Second Wool Sale One Of Best For Some Time

Press, Volume CIV, Issue 30879, 12 October 1965, Page 28

Second Wool Sale One Of Best For Some Time

The Christchurch wool selling centre had one of its best sales for some time when the second auction of the 1965-66 season was held at the Wool Exchange yesterday. Competition was keen and widespread, passings were few, the Wool Commission was called on to support the market only infrequently, and a considerable weight of fleece-w r ool brought more than 50d a pound.

The stronger qualities of halfbred and Corriedale wool, and finer crossbred wool, were bringing up to 3d to 5d per lb more than last August. Far East buying interests were thought to be a factor in the demand for these classes of wool.

Necks, bellies and pieces, also sold very buoyantly, values tending to be higher than at the last sale in Christchurch. Crutchings, however, met a rather erratic inquiry. They barely held to late rates and at times were cheaper.

Indicative of the strength of the market was the small proportion of passings. Only 10 bales were passed out of the first 700 bales to be offered, and in the second catalogue of the day 173 lots were offered before one was passed. Later in the day passings increased slightly, and at one stage were running at about 8 to 9 per cent. But there was still an excellent clearance.

The Wool Commission placed its floor-price bid only 14 times, on mainly crutchin gs and halfbred oddments, and had only four bales of Merino pieces passed to it. It bid on only about 1 per cent of the 2615 lots offered. The average price for the sale is likely to be about 44d to 45d per lb. This is still about 4id per lb. or 9 per cent, below the average recorded at the Christchurch sale in August last year. At 44 Id per lb, an average 3201 b bale would bring about £59 6s Bd.

Pleasing Feature A particularly pleasing feature of the sale was the obvious keenness of the buying bench. It really looked as though they wanted wool on this occasion. All halfbred wools appeared to be selling better than in August, with the stronger qualities showing the most marked improvement. On average, they could be quoted Id to 2d per lb dearer. The main weight of halfbred and Corriedale wool was bringing from about 50d to 55d, compared with 49d to 54d in August, and 54d to 59d a year ago This would put these wools

about 4d below values of a vear ago. Halfbred wools brought to 60jd yesterday, compared with 67d last year, and Corriedale wool to 58{d. against 66d at the Christchurch October sale last year. Merino wools were offered in limited quantities, and while they were still making between 50d and 60d, they were also considered to have shared in the general appreciation of values. The finer crossbred wools gained ground, but coarser sorts showed little change from August rates, and crossbred wools generally were still 2d to 3d per lb cheaper than a year ago. Average to average to good crossbred wools sold mainly from 48d to 53d, which was about the same range as was recorded in August, and compared with 51d to 55d a year ago. These wools made up to 56}d, compared with 56}d in August, and 60jd a year ago. Second-shear Steady There was little change in the level of values for second-shear crossbred wools, which continued to sell between 40d and 48d. Compared with a year ago. these wools were still about 5d a pound cheaper Also necks, pieces and bellies, met a sale from part to firmer than in August. Fine necks realised from 40d to 52d, comoared with 38d to 49d in August, and coarser necks ranged from 44d to 48d. Fine wool pieces brought from 35d to 48d, compared with 40d to 46d two months ago, and coarser pieces realire 1 from 30d to 44d, against 33d to 42d in August. Fine wool bellies made from 28d to 43d, compared with 25d to 41d; and coarser sorts from 27d to 39d, compared with 25d to 40d. Crutchings represented one of the weak points of the market. They met a rather erratic sale and barely held to August rates O.i occasions, they were cheaper. Fine wool crutchings brought from 20d to 32d, compared with 24d to 39d in August, and coarser crutchings from 27d to 39d, compared with 26d to 42d at the last sale. Compared with a year ago. these wools were about 8d to lid a pound cheaper The offering of 23,016 bales in 2615 lots was drawn mainly from North and Mid-Canterbury and Marlborough. Wools were mainly sound and well grown, and were longer than was the case last year. However, due to the earlier wet conditions, there

was some colour showing and also some mud in bellies and crutchings. In addition to the Far East interests already mentioned, the Continent was again to the fore in the market. America also provided support and local mills were active on finer qualities. Bradford was relatively quiet. Top Price The top price of the day was 60Jd for three bales of fine halfbred wool in the binned entry of the National Mortgage and Agency Company of New Zealand, Ltd. The New Zealand Farmers’ Co-Operative Association of Canterbury, Ltd., also had five bales of extra-fine halfbred w’ool at 60d. T, H. Stone (Hororata) realised 59$d for five bales and this price was also paid for another lot of binned wool. E. W. Feary and Company (Oxford) sold six bales at 58}d and W. M. Macßeady (Rakata Gorge) had 15 bales at 58d. which w r as also the price re ceived by R. N. Acton-Adams (Waipara) for 16 bales and A. D. McLeod (Hororata) for five bales. Sales at 57|d were made by A M. Richards (Hororata) for 13 bales and C. C. Thorne (Hororata) for seven bales. L. G. Gar diner (Waiau) had nine bales a! 571 d and this price was also re ceived by A. J. Duncan (Sheffield) for 11 bales. Growers who had sales at 57d included L. G Kingsbury (Wakanui), R. A Smith (Sheffield), A. T. Stone (Hororata), D. W. Stone (Horo rata), W. Montgomery (Southbridge) and D. P. Graham (Tai Tapu). Corriedale wools made to 59fd for 13 bales from T. F. Hight (Hororata) and to 581 d for four bales of ewe wool from J. F. G. Blakeley (Waikari) who also had four bales at 57Jd. The latter price was also paid to H. M. A McCormick (Ashburton) for six bales. Sales at 571 d were made by M. and H. Fitzsimmons (Cheviot) for 11 bales and by the estate S. Larsen (Swannanoa) for 23 bales. M and H. Fitzsimmons also had a sale at 56|d for 19 bales and 564 d was paid to O and C. H. Gray (Parnassus) for 20 bales and the estate J. Fitzpatrick (Cheviot) for nine bales. Sales at 56d were made by O. J. and J. Brownlee (Te Pirita), J. A. Courage (Amberley), A. L. Shipley (Harewood), J. G. Lili (Sandy Knolls), K. A. Adams (Cheviot), G. C. Hiatt (Cheviot), R. D. Gould (Amberley), the estate S Larsen and H. M. A McCormick. The highest price for Merino wool was 59id for four bales of wool offered by the New Zealand Farmers’ Co-operative Association. J. R. Todhunter (Rakaia Gorge) had four bales at 58id and six bales at 56|d. Summerlands Company (Blenheim) sold seven bales of hogget wool at 58d, four bales at 560 and four bales at 55id. Deans and Sons (Darfield) sold seven bales of threequarterbred wool at 56d. A. J Duncan (Sheffield) sold another nine bales at 554 d, and Mrs B A. Thwaites (Hororata) sold four bales at 55d An entry in the catalogue of Pyne, Gould. Guinness Ltd., brought 54id, and 544 d was the price for 12 bales

from C. Gallagher (Ashburton) and for 10 males from L. M Trott (Ashburton). Crossbred wool sold to 56$d for five bales from H. H. Harris Farms, Ltd. (Oxford). Binned hogget wool in the catalogue of the New Zealand Farmers’ Cooperative Association also made 56d. Sales at 54id were made by T. A. McKeller (Pigeon Bay) for nine bales, and by J. D. Gallagher (Rakahuri) for eight bales of hogget wool. L. A. Ferguson (Sheffield) sold nine bales at 54$d and the same price was received by W F Gerard (Hororata) for nine bales. K. W Throp (Westerfield) for five bales, W. L. Greenslade (Mayfield) for 10 bales and the Estate W. E. Greenslade (Mayfield) for eight bales. Second-shear Romney wool made to 48*d for four bales from R. G. Barrett (Kaikoura) T. P. Shand (Blue Duck) sold 16 bales of crossbred two-shear wool at 48d. W. F. Minehan (South Westland) had four bales at 47£d. N. H. Finney and Company (Christchurch) sold six bales at 46|d and sales at 46jd were made by L. G. Maginness (Wainui) for 14 bales and by F. J. Williams (Fox Glacier) for six bales. Two-shear halfbred wool realised to 471 d for five bales of binned wool offered by Dalgety and New Zealand Loan, Ltd. Another seven bales sold at 45d. Pyne, Gould, Guinness Ltd., sold binned Southdown wool at 55Jd for five bales and the National Mortgage and Agency sold three bales at 54Jd. Details of catalogues in order of sale were: Bales New Zealand Farmers’ Co-operative Assn, of Canterbury, Ltd. 2,693 Dalgety and N.Z. Loan, Ltd. 7,501 National Mortgage and Agency Company of N.Z., Ltd. 4,813 Pyne, Gould, Guinness Ltd. .. 8,009