More Wool Passed On Second Day Of Seventh Sale

Press, Volume CVI, Issue 31326, 23 March 1967, Page 18

More Wool Passed On Second Day Of Seventh Sale

For finer wools the market held up well when the seventh Christchurch wool sale was continued at the Wool Exchange at Addington yesterday, but crossbred wools had a dull sale and more wool was passed to the trade and the Wool Commission than was passed on the first day of the sale on Monday.

The general standard of the offering could have been a factor in this. It was officially stated to be hardly up to that earlier in the week.

The halfbred and fine three-quarterbred wools appeared to benefit from being in rather smaller supply and were quoted in sellers’ favour compared with Monday. Crossbred wools were officially quoted as being unchanged on Monday but they met a dull sale and if anything the market seemed weaker than earlier in the week with more of this wool going to the Wool Commission. As on Monday the better lambs’ wool sold reasonably well but poorer style wools were not in such demand and were reported to be slightly easier than they were at the beginning of the week. More Passed Of the offering of 20,417 bales, more than 32 per cent (6538 bales) was passed to the commission or the trade. This compared with total passings of 24 per cent on Monday. The commission had 5149 bales passed to it in the auction room and this represented 25 to 26 per cent of the offering. On Monday passings to the commission amounted to some 20 per cent of the offering. In addition to the wool directly passed to the commission during the sale another 274 bales were represented in lots for which there were no bids at auction and these bales may also be taken up by the commission. The wool passed to the commission was almost exclusively crossbred fleece and skirtings, but occasionally

there was a little fine wool skirtings and stronger fine wool fleece. The commission placed its floor price bid on 774 lots and 9008 bales and this represented about 44 per cent of the total number of bales offered. On Monday the commission’s bids covered 38 per cent of the offering. Price litimate A preliminary estimate of the average price for the day given yesterday was 37d per lb. An estimate given for Monday’s section of the sale was 37|d. At 37d the average would be 2}d per lb back on last month’s Christchurch sale and 83 per lb or more than 18 per cent back on last year’s February sale. There was a period during the afternoon when the market for fine wools was almost reminiscent of boom times, with buyers competing excitedly with each other for the big 40 and 50 bale lots in the binned section of one of the catalogues. At this stage strong halfbred were bringing from 40d to 50d and medium halfbreds ranged up to 59di Merino wools held their values well and the better wools in this category sold strongly. Good Sale Wool from the Erewhon station in the Mid-Canterbury high country topped the sale selling to 63 J d for nine bales. Nearly 60 bales from the station reached or bettered 50d and 42 bales sold at 55d or better. At the other end of the sale a line of dags sold in the afternoon realised only a Id per lb. The main weight of average to good and good style Merino continued to sell at 50d to 57d which was fairly close to rates being paid a year ago. Among the halfbreds and Corriedales the bulk of the selection brought from 46d to 53d, with fine qualities ranging from 49d to 55d, medium qualities from 48d to 53d and stronger qualities from 43d to 48d. At these rates values were about 4d to 5d behind rates of a year ago. In the crossbred department, the main weight of the wools made from 36d to 42d, with fine crossbred selling mainly from

3Sd to 43d and medium from 35d to 39d, and at these levels they were about 8d or 9d below rates ruling in March last year. Fine wool lambs' wool ranged from 26d to 45d and coarser lambs’ wool from 26d to 43d. Second-shear crossbred wools made from about 29d to 38d. Skirtings followed fairly closely the rates ruUng on Monday with fine wool necks selling from 40d to 48d and coarser sorts from 33d to 41d; fine wool pieces from 28d to 46d and coarser pieces from 23d to 37d; and fine wool bellies from 25d to 40d with crossbred bellies at 18d to 29d. Again the main competition came from the Continent with some support from Japan and local mills. Leading Sales The top price of the day was 63id for nine bales of super Merino wool from the A. A. Urquhart Trust (Erewhon, Mt. Somers). Another six bales from the same source brought 563 <1 for strong Merino wool. Binned wool in the catalogue of the National Mortgage and Agency Company of New Zealand, Ltd., also topped the 60d mark. Seven bales of fine Merino sold from 62d and a single bale from J. R. Jackson (Blenheim) brought 60Jd. Four bales from W. H. Jackson (Blenheim) realised Sfild. Seven bales of Southdown cross wool 'in the binned entry of Pyne, Gould, Guinness Ltd.,

brought 623 d and three bales of Southdown wool amongst the binns of National Mortgage realised 583 d and 18 bales of Southdown wool offered by Pyne. Gould, Guinness Ltd., brought 581 d. Halfbred wool ranged up to 59d for 34 bales of medium quality wool in the binned entry of National Mortgage. The same firm also sold out of its bins seven bales of fine halfbred at 58Jd and another 21 bales at 57Jd. Binned wool in the catalogue of Pyne. Gould, Guinness sold to 57d for three bales. Among leading sales under brands were four bales from N. E. E. Mclntosh (Rotherham), which made 56}d, and six bales of medium halfbred wool from R. A. and A. J. Blain (Lauriston) which sold for 56d. S. Henderson and Sons (Bankside) realised 551 d for eight bales, and the Estate H. R. Bell (Rakaia) received 55id for eight bales. W. L. Nell (Ra kaia Gorge) had six bales of medium wool at 543 d and A. P. Smith had six bales at 541 d. In the Corriedale section L. W. Savage (Waiau) sold six bales at 56id and F. B. Lloyd (Coldstream) sold four bales Of medium wool at 55id and another seven bales at 54id. Sales at 541 d were also made by P. H. and D. Loughnan (Amberley) for nine bales and J. K. Fitzpatrick (Cheviot) for six bales. One of the best sales for threequarterbred wool was that made by B. A. Coe (Scargill), who realised 49)d for seven bales. The same vendor had nine bales at 45|d. Binned wool in the catalogue of Pyne, Gould, Guinness sold to 48d for five bales and 47)d for five bales. Other growers who had good sales were B. A. Barnes (Cheviot) with eight bales at 465. F. M. Costello (Blenheim) with 13 bales at 451 d and W. A. and J. E. Rainey (Cheviot) with eight bales at 453 d. CROSSBRED Crossbred Sales Crossbred wool brought to 49Jd for three bales of extra fine wool amongst the binned wools of National Mortgage and

Agency. The same firm also had 15 bales of binned wool at 473 d B. A. Coe (Scargill) realised 46d for five bales of fine crossbred wool, and sales were made by T. C. Dickson (Waiau) with six bales at 45id, A. J. Blakely and Company i Amberley) with six bales at 451 d, L. D. King (Hororata) with four bales of Romney wool and the Estate G. H. Dalglish (Le Bons Bay) with six bales of superfine crossbred at 45d. Halbred and Corriedale lambs* wool sold to 453 d for eight bales of halfbred lambs’ wool amongst the binned wool of Pyne, Gould Guinness Ltd. Another nine bales of halfbred wool amongst this firm’s groups brought 431 d. For 11 bales of Corriedale lambs’ wool P. P. L. Dillon (Blenheim) was paid 41id and 40|d was the price for five bales of Corriedale lambs' wool from Pahau Downs, Ltd. (Culverden). A. Murray and Son (Cheviot) realised 403 d for five bales of halfbred wool and the Estate W. H. Turner (Walkari) sold four bales of halfbred lambs’ wool for 40id. Three-quarterbred lambs' wool brought to 41)d for 12 bales from from L. D. and D. D Davies (Cheviot). For six bales the Lands and Survey Department (Motunau) received 41d and a sale was made by D. P. Graham (Tai Tapu) at 401 d for six bales. J. B. Hay (Pigeon Bay) sold eight bales of fine crossbred lambs’ wool at 42d, and 41d was received by J. F. Thwaites (Hororata) for six bales and by R. H. Walls (Lagmhor) for five bales. E. B. Evans (Ashburton) sold 16 bales at 40Jd and sales at 40d were made by A. T. Watson for five bales and by O. and C. H. Gray (Parnassus) for 11 bales of Romney wool. Details of catalogues in order of sale were: Bales Pyne, Gould, Guinness Ltd. 94MJ National Mortgage and Agency Company of N.Z. Ltd 10.931 20,417