Crossbred wools sell well again at Timaru

Press, 9 December 1976, Page 27

Crossbred wools sell well again at Timaru

Crossbred wools again had the best of the market when the third I imaru sale of the season was held yesterday. They sold very steadily at around the 240 c to 255 c per kilogram mark.

Since the New Zealand dollar was devalued by 7 per! cent, the market for these; wools has been edging up-! wards to recover some of th*, real money value lost in j the currency change, and this trend continued yesterday when crossbred fleece; and skirtings were again slightly dearer and oddments improved up to 2-J per cent on the most recent sale at Wanganui.

But values, even in straight •Neu Zealand currency terms, and making no allowance for devaluation were still quite a little behind the last Timaru aale in mid-October. They could have been lower by lUc to 15c looking at the general run of prices at the two sales.

With only a slight movement >n the market since last week, values for crossbreds were very similar to those ruling in Christchurch on Friday

Crossbred fleece wools made up about 40 per cent of the offering. For the finer Heece wools, which made up about 34-i per cent of the selection, the market tended to be variable

In Christchurch last week. Merino wool was considered to be slightly dearer than at the previous comparable pre-devalu-ation sale, but yesterday this class of wool tended to lose a little ground and was reckoned to be about 2 per cent cheaper although some good lines of wool from the Mackenzie Country were included

The over all result of this movement would be that Merino has lost ground fractionally in New' Zealand currency since devaluation. hi the halfbred and Corriedale category, al! wools except the fine and extra fine eased back last week. Yesterday the fine and extra-fine again had the best of the sale, and whereas last week they held their values In New Zealand money terms, yesterday they gained slightly to he in sellers’ favour. The medium halfbred and Corriedales were also steady, but the stronger sorts, which showed oulte a marked decline in Christchurch also eased back again slightly yesterday. But

halfbred skirtings were troiu par to 2| per cent dearer. The Wool Marketing Corporation was again active in support ol the weak spots in the market, operating its so-called strata price control. It lodged a bid on 1903 bales, or on 9.7 per cent of the offering of slightly more than 20,000 bales. It was bidding mainly on the • better style and finer quality Merinos and also on halfbred | fleece and skirtings. But as it had only 96 bales, or less than half a per cent of the offering, either sold or passed to it. the corporation was clearly successful in egging the trade along. In fact most ot the wool went into consumption, for passings to the trade and corporation amounted to only 392 bales, or i only 2 per cent of the selection These results were obtained although the offering fell short of the standard normally expected at this sale, both in respect of colour and soundness. Cotting, discolouration and also tenderness is now starting to show up in wools coming into the Timaru centre, and it was also noted that some of the wools in yesterday’s sale had not been well skirted and were also marred by shed stain as growers apparently rushed to get their wool into the sale following recent unsettled weather and the shearers’ strike. All crossbred wools and also{ the fine halfbreds sold under: good general competition, but the stronger halfbreds and Merinos were in a little less general demand. Eastern and Western Europe continued to provide the main, competition, with support also! from local mills and some sup-1 port from .Japan and Bradford. In spite of the various movements in the market, wool is still bringing verv good money! and the Wool Marketing Corporation announced last evening that with the adiusted weighted average price for the sale at 266.07 c oer k? the retention lew would be 6.87 per cent, which was almost identical with that fixed after the Christchurch sale last week at 6.92 per cent. The top money of the day was 282 c for 15 bales of fine Merino from Glentanner Station in the Mackenzie Country. The station had a total of 41 bales at 270 c or better and 93 bales of its fleece wools sold from 259 c up to 282 c. The Merino wools in the sale, however, sold mainlv from about 240 c to 260 c. and while at these rates they were similar to prices paid at the October sale in Timaru. they were still about 50c ahead of the same sale a year ago The fine and medium halfbreds and Corriedales sold at similar rates to those ruling in Christchurch last week, with the

liner wools bringing mainly from about 225 c to 255 c, and the ! medium qualities from about 220 c to 240 c. but the stronger quali- ; ties tailed away, in line with 1 the easing in the market, with prices being between about 200 c and 230 c. But compared with a year ago, ! the halfbreds and CorriedaTes I were bringing from 70c to 85c ; more y esterday. 1 All of the crossbreds brought 1 from about 243 c to 260 c, and at these rates were probably 10c to 15c below the last Timaru sale in October, but still 90c ; to 100 c up on prices paid for these wools in December last 1 year. Halfbred wool sold to 279 c j yesterday, Corriedale to 265 c 1 and crossbred to 272 c. Fine neck wools brought from about 220 c to 240 c. with the ( coarser wools of this description making from 233 c to 244 c; fine pieces sold from about 185 c to 210 c and crossbred pieces from 190 c to 205 c; fine belly wools ranged from about 180 c ■ to 200 c and coarser w’ools from! 195 c to 205 c; and fine crutchings sold from about 155 c to 180 c and coarser crutchings from 183 c to 204 c. For 146 bales of scoured wool, prices ranged from about 257 c to 346 c, with the top money being paid for what was described as super halfbred. Leading prices MERINO I Merino wool brought to 282 c for 15 bales of fine wool from' i Glentanner Station (Lake Pukaki). The same vendors also had : |lB bales at 272 c and eight bales! iof medium wool at 270 e. Lilybank Station (Lake lekapo). isold seven bales of fine Merino for 271 c, and sales at 270 c were : (made by Omahau partnership II Lake Pukaki). with four bales jof extralfine wool, by A. A. Innes (Black Forest) with three bales oi super-fine woolly hogget, and by Dry Creek Station (F'airlie). for 10 bales of fine Merino. The best price for halfbred wooi was 279 c for five bales of fine wool from R. A. Burnett (Mount Somers). Huxley Gorge Station (Lake Ohau), received 273 c for seven bales of medium halfbred and the same vendor also had nine bales of fine halfbred at 270 c. As well they sold 13 bales of fine and 10 bales of medium wool at 269 c. Inverary Station (Mount Somers). also had 11 bales of woolly hogget at 269 c, and this price was also received by the Mount Aitken Run Company (Waimate), for three bales of woolly hogget. Corriedale wool made to 265 c for 11 bales of fine ewe wool offered by the Wool Marketing Corporation. The Waihao Valley Station (Waimate), received 257 c for five bales of fine woolly hogget and four bales of medium woolly hogget. L. J. Waters (Burke’s Pass), sold four bales of woolly hogget at 253 c.

Crossbred wool brought to 272 c tor four bales offered by the Wool Marketing Corporation, and for three bales in the bins of Wriginson NMA Ltd. Another three bales of binned woolly hogget in the catalogue of the Canterbury Farmers’ Cooperative Association made 271 c. Sales at 269 c were made by E. K. Talbot (Timaru) for five bales of shorn hogget, and by Oakley Brothers (Cricklewood) for four bales of woolly Romney hogget. J. W. Rogers (Fairlie), realised 268 c for four bales of shorn hogget, and this price also went to N. L. Shallard (RainJiff) for 21 bales of shorn hogjet. and to A. K. Nolan (Geralline). for nine bales of shorn logget. Second-shear crossbred brought :o 265 c for five bales in the bins >f Dalgety New Zealand. Ltd.

> Wrightson NMA, Ltd, also had three bales of binned wool al , 252 c. s Perendale wool made to 261 c r for four bales of shorn hogget from P. G. Johnston (Otlpual. P. : S. McKeown (Pleasant Point), - also received 259 c for six bales . of shorn hogget. / Coopworth wool made to 264 c s for eight bales of shorn hogget / from R. S. and E. P. Wilson (Ash- ) burton), and for six bales of v shorn hogget from O. E. Parr . I Pleasant Point). f Details of catalogues (greasy > > and scoured) in order of sale - were:— - Canterbury Farmers’ Cooperative Association 3321 i Wrightson NMA Ltd . .. 7430 j Dalgety New Zealand, Ltd 3858 : Pyne Gould, Guinness, Ltd 5410, i ’ Total 20,019 .