Auck. Wool Season Begins Firmly

Press, Volume CIV, Issue 30823, 7 August 1965, Page 24

Auck. Wool Season Begins Firmly

(Neut Zealand Press Association)

AUCKLAND, August 6.

The 1965-66 Auckland wool selling season began well for farmers today with prices for good second-shear wool at least 3d a pound higher than when the last season closed here in June.

Although the market appeared to be reasonably buoyant, the wool trade considers it far too early yet to predict what might happen when the main run of sales begins in October. One prominent buyer described the sale as a “squeeze” market and after the uncertainties of last season brokers are viewing future prospects with cautious optimism. Reason For Buoyancy The brighter tone was attributed largely to the fact that many buyers were bidding to fill previous commitments after failing to get what they wanted in June. At that sale a large proportion of the wool was taken by a few buyers with large orders to fill and many others were shut out of the market. Compared with the sale at Napier on Monday, the market was quoted as fully firm for second-shear wools which made up more than half the offering and in sellers’ favour for crutehings although prices for this class of wool tended to ease late in the day. The average price was estimated at about 421 d a pound or £6O for a 340-pound bale. This compares with an average of 39d in June and 47|d at the Auckland winter sale in August last year. Biggest Offering The offering of 18.795 bales was the biggest winter sale offering in Auckland since 1961 and was about twice as big as last year when shearing was delayed by bad weather. About 15 per cent of the wool was early shorn hogget wool and erutchings accounted for about 20 per cent. The second-shear wool was

described as average to good in style with better colour and length than similar wool sold in Auckland in May and June. The offering included some wool held over from last season and a proportion of this had deteriorated in appearance during the hold-over period. Most of the wool was taken by the United States for the carpet trade, but the market was supported by the Continent and by Japan, with Bradford showing interest in a small proportion of wool suited to its requirements. From the outset bidding was fairly brisk and there were few passings—an indication that farmers were prepared to meet the market. Good second-shear wools, well-picked and three to four inches in length, made 46d to 49d a pound with one or two higher yielding types bringing over 50d. Top price of the sale was 57d a pound for four bales of very attractive early Shorn hogget wool from Kerikeri. Similar wool from Matakana made 56d. PRICE RANGE The official range of prices Is: Early Shorn Hog-

gett, 50/56’s— Good-super 55 to 57 Good 52 to 54i Good average Average 48 454 to to 51! 47! Second-shear Hogget 50/56’s— Good 47J to 50 Good average 45 to 47 Average 42 to 44 Early Shorn Hoggets, 50/52’s — Good 514 to 54 Good average 47} to 50| Average 434 to 46 Second-shear Hoggets, 50/52’s— Good 46* to 49 Good average 43 to 45* Average 40 to 42* Early Shorn, 46/50 ’s— Good super to 30! Good 47 to 49 Good average 44 to 46! Average 42 to 43! Second-shear Long, Good-super to 50* Good 47 to 48* Good average 44* to 46* Average 414 to 44 Second-shear Short, 46/50’s— Good 45* to 47* Good average 43 to 44 Average 40* to 42* Second-shear Bellies and Pieces— Good average 3H to 34* Average 30 to 32 Inferior 28 to 29* Crutchlngs— Good 42 to 45! Good average 3$ to 41 Average 83i to 87 i Inferior 29i to 33 Second-crutch IngsGood average 31 to 33 Average 28 to 30 Inferior 20 to 25