Hopeful wool trend

Press, Volume CXIV, Issue 33693, 16 November 1974, Page 2

Hopeful wool trend

(N.Z. Press Association) AUCKLAND, November 15. Prices for a generally poor quality offering at the Auckland wool sale today held up remarkably well. Buyers showed interest and bidding was reasonably well spread. One prominent broker remarked: “I feel more .confident after today than I have for a long time.” In spite of the depressed economic conditions overseas, prices did not drop. In fact, where comparison was possible, some showed a very slight lift on prices paid at Dunedin. It took good wool to make more than 100 c a kilogram but the market appeared to have changed little since the last sale of Auckland wool, in Napier, in October. The average price today was 85c to 86c a kilogram, compared with 132.58 c at the November sale last year. Most of the wool sold to the trade is thought to have gone to Eastern and Western Europe; Japan was still quiet. On an offering of about 18,400 bales of ewe, hogget and second-shear wool, most of it low-yielding and of mixed length, the Wool Marketing Corporation again gave solid support under its price intervention scheme. Although the corporation bid on about half the wool offered, only about 15 per cent passed to it. Buyers frequently outbid the corporation 5c or 6c. The official report noted that because of high labour costs, combined with present low prices, many clips that were usually well prepared, had been left unskirted.

RANGE OF PR CES c. e. Medium Crossbred. 44748s: 101 to 104 Good Average 93 to 100 Foor HOGGET Fine Crossbred (shorn), 50s and 50752s: 85 to 92 Good 100 to 108 Average 95 to 99 Poor Fine Crossbred (shorn), 48750s: 87 to 94 Good 100 to 107 Average 92 to 99 Poor Early Shorn, 46750s: 84 to 91 Average 87 to 96 Poor Second-shear, (Good Length), 44/48s: 81 to 86 Good 94 to 98 Average 89 to 93 Poor Second-shear (Short), 44748s: 84 to 88 Good 88 to 93 Average 82 to 87 Poor 76 to 81 PIECES Fine Crossbred Hogget. 50s and 48750s: Average 65 to 74 Inferior BELLIES Crossbred, 56750s: 56 to 64 Average 63 to 68 Inferior S3 to 62 SECOND SHEAR BELLIES, PIECES Crossbred, 46750s: Average 49 to 55 Inferior 42 to 47 CRUTCHINGS Crossbred, 44748s: Good 64 to 70 Average 60 to 63 Inferior Second Crossbred: 52 to 59 Average 50 to 59 Inferior 42 to 48