Russian buying keeps wool prices steady

Press, 22 February 1980, Page 3

Russian buying keeps wool prices steady

pA Auckland Whatever the Russians might be doing in Afghanistan, they, are still bu y ir “2 New Zealand wool, and in sufficient quantity to keep prices up and the economy from foundering. Russian buying was pronounced at a lively auction at Auckland yesterday whose prices were broadly comparable with the high level at recent sales at Invercargill and Wellington. With shipments to the Soviet Union during the first six months of this season well up compared with the corresponding period last year —• 137,531 bales compared with 102,199 — it is almost certain that the Soviet Union will again emerge as one. of the biggest buyers Of New Zealand-wool. With Russia again showing interest in New Zealand meat it seems that recent New Zealand moves on the diplomatic and political front are not having undue influence on trade. Competition yesterday was well spread, the principal buying strength coming from Eastern Europe, with good support from the Continent and Japan, and to a lesser degree, the Far East. The market was unchanged on Invercargill rates for fleece. Second-shear and lambs" wool, compared with the Wellington “sale by separation” on February 12, were in buyers’ favour, while clothing oddments were up to 2.5 per cent easier.

Second-shear wool shorn in the late spring or in the early autumn made up more than half the offering yesterday of 26,611 bales. For that category of wool, prices were quoted as fully 2.5 per cent dearer than at the last big Auckland sale on January 10. The adjusted weighted average selling price was 267 c a kilogram. Neither supplementation nor retention was needed. Official range of prices Crossbred fleece, 44/

48s and 46/50S: Good 293 to 303 Good average 282 to 292 Average 271 to 281 Crossbred, secondshear, long. 44/ 48s and 46/80s: 300 to 314 Good Good average 289 to 299 Average 278 to 288 Crossbred, secondshear, long, 44/ 48s and 46/50s: 284 to 294 Good Good average 271 to 281 Average Crossbred, second260 to 270 shear, short, 44/ 48s and 46/50S: 295 to 305 Good Good average 284 to 294 Average 274 to 233 Crossbred, secondshear, 44/48s and 46/oOs: 273 to 283 Good Good average 262 to 272 Average 251 to 261 Fine Crossbred, first lambs, 50s and 50/56s: 298 to 310 Good to super Good to average .. 287 to 297 Average .. •. Poor to average .. Fine Crossbred, 276 to 286 265 to 275 second Iambs. 48/ 50s and 50/56s: • • • Average 242 to 253 Poor to average .. 230 to 241 Poor 217 to 229 Crossbred bellies and pieces, 44/48s and 46/50s: 204 to 217Poor to average ..