More fine wool sold to trade at Chch sale

Press, Volume CXV, Issue 33779, 27 February 1975, Page 19

More fine wool sold to trade at Chch sale

A pleasing feature of the sixth Christchurch wool sale of the season yesterday was the improved inquiry from the trade for finer wools.

.The bulk of the finer-wool . section consisted of medium to extra- ’ strong halfbred and Corriedale wools, j which might have made up about half * the total selection. The trade took up about half of these. ■

Prices for these wools were, in fact, not greatly different from those lately ruling at Timaru, but they advanced fractionally and just enough to get the trade into the market. They were officially: quoted as being from par to In sellers’ favour. Crossbred wools continued to meet a steady inquiry. Few of these wools fell into the hands of the Wool Marketing Corporation — they were inclined to be up again on the rates paid at Wellington last week. But with trade and corporation virtually sharing the medium to extra-strong halfbred and Corriedale wools,: the corporation still ended the day with 6157 bales; passed to its bid. or 21.4 per; cent of the offering of 28,451 1 bales. This was a big improve-' ment on the last sale in Christchurch on January 20 and 22, when more than 23.000 bales, or some 56.4 per cent of that offering,■ were passed or sold to the corporation. According to trade sources, the increased quantity of wool going to the trade will be to fill sales already made for forward delivery. STOCKS LOW? Some people close to the trade feel that the only possible reasons for the rather better tone of the market now—at least in respect of demand—can be that stocks are low as a result of hand-to-mouth purchases in recent months, and that the stage has been reached where purchases must be made, as the season is w’ell advanced. The sale began on a happier note with 27 lots sold before one was passed to the corporation’s bid. But as an indication that the market had really not moved up very far. the trade frequently bought wool at only a cent or two above the corporation’s buying-in levels. In the first catalogue,,the corporation put in a bid on 66 per cent of the wool and had It’.l per cent passed to it. In the remaining three catalogues, it put in fewer bids and on one catalogue registered its bid on just over 50 per cent of the wool. Passings to it also dropped to as little as 18.8 per cent at one stage, but in the final catalogue they increased to 26.2 per cent. Early estimates of the average price for the day put the figure at slightly below or slightly above the average last; month of about 95c, when the, corporation was still operating a buying-in price giving an overall average of about 93c a kilogram. NOT MUCH CHANGE For both halfbred and crossbred fleece wools, values yesterday were not very different from those ruling at the last Christchurch sale. The bulk of the fine halfbred and Corriedale sold from about 108 c to 127 c, with medium qualities making from 99c to 112 c and the stronger types from 90c to 100 c. But there was a premium for some of the better-style halfbred wools, and these made up to 146 c. with a number of sales at 130 c or better. Corriedale wool made to 136 c. Merino wools were not offered in any quantity but were considered to be selling unchanged at recent improved rates. These made mainly from 135 c to 160 c, with one sale at 167 c,

In contrast to other fleeced wools, these looked to be 5c to; 10c in advance of late Christchurch rates, reflecting the recent appreciation of the market' for these wools, The main weight of fine cross-1 bred fleece sold from 95c to 102 c. ■ medium qualities mainly from 94c to 99c. and the coarser types from about 95c to 98c. There was a notable sale, among these wools of 26 bales, from K. J. and H. W. Dalglish: . <Le Bons Bay), which brought from 111 c to 115 c. These wools; 1 were described as being of mag-i nificent stvle and of extremely j I gO'xi length. Crossbred second-shear wools were up to 2| per cent dearer on last week's Wellington sale,; and brought from about 84c to; 91c But all these wools, both fine and coarse were still w’ell be-i hind values of a year ago,; although at that stage the market was starting to sag. Yester- , day. Merino was still about 75c cheaper, halfbred and Corriedale lower by 60c to 77c, and cross- , i bred cheaper by 34c to 58c. SUPPLEMENTS >1 However, the prices referred ■' to so far are those paid in the I sale room. Many vendors will receive a supplement to bring the :prices paid at auction up to the, i new minimum floor level basedl i on a 93c a kilogram average. Tn | some cases supplements will be quite substantial. It is believed that most of the; '• i halfbred fleece and skirtings will i ,; qualify for. such a payment, and ' also a fair share of the cross ) bred fleece, , Halfbred skirtings were from I par to in sellers’ favour yester- ■ day. and crossbred skirtings and :; oddments were in sellers’ favour. Fine-wool necks brought from i 92c to 125 c. with the coarser sorts ranging from 86c to 95"; jflne pieces sold mainly from 74c to 112 c. and coarser types from :|72c to 79c; fine bellies sold be--'tween about 64c and 102 c. and :j coarse bellies from 60c to 70c; >|and fine crutchings sold from 56c t|to 62c. and crossbred crutchings f-from 66c to 75c. i The wool for the sale came -! mainly from Canterbury and . Marlborough with contributions

also from Nelson, the West Coast, :• and the Chatham Islands. For this time of the year, the stand- , ard of the wool was the best for a number of years. It was gen- ■ erally very well grown, but there, was more tenderness and colour showing than in earlier sales. Competition for the wool came; mainly from the Continent and 1 Eastern Europe, with some support from Canterbury mills and limited interest from Japan. LEADING SALES The top price of the sale was 167 c for five bales of fine Merino in the bins of Wrightson NMA. J Ltd. 11. B. Johnston (Feildingi received 164 c for six bales of extra-fine wool and the Summer-, lands Company (Blenheim) sold eight bales of fine Merino at 161 c. Tyntesfield Station (Bien-, ; helm• realised 160 c for 23 bales; of Merino, and in all sold 42' bales which ranged from 150 c to: 160 c. A sale at 158 c was recorded by J. R. Todhunter and Sons ißakaia Gorge) for seven bales of fine wool, and 157 c was received by I. G. Hamilton (Awatere), for five bales of fine ewe wool. ' Four bales of come-back wool ’ in the bins of Dalgety New Zealand. Ltd. realised 136 c. Half bred wool sold to 146 c for ■ six bales of fine wool from W. N. ■ Nell (Hororata). Four bales in the bins of Pyne. Gould. Guinness Ltd, also bought 144 c. Richmond Brook Station (Seddon) received 142 c for four bales of fine shorn hogget. M. Harper (Lees Valley) sold six bales of woolly hogget at 133 c. which price was also received by W. R. and C. O. Russell (Oxford) for four bales! of extra-fine wool. CORRIEDALE WOOL Tyntesfield Station topped thej j Corriedale section, four bales of | its fine shorn hogget making I 136 c. Seven bales of woolly hog-, get from J. F. G. Blakely and: Son (Waikari) made 134 c. These i ! vendors also received 128 c for '2O bales of Corriedale wool. The ! latter price was also received by D. S. Morris (Cheviot) for nine bales of fine Corriedale and also I by B. W. and P. F. Dixon (Swannanoa) for six bales of fine wool. Seven bales of extra-fine wool sold on account of an association of Polwarth breeders realised 145 c, and they sold another nine bales at 131 c. Crossbred wool made to 115 c; for seven bales from K. J. and H. W. Dalglish <Le Bons Bay), who also sold 10 bales at 114 c. five bales at 113 c. and four bales of shorn hogget at 111 c. Kinross Holdings Ltd. realised U2c for 10 bales of fine crossbred woolly hogget. J. B Morrow. Ltd (Montalto) also received 109 c for 25 bales of Romney ewe wool. Perendale wool brought to 106 c for six bales of fine shorn

: hogget from A. G. and M. Young I (Rai Valley), and another six bales in the bins of Pyne. Gould.Guinness Ltd. Second-shear crossbred wool sold to 99£c for seven bales from? J the Estate G. H. Dalglish (Le! Bons Bay). D. C. Parkes and Son. ' :Ltd 'Wakefield), also had 14 bales at 97Jc. Fine second-shear wool made to 106 c for four bales in the: .bins of Wrightson NMA. Ltd. LAMBS' WOOL ( : Fine lambs' wool realised to i jlllc for five bales of halfbred i j from the Summerlands Company. For five bales of Corriedaie ..lambs' wool, Queenfield Farm. I Ltd (Waiau). received 101 c. One bale of Drysdale lambs' Jslipe wool offered for Canterbury [I Frozen Meat Company pools ’ realised 109 c and crossbred lambs’ wool made to 99c for 10 bales in the bins of Wrightson [ NMA, Ltd. K. J. and H. W. Dal- > glish also sold three bales of . crossbred lambs’ wool at 97Ac. Details of catalogues in order of sale were: Bales Pyne Gould. Guinness Ltd 7864 Wrightson NMA. Ltd 6431 ■ N.Z. Farmers’ Co-op. Association. Ltd 57(W 1 Dalgety New Zealand Ltd 8372 Total 28.451 i There were also 183 bales of 1 slipe wool in the catalogue of ■ Wrightson NMA, Ltd ) i