Wool prices slip at Auckland

Press, Volume CXII, Issue 33063, 2 November 1972, Page 2

Wool prices slip at Auckland

(New Zealand Press Association)

AUCKLAND, November 1.

Prices at the Auckland wool sale today declined 5 per cent to 10 per cent on the level at Napier last week.

The official report said that fleece of good length was down 5 per cent, and shorter and poorer wools fell as much as 10 per cent. Second-shear oddments were also up to 10 per cent cheaper.

The trends left an uneasy feeling that in the crossbred wool market, at least, marked irregularities could be expected from now on. After the euphoria engendered by the boom at Dunedin and Christchurch barely a month ago, the market reached what some believe is a saner level — but none too high for farmers. Buyers are reacting to pressure from the carpet trade in particular, and to uncertainties surrounding the

downward floating of British currency.

Today the market still showed strength, perhaps because of the activities of buyers who had sold forward and had yet to procure their wool.

But whether the market will flatten at present levels or decline rapidly as the season progresses nobody will predict. A great deal seems likely to depend on quality and quantity at any particular sale, and on the movements of international currency. 11 Oc average Today growers received prices which went as high as 170 c a kilo for good style hogget wool, but which are likely to average perhaps 110 c a kilo over the whole offering. Such an average brings the market back to something just under the reduced prices at Invercargill on October 20. The main buying strength came from the Continent but it was believed that Japan was in the market, too, for certain wools. One prominent buyer said that although the United States professed to be out of the market he would not be surprised if some of the Auckland offering went to America.

The offering of 22,007 bales of greasy wool was 50 per cent hogget, 30 per cent ewe, and 20 per cent oddments. The wool included attractive lots of well-grown, sound, shorn hogget fleece — some of the best seen at Auckland for several years. The Wool Commission offered 3497 bales from its stockpile. Some of this was discoloured and a good deal tended to be affected by moths, but even allowing for these factors the wool sold slightly below market rates for the new season’s offering. RANGE OF PRICES Extra Fine Crossbred, 52s and 54/56s

Good c c 160 to 166 Average 152 to 159 Poor 140 to 151 Fine , Crossbred, 48/50s: Good 134 to 138 Average 124 to 133 Poor 116 to 123 Inferior 105 to 115 Medium Crossbred, 46/50s: Good 131 to 138 Average 123 to 130 Poor 110 to 122 Inferior 99 to 109 Medium Crossbred, 46/48s: Good 128 to 135 Average 120 to 127 Poor 107 to 118 Inferior 98 to 106 HOGGET Extra Fine Crossbred (shorn), 52s and 54/56s Good to super .. 163 to 170 Good 154 to 161 Average 142 to 152 Poor 132 to 140 Fine Crossbred, 50s and 50/52s: Good to super .. 149 to 156 Good 144 to 148 Average 138 to 143 Poor 130 to 137 Fine Crossbred, 48/50s: Good 141 to 146 Average 134 to 140 Poor 128 to 133 Early Shorn, 46/50s: Good 128 to 132

Average Poor 123 to 127 119 to 124 Second-shear, 46/50s: Good 126 to 130 Average 121 to 125 i Poor 114 to 120; Inferior 100 to 112 NECKS Extra Fine Crossbred, 50/56s: Average 145 to 150 Inferior 138 to 144 Fine Crossbred: Average 143 to 148 PIECES Fine Crossbred Hogget: Good 110 to 122 Average 100 to 109 Crossbred, 46/50s: Good 85 to 93 Average 75 to 84 Inferior .. 66 to 74 BELLIES Crossbred, 46/50s: Good 90 to 100 Inferior 80 to 89 CRUTCHINGS Crossbred, 44/48s: Good : . .. 114 to 124 Average 98 to 109 Inferior 78 to 90