Wool Values Decline Again At Christchurch Sale

Press, Volume CV, Issue 30965, 22 January 1966, Page 19

Wool Values Decline Again At Christchurch Sale

Most classes of wool were easier again when the fifth Christchurch sale of the 1965-66 season was held at the Wool Exchange at Addington yesterday. From the outset it was apparent that prices were distinctly lower than at the last Christchurch sale in December when they also showed an easing tendency.

Compared with pre-Christmas rates in Christchurch, most half-bred and Corriedale wools were Id to 2d per lb cheaper, and crossbred wools showed a similar depreciation.

A redeeming feature of a rather disappointing market.

was that there did not appear to be any further substantial easing in values as the sale progressed. Not Many Passings ' While there were occasional passings throughout the day, these were not unduly heavy and the bulk of the offering found buyers at auction. Early in the day over an offering of about 900 bales passings amounted to Only 2 to 3 per cent, and at one stage during the early afternoon only five bales were passed while 649 were being offered.

. The Wool Commission placed its floor price bid on only 15 lots out of the 2235 put up during the day. This was on mainly inferior fine Wool oddments and the commission had only 12 bales passed to it. . Preliminary estimates put the likely average price for (he sale at about 43 to 44d per pound. At 44d the average would be 3 to 4 per cent lower than in December. This decline of about l}d per pound, or £2 Is 3d for a bale of 3301 b, would mean a loss] to growers of more than] 150.000 on yesterday’s offer-1 ing of almost 25,000 bales. At 44d per pound this offering would return about £l.sm. Compared with the most recent fine wool sale at Dunedin, medium to strong halfbred wools showed the most marked decline, and were quoted 2} to 5 per cent cheaper. A factor in this was that Japan was reported to be less active on these wools than for some time. Merino wools and extra fine halfbred barely maintained late rates, and fine halfbred was slightly easier. Compared with this week’s Auckland sale, extra fine crossbred wools were in buyers’ favour, and coarser descriptions a shade easier. Better Although the sale was disappointing, it was still a good deal better than values of a year ago. The average price for the January sale last year was 41jd per pound. Compared with last January fine wool was 2d to 4d per lb dearer, but crossbred was only fractionally better. There were still some outstanding sales of top class fine wool. Noteable among these were those of J. W. Ensor and M. J. Ensor, of Okuku. M. J. Ensor sold six bales of Corriedale ewewool at 661 d, and sold 19 bales together at more than 52d per lb. J. W. Ensor, who was paid up to 64d for Corriedale wool, had 35 bales which sold at 52d or better. The offering was about evenly divided between halfbred and crossbred wools. The bulk of the halfbred wools brought from about 49 to 55d. which compared with about 51 to 56d in December, and 45 to sOd a year ago. Fine halfbred wool sold mainly from about 53 to 58d. medium from about 50 to 55d, and strong halfbred from about 48 to 53d. There was only a small weight of Merino wool, and this also sold mainly from about 49d to 55d. In the case of crossbred wool values lay mainly be-

tween 42d and 47d, compared with 45d to 49d in December, and 41d to 46d a year ago. Fine crossbreds were selling from 44d to 49d, medium crossbreds from 42d to 46d, and strong crossbreds from 40d to 45d. Oddments did not show a great deal of difference from December rates. Fine wool necks brought from 43d to 54d. coarser necks from 38d to 46d; fine wool pieces from 39d to 48d, and coarser qualities from 30d to 40d; fine wool bellies 34d to 42, and coarser bellies from 26d to 37d: fine wool crutchings from 25d to 31d, and coarser crutchings from 27d to 34d.

The offering was drawn largely from Canterbury, Marlborough, and the West Coast, and consisted mainly of ewe wools which were well grown and sound and free from discolouration, but in a number of cases carrying some dust and condition. Leading Sales The top price of the day was 661 d paid to M. J. Ensor for six bales of Corriedale ewe wool. He also had four bales of hogget wool at 56Jd. and another four bales of ewe wool at 56d. J. W. Ensor received 64d for six bales of ewe wool, 603 d for five bales of hogget wool, 58} d for six bales of ewe wool, and 57d for another four bales. D. W. and R. D. Ensor (Cheviot) had four bales at 59d, and 12 at 58J d. The Beckenham Hills Trust (Cheviot) had five bales at 58 Jd, and this price was also received by R. B. Johnstone (Waipukarau) for 13 bales of hogget wool. G. D. Gillanders and Sons (Darfield) had 12 bales at 57 jd, and B. W. Shipley (Harewood) had 12 bales at 57d. Halfbred wool made to 60d for 12 bales in the binned entry of Pi ne, Gould, Guinness Ltd., and for two bales in the bins of Dalgety and New Zealand Loan Ltd., A. T. Allan (Scargill) had five bales at 58d, and L. G. Knight (Ashburton) received 57id for eight bales. Hewitt Bros. (Darfield) had 13 bales at 56id, and A. D. Doig (Ashburton) received 561 d for nine bales. Sales at 56d were made by Mendip Hills Station (Parnassus) for seven bales, D. R. Middlemiss (Mitcham) for five bales, J. C. Cameron (Newlands) for 10 bales, J. J. Harnett (Ashburton) for 10 bales, and D. G. Todd (Culverden) for four bales.

Top price for Merino wool was 57 jd for four bales from J. R. Todhunter (Glenfalloch). He also had six bales at 57d. and six at 56d. Glenlee Station (Blenheim) sold eight bales of Merino at 561 d. and another six bales at 55|d. The estate W. B. Stevenson (Awatere) also had five bales of hogget wool at 55 J d. and five bales of wether wool at 551 d. For three-quarterbred wool D. A. McLaughlin (Ashburton) received 53d for four bales. Among other leading sales was one by S. F. Phillips (Rangiora) who sold six bales at 51d, and another good sale was made by Wilkinson and Page (Ashburton) with trine bales ait 50d, and the same money was received

by J. C. Cameron (Newlands), also with nine bales.

Crossbred wool brought to 541 d. This price was received by J. B. and C. R. Bayley (Rangiora) for six bales of hogget wool, and the same price was received for four bales in the binned catalogue of the National Mortgage and Agency Company, Ltd. Other good sales included four bales of Romney at 52d from Mrs W. J. Leach and Son (Scargill), four bales at 51d from R. J. McLachlan (Hawarden), six bales at 50« d from L. F. Isitt (Waiau). and six bales at 50d from B. E. Goodwin and Son (Little River). J. B. and C. R. Bayley also had 10 bales at 50d. Southdown wool brought to 59}d for six bales in the bins of Pyne, Gould, Guinness Ltd., and the New Zealand Farmers’ Co-operative Association, Ltd., also had four bales of binned Down wool at 59}d. Quarterbred wool from R. M. D. Johnson (Mt. Torlesse) sold at 55|d for 12 bales, and 55d for five bales of hogget wool. Halfbred two-shear wool brought to 48Jd for four bales offered by Dalgety and New Zealand Loan, Ltd., and the National Mortgage and Agency Company, Ltd, sold

four bales of crossbred twoshear wool at 44d.

Among sales of lambs’ wool

were eight bales of crossbred at 42d from H. G. Diedrichs (Kokatahi). Details of catalogues in order of sale were:— Bales National Mortgage and Agency Company of N.Z., Ltd 5622 Pyne, Gould, Guinness Ltd .. 6669 Dalgety and New Zealand Loan, Ltd. .. 8749 New Zealand Farmers’ Co-operative Association of Canterbury, Ltd. .. 3956 Total .. ... 24,996