Values up again at Timaru sale

Press, Volume CXII, Issue 33093, 7 December 1972, Page 14

Values up again at Timaru sale

The trend of values was still upward when the woolselling season continued at Timaru yesterday with another very good sale for South and Mid-Canterbury and North Otago growers.

Almost all classes of wool showed some improvement on the good rates paid in Christchurch last Friday.

The biggest advances were shown by the finest and the coarsest wools in the selection. Merino was up by about 10c per kilogram and the finest edge of the halfbred and Corriedale by about sc; and at the same time the coarsest of the crossbred wools gained about 5c to Bc. Other classes of wool were fully firm to a shade better. The climb back towards the high rates paid in October at Christchurch and Timaru continued—and while some wools came fairly close to the earlier very buoyant rates, in the main yesterday’s prices were still trailing some distance behind October levels. WIDE INQUIRY A significant aspect of the sale, and one that promises well for the market soon, was the good spread of competition. Almost all countries were represented, including Western and Eastern Europe, and Japan, with Continental interests described as the main buyers. As predicted, Bradford was much more active, particularly on woolly hogget. Canterbury mills were also very active on Merino wools. Under strong competition, the sale—which opened out on a stronger note —remained fairly steady throughout the day. Of the offering of 18,087 bales of greasy wool and three bales of scoured wool, passings amounted to only 170 bales, or less than 1 per cent of the selection. The sale was notable for an offering of some 2300 bales of Merino wool, mainly from the Mackenzie Country, there being some outstanding clips among them. They formed about 13 per cent of the offering. In contrast with the weak markets of the last few years, Merino growers had a welcome change of fortune yesterday. The bulk of the average to good-style wool changed hands at prices between about 190 c and 210 c, and at these rates values were about 117 c to 126 c per kilogram ahead of a year ago when the Wool Commission (now the Wool Marketing Corporation) was still having to support such wools quite extensively. A year ago, the top price for Merino was 91ic. Yesterday, it was 224 c for 20 bales of wether wool out of the offering of Godley Peaks Run Company (Lake Tekapo), which sold 99 bales between 201 c and 224 c. Indicative of the strength of the market for good Merino wools, the estate D. Urquhart and Sons (Grays Hills) also sold 186 bales from 201 c to. 222 c, with 23 bales of two-tooth wool making the top money. A year ago, the estate’s best money was 88|c. During the day, 32 sales of Merino wool were made at 200 c or better.

At these sort of prices, Merino was quoted 5 per cent up on last week’s Christ-

church rates and selling relatively close to October levels. However, it was noticeable that while there was a quite definite premium for style in these wools, those on the shortish side were quite heavily discounted. HALFBRED VALUES The proportion of halfbred and Corriedale fleece in the offering was only a little greater than Merino at about 16 per cent, and these wools were reported not to be up to the standard of those offered at the last Timaru sale. The bulk of these wools were selling at fractionally better rates than in Christchurch last week but the finest qualities moved up by about 2| to 5 per cent and looked to be about 5c per kilogram dearer. Twenty-three sales of these wools were made at 200 c or better. The finer qualities brought mainly from about 185 c to 195 c, with medium halfbreds and Corriedales at 180 c to 190 c and stronger qualities at 170 c to 180 c. They were running about 110 c to 126 c ahead of the Timaru sale last December, but were generally still trailing the rates paid at the last Timaru sale in October. The top price for halfbred or Corriedale wool yesterday was 217 c. A year ago it was 79c.

Whereas a year ago halfbred and Corriedales and coarser wools were selling about the same levels, a feature of the market now is that the finer wools have regained a quite substantial margin over the crossbred wools, and are bringing somewhere about 30c more on average. Yesterday, most of the finer wool was selling between about 170 c and 210 c whereas crossbred wools were making from about 130 c to 180 c, except for a small selection of extra fine crossbred making to more than 200 c.

The main weight of fine crossbred was selling yesterday from 160 c to 180 c, with medium qualities making from about 140 c to 150 c and coarser wools from about 138 c to 148 c. Three sales were made at 200 c or better, the top money being 203 c. Last year, the corresponding top price was 74|c. Crossbreds made up almost hal fthe fleece offering but were only an average style lot and some of the later shorn wools were showing some tenderness, cotting, and discolouration. While fine and .medium qualities were fractionally dearer than at Christchurch, the coarser qualities were up to 2| per cent dearer.

As with the finer wools, they were far ahead of the prices being paid last December — by from 97c to 113 c for the finer wools and from 80c to 85c for the medium and coarser crossbreds. Both halfbred and crossbred skirtings also improved by 2| per cent on last week’s Christchurch sale. ODDMENTS

Fine-wool necks made from 146 c to 185 c, with coarser sorts at 120 c to 185 c; fine pieces realised from 132 c to 165 c and coarser qualities

from 90c to 153 c; fine-wool bellies from 112 c to 158 c, and coarse from 88c to 115 c; and crossbred crutchings ranged from 80c to 125 c.

The good prices and a dampish day in South Canterbury brought many farmers in to Timaru to watch their wool being sold. One man connected with the selling side of the business said that the improvement in wool prices had now been spread over the whole farming community, as prices had been on the way up since the beginning of the year. Leading prices As already mentioned the top price for Merino was 224 c for 20 bales from the Godley Peaks Run Company. The next best price was 222 c paid for 23 bales of two-tooth wool from the estate D. Urquhart and Sons (Grays Hills) and for 17 bales of wether wool from Glentanner Station, Lake Pukakl. The latter station also received 221 c for eight bales of ewe wool. Sales at 219 c were made by the estate D. Urquhart and Sons for 18 bales of wether wool, by T. J. Nelson (Cave), for two bales of super-fine wool, and by Glentanner Station for nine bales of wether wool.

Godley Peaks Run Company also had nine bales of wether wool at 217 c, and this price was received by Dry Creek Station (Fairlie) for 12 bales. Sales at 216 c were made by W. G. Elliot (Twlzel) for eight bales and by the estate D. Urquhart and Sons for 19 bales of two-tooth wool.

The top money for halfbred was 217 c for eight bales of hogget wool from P. E. Kelland (Omarama). A. T. Murray (Lake Tekapo), received 214 c for 13 bales of hogget wool, and 212 c was paid for 11 bales in the bins of Pyne, Gould, Guinness Ltd. Braemar Station (Lake Pukaki), sold 15 bales of wether wool at 211 c, and Huxley Gorge Station received 209 c for four bales of hogget wool. Clayton Farming Company, Ltd (Fairlie), sold four bales of Corriedale wool at 208 c, and eight bales at 207 c. and Smith Brothers (Hakataramea), received 202 c for four bales.

Quarterbred sold to 204 c for a single bale in the bins of Wrightson-NMA, Ltd, and another nine bales in the bins of the same firm sold for 194 c.

Three-quarterbred wool sold to 197 c for eight bales of hogget wool from J. A. Anderson (Albury). D. R. Harvey (Ealing) received 196 c for five bales of hogget, and W. H. D. and A. W. Milne (Mount Nessing) received 194 c for six bales.

J. N. McLeod (Albury) received 203 c for five bales of extra-fine crossbred hogget. Two bales of crossbred hogget wool in the bins of Dalgety New Zealand, Ltd realised 201 c, and 12 bales in the bins of Pyne, Gould, Guinness Ltd realised 200 c.

A. N. Hope (Albury) was paid 198 c for four bales of extra-fine crossbred hogget, and 197 c was received by L. J. Norton (Crlcklewood) for five bales of hogget, and by A. G. McLaren (Hinds) for seven bales of hogget. The estate R. A. Richards (Waimate) had two lots of nine and six bales of hogget wool at 196 c, and sales at 195 c were recorded by R. Harvey (Fairlie) for six bales, by R. M. Macaulay (Mount Nessing) for six bales of hogget, and by B. J. Glass (Albury) for six bales of hogget. D. W. G. Squire (Maungati) received 180 c for six bales of second-shear crossbred wool, and Perendale wool sold to 177 c for four bales of hogget from D. G. Cunningham (Albury). A. E. Baxter (Raincliff) also had four bales of Perendale hogget at 172 c. Down cross wool made to 179 c for five bales in the bins of Dalgety New Zealand, Ltd, and sales of binned wool at 168 c were made by the same firm for 14 bales of Southdown, and by the Canterbury Farmers’ Co-opera-tive Association for nine bales of Down cross hogget. Details of catalogues in order of sale were:— Canterbury Farmers’ Cooperative Association 2578 Wrightson-NMA, Ltd 6989 Dalgety New Zealand, Ltd 3542 Pyne, Gould, Guinness Ltd 4981 Total .. .. ..18,090