Wool Values Easier At Timaru But Up On April Rates

Press, Volume CIV, Issue 30835, 21 August 1965, Page 18

Wool Values Easier At Timaru But Up On April Rates

(From Our Own Reporter)

TIMARU, August 20.

Although markets were generally quoted as being a shade easier on Dunedin rates when the first wool sale in Canterbury for the 1965-66 season was held in St. Patrick’s Hall today, values for most classes of fleece wool were appreciably in excess of rates ruling at the last sale in the province in April.

Crossbred wools predominated in the selection and the bulk of the early shorn fleece wool of this description was selling at close to 50d or better than 50d per lb.

Most of the average to good to good wools in this category were selling between about 48d and 53d, compared with from about 43d to 48d at the Christchurch sale at the end of April. Today, the top price for crossbred fleece was 58|d, compared with 52d at the Christchurch April sale. But while values showed this pleasing advance on rates being paid at the end of last season, they were still well behind those ruling at the Timaru sale in August last year, when although the market was already beginning to fall prices were still at remarkably good levels. That day most crossbred fleece was making close to 60d or slightly better, and the range for average to good to good wools of this description war from about 55d to 60d. Easing

Compared with the Dunedin sale earlier in the week, today’s market was considered to be slightly easier for all new season’s fleece and also pieces and bellies. Crutchings. which always form a sizeable proportion of this sale, and a small weight of second-shear wool were described as being up to 2} per cent cheaper than southern rates.

On inferior wools the market was at times irregular and there were some passings.

Early in the day, over an offering of about 700 bales, they amounted to almost 12 per cent. But as the sale progressed there were only odd passings and there was a generally good clearance. The Wool Commission, however, was still needed to give limited support to the market, on particularly fine crutchings and oddments. Its representatives placed the floor price bid on about 62 occasions during the sale of greasy wool, or on about 3 per cent of the 2080 lots of greasy wool offered during the day. Some 20 bales of wool were passed to the Commission’s bid. However, on many occasions the Commission’s entry into the market caused commercial buyers to raise their offers by several pence and the wool to be sold through the normal channels. Fine wool fleece was forward in only limited quantities and did not realy give a true picture of the fine wool market. The main weight of this wool sold at around about 50d to 54d, with halfbred reaching up to 62d, Corriedale to 581 d and Merino to 56}d. Top halfbred and Corriedale prices were well ahead of those paid in Christchurch last April, when the bulk of the halfbred and Corriedale wool was selling between about 45d and 50d and and up to only 54d. There was only a negligible quantity of Merino wool cataloged. Fine and coarse wool crutchings, although quoted cheaper on Dunedin rates, were also bringing distinctly higher rates than those paid at the elose of last season and were not far away from values being received a year ago.

Halfbred and Corriedale cnitehings were making from about 25 to 37d and the coarser wool crutchings from about 30d to 45d. Fine wool necks brought from 39d to 49d, coarser wool necks realised similar prices: fine wool pieces ranged 32d to 42d and crossbred pieces from 31d to 40d; while fine wool bellies realised from 29d to 40d and coarser wools from 25d to 38d. At these prices these wools were still well behind rates of a year ago but were as good or better than last April values. The offering for the sale totalled 15,125 bales of greasy wool and a small catalogue of scoured wool. A significant part of the new season's fleece was bright and attractive in appearance, while crutchings, although up to the usual standard for this sale, were carrying a certain amount of mud, as was also the case with belly wool. Main buying support for the market came from the Continent, and America was also in the picture, but Bradford was reported to be relatively quiet. Leading Sale* Top price of the sale was 62d paid for three bales of superfine half bred wool from A. M. Ramsay (Waihaorunga). Another five bales of super medium halfbred from the same vendor realised Sid and he also sold five bales of strong halfbred at 56d. Binned halfbred tn the catalogue of Pyne, Gould, Guinness Ltd , made to Slid for one bale. F. C. Morrison (Mayfield) had 10 bales at 59 J d as well as five bales at 58jd, and 59fd was also received by W. R. Shaw (Ikawai) for five bales. More binned wool brought 58ld and 58id and the latter price was also paid to J. D. McIlraith (Ikawai), for four bales. Among other leading sales were five bales from J. R. Truesdale (Mayfield), which made 561 d. A. K. Latimer (Ashburton) sold five bales of Corriedale wool at 58}d and another six bales at 54d and W. J. Inder and Son i Orton) had five bales of Corriedale hogget at 54jd, eight bales of Corriedale wool at 541 d and 13 bale* at 52|d.

The best price for Merino wa 56Jd for a single bale of cottec wool offered by the National Mortgage and Agency Company. Ltd. Another sale of super Merino ewe wool, for which a name was not available, was made at 56d for three bales.

Crossbred wool made up to 58td for three bales of binned wool offered by Wright. Stephen son and Company. Ltd. Pyne, Gould, Guinness Ltd . also had binned crossbred al 5Sd. R .1. McKenzie (Hook) realised 57d for four bales, and 56)d was received by A. R. Mansfield (Ikawai) for six bales, Hunter Farms, Ltd. (Hunter), for five bales, A. G. Davis (Walhaorunga) for six bales, and also by C. A. S. Meares (Hunter) for four bales of hogget wool. Mr Meares also had four bales at 56d. and this price was also received by J. H. O'Sullivan (St. Andrews) for five bales as well as for several lots of binned wool.

The top price for threequarterbred wool was 58»d for 13 bales of binned wool In the catalogue of the Canterbury Farmers’ Co-operative Association, Ltd. N. H. Hayman and Son (Walmate) received 58id for 1« bales and J. D. Cocks (Ashburton) sold eight bales at 56|d. The estate T. L. Squire and G. W. Squire (Maungatl) sold 11 bales at 56Jd.

Second-shear crossbred wool brought up to Slid for seven bales of hogget wool sold by T. R. Jones (Maungatl). J. W. Rodgers (Ashburton) also had four bales at 49fd and this price was also received for binned wool offered by the Canterbury Farmers’ Co-operative Association. C. A. S. Meares had four bales at 471 d and 11. L. John stone (Otaio) had 18 bales at 47id and 27 bales at 47d.

Crossbred crutchings brought up to 45d for three bales of binned wool entered by Wright. Stephenson and Co., Ltd. Among leading sales made under grow ers' brands were four bales sold by Ewart Brothers (Sherwood Downs) at 421 d, four bales from W. D. Inman (Cattle Valley) at 42d, three bales from A. K. Nolan (Peel Forest) at 41d, three bales from A. D. Wilson (Walmate) at 40id and three bales from T. E. Pagan (Beautiful Valley) at 40d.

Pyno, Gould, Guinness Ltd sold seven bales of binned half bred crutchings at 37jd, and among the leading sales made by growers were five bales from F. G. Morrison (Mayfield) at 35d. seven bales from L. M. Watson (Rangltata) at 34d, five bales from D. M. Gardner (Walmate) at 331 d and four bales from Ellon Farm (Mayfield) at 33Jd D. M. Dellow (Walmate) was paid 321 d for three bales of Cowriedale crutchings and 32id was the price received by J. and R Lilley (Ashburton) for six bales and H. H. Lowe (Ashburton) for five bales. Detail* of catalogue* of greasy wool in order of sale were:— Bales Wright, Stephenson and Co., Ltd . 2440 Canterbury Farmers’ Cooperative Assn.. Ltd. 3411 National Mortgage and Agency Company. Ltd. 2409 Dalgety and New Zealand Loan. Ltd. . 2908 Pyne, Gould, Guinnes* Ltd. 3957 Total .. .. 15.125