Timaru wool market shows useful rise

Press, 21 May 1981, Page 22

Timaru wool market shows useful rise

Mid and South Canterbury and North Otago growers who had wool in the Timaru sale, which was held in Christchurch yesterday, struck a good day. Values for most classes of wool appreciated. For crossbred wools, which predominated in the selection, values were up to 5 per cent dearer for the finer edge of the lambs’ wool and up to 2% per cent dearer for the second-shear wools between 50mm and 100 mm and 75mm and 100 mm in length and for coarse coats. Other crossbred wools were from firm to dearer.

The Halfbred and Corriedale wools, which were not strongly represented, were also estimated to be from firm to dearer.

The market tended upwards during the sale. • A factor in the stronger market could have been the short offering ' — down by about. 5500 bales on that set down for the sale — and also the prospect of offerings well short of rostered figures for the forthcoming Invercargill and Dunedin auctions. It was. because of the reduced offering for yester-

day’s sale — 12,485 bales — that the sale was transferred to Christchurch, where a local offering will be put up today. An indication of the better tone of the market, sound full crossbred combing fleece was bringing about 17c per kg better in the grease than at the last Timaru sale on March 19.

The adjusted weighted average price for the sale was at a healthy 254.75 c per kg, having moved up from 250.83 c at the last New Zealand sales on May 8 and well ahead of the 247.13 c calculated for the second day of the two-day sale in Christchurch last month. A reflection also of the improved trend, the Wool Board’s support of the market declined. Yesterday the board still put in a bid on about 34 per cent of the wool, but it had only 8.7 per cent of the offering or 1084 bales sold or passed to it. This compared with 18.7 per cent on the final day of the last sale in Christchurch and 29.8 per cent passed or sold to the board at the final Timaru sale last year when the adjusted weighted average price, which puts every sale on an equivalent basis, was 242.19 c. The board was bidding yesterday on crossbred clothing oddments, poorer style Halfbred fleece, poorerH alfbred second-shear wool and Halfbred and crossbred second lambs’ wool.

With values moving up much more wool topped the 300 c mark. Halfbred fleece and crossbred second-shear were quite often in this price bracket.

There was oply a handful of Merino wool in the offering and for the better style wools prices ranged up to 416 c. which was the top price of the day. Halfbred fleece made to 320 c, with the bulk of the Half bred and Corriedale wool selling from about 250 c to 280 c. Crossbred wool reached. to 310 c and these wools were traded mainly between about 260 c and 285 c. The second-shear wools sold to 314 c and brought mainly from about 268 c to 290 c.

Buyers were prepared to pay a premium of about 4c per kg for lustrous wools at the coarse end of the crossbred fleece.

Lambs’ wool was selling mainly from about 247 c to 272 c for the finer wools and from 280 c to 282 c for the crossbred wools.

. In the-strong market the main competition came from Eastern and Western Europe and the Middle East, with support form New Zealand Two bales of Merino in the bins of Pyne, Gould, Guinness Ltd headed the sale at 416 c. Other binned wool brought 410 c for five bales offered by Dalgety New Zealand, Ltd, 405 c for four baeles offered by Wrightson NMA, Ltd, and 401 c for two bales in the catalogue of the Canterbury Farmers’ Cooperative Association. • Twenty-nine bales of fine Halfbred wether wool from J. A. Guerin (Fairlie) sold for 320 c and the same vendor received 305 c for another seven bales of extra fine wether wool. Four bales of Halfbred wool in the bins of Wrightsons also realised 316 c

and A. G. Gibson (OamaSW received 311 c for 13 Sixteen bales of crossbrM . wool from S. J, Westo^- 1 (Ikawai) sold for 310 c pK'; bales of Romney wool Coles and Son paid 307 c. T. J. (Ashburton) sold 16 crossbred shorn hottetW 302 c and C. A. sW| (Timaru) received 300 c fo r >< bales of medium crosshw ■ For 14 bales of sSj shear crossbred wool ; G. S. Girvan (Fairlie) price was 314 c. Another bales m the catalogued Wrightson NMA brouW 313 c, a combined offeringW 12 bales in the catalogue 6I the Farmers’ sold for 3> ' and Dalgetys had 26 bales Si? their bins which sold fof^ : 310 c. Four bales of Down cross " wool in the bins of (k e Farmers’ sold for 312 c anhW Daalgetys received 303 c for 16 bales of Down cross in their bins. For 23 bales of Coopworth ? wool from L. L. and N L-ft Doyle (Ashburton) the price was 298 c and for another 30 bales from the same grower’s ; 296 c. ' ’ Eight bales of Coopworth 7 lambs’ wool from 8. J. West- -• garth (Ikawai) sold for 304 c and for five bales of crossbred lambs’ wool D. Gray n (Cave) received 300 c. >L?i3 Details of catalogues order of sale were:— Wright-. ’■ son NMA, Ltd, 3629 balesPyne, Gould, Guinness'Ltd’ ? 3215; Canterbury Farmers’ Co-operative Association 1 3120; Dalgety New Zealand, . Ltd, 2591; total, 12,555 bales including 70 bales of scoured wool. -