Almost half Chch wool passed to corporation

Press, 26 August 1977, Page 17

Almost half Chch wool passed to corporation

The pattern of yesterday’s first Christchurch wool sale of the new season followed Tuesday's Timaru sale fairlv closely. “Passed to the con poration” was again the constant call of auctioneers. On many occasions when the auctioneer called a new lot number and solicited a bid at a particular figure the only response was the Wool Marketing Corporation’s intervention bid — the trade did not put in a bid at all. After a whole series of lots had been passed to the corporation in a row there was almost an element of surprise and disbelief when lhe trade came in and topped the corporation’s offer. “Thank you,” said one auctioneer when the trade came m to the market again after a spell in which they had been conspicuous by their absence. The result of all this was that the corporation had 10,418 bales passed to it, or just on 44 per cent of the offering. It is likelv to end up with most of this wool on its hands. This was more than on Tuesday, but with I the market hardly changing■ this was probably more a reflection of the composition; iif the offering than any-1 thing else. The Christchurch offering included a much higher pro-' portion of fine wools and ■ this was no doubt the factor' responsible for the corporal- i ion’s having more wool I passed to it. These wools had the worst of the market »s far as trade interest was concerned. While buyers showed a little interest in tome of the better style fine lalf-breds and Corriedales And in the stronger wools at lhe other end of the halfJreds and Corriedales, they 4/ere otherwise largely neglected. The trade seemed to be friore interested in the poojer style and cheaper wools, End it was possibly for this bason that they tended to Ake more of the cross-bred fleece with a little more Ordinary style and also iarry-over wool available in this offering. There was a reluctance on the part of the trade to pay the premiums that the corporation was prepared to offer for the better style fleece wools. Half’bred, Corriedale, and

! cross-bred fleece were all described as being unchanged in price compared with the Timaru sale. This was also the story with the half-bred and Corriedale skirtings and crutchings. IC r o s s-bred second-shear wools were, if anything, a shade better, and this was also the case with cross-bred short oddments and crutchings, but skirtings of this description were a shade easier. Indicative of the general unchanged state of the market, the adjusted weighted average price for the sale (the AWASP) was 187.45 c per kg compared with 187.82 c for the Timaru sale. Again this figure was well short of the trigger price of 215 c. With so much of the wool going to the corporation, there was something of an unreal atmosphere about the sale, but it is certain if it was not for the corporation growers would be having to take quite a lot less for a great deal of their wool. Over the whole sale the corporation put in its bids on just over 80 per cent of, the offering. This was on 19.066 bales out of slightly! under 24,000 bales. On indi-| vidual catalogues the extent! of its bidding ranged from 1 73.3 per cent to 85.5 peri cent of the wool coming forward. It started off with passings to it in the first catalogue amounting to 35.9 I per cent of the wool, andj this rose to a peak later in I the day at 48 per cent and, then declined again to 44.5! per cent. Over the whole sale the corporation had 10,428 bales, or 43.9 per cent of the selection, passed to it. The slight changes in the proportion of wool receiving support from the corporation and the amount of wool being passed to it was believed to be more a matter of the nature of the offerings than of any change in the market during the lay. On the basis of sales to 1 the trade the top price of the day was 252 c paid twice or crossbred wool. The main weight of the! halfbred and Corriedale i fleece wools going to the| trade were bringing from ’■ about 185 c to 225 c. The finer edge of these wools were i

IT ranging from about 200 c tc i- 225 c, with medium qualities d at about 190 c to 209 c anti s the stronger wools at 185 c ejto 210 c. Halfbred wool made e 1 up to 236 c and Corriedale t< ;. 234 c. ri A little Merino made frorr a 220 c to 240 c, with the besi s price being 249 c. d Crossbred fleece was sell i- ing mainly between aboui s 210 c and 235 c and second e shear wools of this type brought from about 199 c t< ■1 230 c. ’•j The coarser crutchings i were selling principally bee'tween 150 c and 176 c, with c the finer crutchings making h'from about 120 c to 145 c. ’• j Coarse bellies fetchec I [from about 150 c to 173 c anc ‘ fine bellies from about 132 c to 166 c. II For fleece wools prices l > were similar to those paid a 11 year ago, but the crutchings e and bellies were about 5c t< t 20c cheaper. t The limited trade interest 0 in the sale came mainly 1 from Eastern and Western Europe, with some support e too from Bradford and New s Zealand mills. Crossbred wool made to I 252 c for four bales of fine /Iwoolly hogget from L. V. - McGrath (Oxford), and fot t! two bales of similar wool in t'the bins of Pyne, Gould, r| Guinness Ltd. -j For six bales of fine t crossbred two-tooth wool, J. II Keenan (Diamond Harbour ) I received 245 c. Sales at 242 c J, were made by P. McMorran i j (Oxford) for five bales, and d;by R. Jenkins (Port Levy), i|for nine hales. Leebrook e Partnership (Waiau), sold 1 seven bales at 241 c, and this t price was also received by J. . D. Roberts (Methven) for s seven bales. ? D. G. and P. D. Helps - (Port Levy) sold five bales 1 of Perendale wool at 250 c. - A. C. and N. O. Earl (Little r Akaloa), received 237 c for » 15 bales, and S. D. and K. L. • Edge (Little River), obtained > 236 c for eight bales. For seven bales of threei quarterbred G. J. Beere f (Hawarden) was paid 242 c • and six bales of Border Leicester from K. A. Kidd J (Waiau) brought 240 c. T. D. • IMcGrath (Oxford), sold three ■ bales of Drysdale wool at i 226 c. - The best money for Mer- ■ ino was 249 c for 14 bales from J. Fraser Cooper Ltd (Blenheim). J. R. Todhunter and Sons (Rakaia Gorge) had five bales of two-tooth wool at 248 c, and for a further four bales they received 241 c. Quarterbred wool brought to 240 c for eight bales from Jedburgh Farm (Cheviot) and for five bales from P. L. Molineaux (Awatere). Halfbred w'ool sold to 236 c for 13 bales from J. L. Doak (Omihi). Sales at 233 c were made by N. A. Reid (Motunau), for six bales and by P. L. Molineaux for 10 bales. ' The best price for Corriedale wool was 234 c for seven bales of woolly hogget from S. J. and P. Field (Cheviot), who also had 20 bales at 231 c. D. R. Shipley (Harewood) received 232 c for six bales, and J. K. Fitzpatrick (Cheviot), sold four bales of woolly hogget at 231 c. D. S. Latter (Cheviot) also had four bales of woolly hogget at 230 c. I Second-shear crossbred wool brought to 246 c for four bales from I. L. McNabb (Cheviot). Sales at 234 c were made by Orton Bradley Park (Charteris Bay) 'for five bales, and by R. F. |G. Latter (Kaikoura), for 25 bales. J. R. Stanbury (Little River) had 16 bales at 232 c. For 18 bales of two-shear Coopworth wool, Ludley Farm (Kaikoura), realised 236 c. Another nine bales ! from J. M. Nurse (Cheviot) sold at 234 c. L. V. McGrath also had a single bale of Drysdale at 232 c. Second-shear fine wool made to 208 c for five bales of halfbred in the bins of 'Dalgety New Zealand Ltd. I Crossbred crutchings made Ito 195 c for 10 bales of strong wool in the bins of | Pyne, Gould, Guinness Ltd. L. L. Craw and Sons (Charlton), realised 189 c for four ! bales of Romney crutchings, and Langminnan Holdings (Rakaia Gorge), sold five bales at 187 c. T. W. Hutchinson (Little River) had I four bales at 186 c, and this i price also went to estate J. |T. L. Knight (Laverick’s I Bay) for four bales. C. H. Gallagher (Mayfield) sold four bales of Perendale crutchings for 182 c. Fine wool crutchings made to 164 c for three bales of! ■' halfbred from R. A. Smith i(Rangiora). W. L. Hassall (Hawarden) realised 155 c for four bales of Corriedale wool. Broomfield Estate | (Amberley) had nine hales of I Corriedale wool at 150 c. Sales at 149 c were made by A. L. Wolff (Dunsandel) for four bales of halfbred, and by D. A. Reese (Hawarden) for five bales of Corriedale. Details of catalogues in order of sale were:— Wrightson NMA, Ltd 4451 Pyne. Gould, Guinness, Ltd. 7575 Dalgety New Zealand, Ltd.' 8248 N.Z. Farmers’ Co-oper- I ative Assn 35311