Wool prices unchanged

Press, Volume CXI, Issue 32540, 25 February 1971, Page 3

Wool prices unchanged

(New Zealand Press Association) AUCKLAND, February 24. Wool prices on the second day of the February sale in Auckland today showed no general change on those ruling on Monday, although buyers showed a tendency to be more selective.

While some of the better quality lamb’s wool was a shade dearer, the market for poorer style second-shear wools, fleece wools and oddments became somewhat irregular, and prices for these wools showed an easing tendency.

Generally, the market showed little upward or downward movement, although the Wool Commission appeared to be called upon to give greater support under the floor price scheme than on the first day. The average price for the offering of 18,549 bales was estimated to be about the same as on Monday—23.sc per lb. Selling was exceptionally fast, with the main demand again coming from Eastern and Western Europe and some support being given by the United States. While medium and coarse crossbred wools of the standard New Zealand type have encountered much greater market stability this season in comparison with Merinos and other extra fine wools.

the market remains in a depressed state and the out-! look for the future is ob- ' scure. While uncertainty persists' the Wool Commission is in a cleft stick over the question of feeding more of its stockpiled wool into the market. If the commission did sell at present prices it would de so at a loss and it would also run the risk of depressing the market for the new season’s wool. It became apparent today, too, that the increasing activities of private buyers and the smaller quantities of wool coming to auction in Auckland and at other selling centres are causing sections of the wool trade mounting concern. Some people in the trade, brokers in particular, believe that private buying on the present scale is distorting the whole wool-selling system, and that corrective action must sooner or later be taken. Because they are handling a diminishing quantity of wool, brokers are unable *c absorb increasing costs in their stores. Some people believe that it may only be a matter of time before brokers are forced to broader, theit role from that of warehousemen to that of buyers in their own right. Under present circumstances it remains an open ques tion whether farmers are earning more from wool by selling privately than by selling through the auction. If the auction system founders the private dealer will lose the yardstick on which his own dealings are based. RANGE OF PRICES

c. c. Fine Crossbred, 48/ 50s: Good 25 to 26J Average Medium Crossbred, 23 to 241 44/48s: Good 24 to 25 Average Strong Crossbred, 221 to 23? 40/46s: Good 24 to 25 Average Early Shorn, 3in-5in, 221 to 23) 44/48s: Good 24 to 25 Average Second-shear, 31n-41n, 214 to 23) 44/48s: Good 25 to 28) Good average 231 to 24J Average Second-shear, 2in-4in, 201 to 23 44/48s: Good 241 to 26 Good average 23 to 24 Average 20 to 221 ODDMENTS Second-shear Bellies and Pieces, 44/ 48s: Average 15 to 16) Inferior Crossbred Pieces, 44/ 13 to 14) 48s: Average 17 to 18) Inferior Crossbred Bellies, 15) to 16) 44/48s: Average 15| to 16) Inferior 14 to 15 LAMBS' WOOL Crossbred. 50/56s: Good 264 to 28 Average Crossbred, 3in-4in, 25 to 26 50s, 48/50s: Good 25 to 261 Average 23 to 24) Inferior and seedy Crossbred, 50s, 48/ 17 to 22 50s: Average 24 to 25) Inferior Crossbred Seconds, 22 to 231 50s, 48/50s: Average 17 to 18 Inferior 15 to 16)