hogget wool at 66d and R. D Sloss (Omihi), realised 65fd for 16 bales. R. •G. Macdonald (Blythe Downs), realised 65Jd for six bales of hogget wool, and 651 d was the price paid for 20 bales from F. H. Shipley (Harewood). Sales at 65d were made by C. T. White (Cheviot), with six bales and G- A. Hutton (Bangor), for six bales.

Sales of halfbred wool included six bales of binned wool in the catalogue of Dalgety and New Zealand Loan, Ltd., and five bales of binned woo! in the catalogue of the New Zealand Farmers’ Co-operative Association at 66d. The latter firm also had binned wool at 65Jd. J. McK. Gardner (Scargill), sold seven bales at 65|d and Mrs V. Cooper and Son (Cheviot), realised 65d for six bales. Other good sales under growers’ brands included 11 bales from D. P. Graham (Tai Tapu), at 64id.

Of the few sales of Merino wool, the best price was 60|d for five bales from Ryan Brothers (Awatere). Binned wool in the catalogue of the New Zealand Farmers’ Cooperative Association also realised 60d.

Three-quarterbred wool sold to 62td for 16 bales from D. P. Graham, and C. E. Hunt (Hororata), realised 62Jd for 10 bales C. M. Fechney (Ashburton) headed the crossbred market with seven bales at 66d. Dalgety and New Zealand Loan sold nine bales of hogget wool out of their bins at (14)d, and J. D. Cocks (Ashburton) realised 641 d for five bales and 63Jd for seven bales of hogget wool. The National Mortgage and Agency Company, Ltd,, had nine bales of binned wool at 63jd, and the New Zealand Farmers’ Co-oper-ative Association three bales at 63}d. Second-shear Wool A. D. H. Scott (Coalgate) realised 58$d for seven bales of crossbred second-shear wool. Pyne, Gould, Guinness Ltd., sold four bales of binned wool at 581 d, and the National Mortgage and Agency had three bales at 58Jd. S. M. Wallace (Lake Haupiri) realised 58d for 10 bales, 571 d for three bales, 57d for 12 bales, and 551 d for 14 bales. L. J. Williams (Fox Glacier) was paid 57id for 11 bales, and this price was also paid for a single bale sold by the New Zealand Farmers. Other good sales made under growers’ brands included 14 bales from the Lands and Survey Department (South Westland) at 57d, and five bales at 56id, eight bales from J. Adamson (Hari Hari) at 56fd, nine bales from R. J. Whyte (Scargill) at 56id, and seven bales of Romney hogget from H. R. and D. A. Scott (Lagmhor), also at 56Jd. Crossbred crutchings made to 53d for two bales in the binned entry of Dalgety and New Zealand Loan. K. J. and H. W. Dalglish (Le Bons Bay) had two bales at 51d, and the National

Mortgage and Agency realised 50d for a single bale. Another good sale of four bales at 49id was made by J. D. Cocks (Ashburton).

The top price for halfbred crutchings was 451 d for three bales offered by the New Zealand Farmers’ Co-operative Association. Dalgety and New Zealand Loan, Ltd., also had seven bales at 44d. Among sales made under growers’ brands were four bales from the estate L. L. Richards (Mount Hutt), at 42d, three bales. from H. and

Official Report

The official report Issued by the Christchurch Woolbrokers’ Association in conjunction with the Wool Buyers’ Association and the New Zealand Wool Commission says:— “The first Christchurch wool sale for the 1964-65 season was held yesterday at the Wool Exchange Building, when a total offering of 14,570 bales was submitted by four selling brokers. Because of the dry autumn and winter the condi. tion of the offering was hardly up to the usual standard for this sale. Although there were quite a number of bright, attractive lots, especially among the halfbreds and Corriedales, quite a large percentage of the offering was showing a fair amount of dust, and the condition was rather heavier than usual for this sale. Fleece wool and crutchings made up the bulk of the offering, with a smaller quantity of woolly and shorn. hoggets, and secondshear lots. Practically no Merino was included, and only odd lots of lambs’ wool. The crutchings opened up fairly well and up to their normal standard.

"There was a full attendance of buyers, and the sale opened with good competition from Continental buyers with limited bidding from Bradford and Japan, and America interested in suitable lots. Local mills took some of the good style fine fleece. “As compared with the recent Timaru sale halfbreds were in buyers’ favour, with threequarterbreds and crossbreds showing little change. Fine crutchings were a little dearer, but coarser sorts sold in buyers’ favour. The bulk of the offering was sold at auction. The following is the official range of prices: Extra Fine Halfbred

M. Fitzsimmons (Greta), at 41id, three bales from E. S. Johnstone (Annat), at 40id and four bales from A. J. Meikle (Cheviot), at 40iq. Corriedale crutchings made to 45jd for four bales from D. W. and R. D. Ensor (Cheviot). E. Hiatt (Amberley), realised 41jd for five ’balei and 40d was the price paid to O. G. Evans (Hawarden), for eight bales. A. J. Sloss tOmihi), for four bales and J. P. Barton (Amberley), for three bales. J. E. W. Ensor (Cheviot), obtained 37id for a single bale of Merino crutchings. Details of catalogues in order of sale were: Bales Dalgety and New Zealand Loan, Ltd-, ■ 4322 New Zealand Farmers’ Cooperative Association of Canterbury, Ltd. .. 2236 Pyqe, Gould, Guinness . Ltd. .. 4146 National Mortgage and Agency Company of N.Z., Ltd.. . 3926 14.630’

and Corriedale 58, 58/80’s— Good to super ,, 64J to 67 Good 61 to 64 Average to good 584 to 604 Average 54 to 574 Fine Halfbred and Corriedale 56/ 58’s— Good to super .. 64 to 664 Good 62 to 63* Average to good 58 to 61 Average 54 to 57 Medium Halfbred and Corriedale, 56’s— Good to super .. 624 to 66 Good 60 to 62 Average to good 574 to 594 Average 53 to 57 Halfbred and Corriedale, 50/ 56’s— Good to super .. 60 J to 64 Good 58 to 60 Average to good 55 to 57* Average 51 to 54 Extra Fine Crossbred, 52/54’s— Good to super .. 614 to 64 Good 58 to 61 Average to good 54 to 574 Fine Crossbred, 50/ 52’s— Good to super .. 61 to 62* Good 58J to 604 Average to good 54 to 57 Average 52 to 534 Fine Crossbred, 50’sGood to super .. 60 to 62 Good 574 to 594 Average to good 54 to 57 . Average 51 to 534 Medium Crossbred, 48/50’s— Good to super .. 60 to 61| Good 574 to 59J Average to good 54| to 57 Average 50 to 54 Medium Crossbred, 46/50’s— Good to super .. 59 to 61 Good 56J to 58* Average .to good 53 to 56 Average 50 to 52 Strong • Crossbred, 46/48’s— Good ’ .. 56 to 58 Average to good 52 to 56* Average 50 to 514 Hogget Wools Extra Fine Halfbred and Corriedale, 58, 58/60’s— Good 604 to 64 Average to good 58 to 60 Fine Halfbred and Corriedale, 56/ ■ 58’s— Good to super .. 63 to 67 Good 60’ to 62* Average- to good 57 to 59* Medium Halfbred and Corriedale, 56’s— Good to super .. 62 i to 64 Good 59 to 62 Average to good 56 to 584 Three-quarerbred, 50/52’s— Good to super .. 61J to 63* Good. 58 to 61 Average to good 55 to 574 Shorn Hogget Fine Three-quarter-bred, 50, 50/ 52’s— Good to super .. 58 to 59* Good 54 to 574 Average 51 to 534

Second Shear Halfbred and 'Corriedale, 50/56’s — Good to super .. 56 to 61} Good 52 to 55} Average 46 to 51 Fine Three-quarter-bred, 50, 48/ 50’s— Good to super .. 56 to 60 Good 52 to 55} Average 47 to 51 Three-quarterbred, 46/50’s— Good to super .. 55 to 57 Good 51} to 541 Average 47 to 50} Necks Fine Halfbred, 56/ 58’s— Good to super .. 54 to 58} Average 50 to 53 Inferior 45 to 48} Halfbred, 50/56, 56’s— Good to super .. 54 to 58 Average 50 to 53 Three-quarterbred, 50, 46/50’s— Good to super .. 53 to 55} Average 48 to 52 Pieces Fine Halfbred, 56/ 58’s, 58’s— Good 51} to 54} Average 47} to 51 Halfbred, 50/56’s, 56’s— Good 50} to 53} Average 46} to 50 Three - quarterbred, 50’s, 46/50’s— Good 49 to 51 Average 45} to 48 Bellies Fine Halfbred, 56/ 58’s, 58’s— Good 46} to 51 Average 44 to 46 Inferior 36 to 40 Halfbred, 50/56’s— Good 46 to 48} Average 43 to 45} Three - quarterbred, 50’s, 46/50’s— Good 44} to 46} Average 41} to 44 Inferior 34 to 39 Crutchings Fine Halfbred, 56/. 58’s— Good to super .. 39 to 44 Average 35 to 38} Inferior 34 to 34 Halfbred, 50/56’s— Good to super .. 40 to 45} Average 36 to 39} Inferior .. 30 to 34 Three - quarterbred. 50’s, 46/50’s— Good to super .. 42 to 47} Average 38 to 41} Inferior 34 to 37 Crossbred, 44/48’s— Good to super .. 44 to 53 Average 40 to 43} Inferior 36 to 39 Lambs’ Wool Fine Halfbred, 56/ 58’s— Average 46 to 49 Inf. ■ to average 44 to 45} Halfbred, 50/56’s, 56’s— Average 45 to 47} Inf. to average 43 to 44} Fine Three-quarter-bred, 50’s — Good 52 to 56 Average 49 to 51} . Average to inf. .. 43 to 48 Inferior 34 to 42 Locks Halfbred 24 to 32} Three - quarterbred 28 to 31