Record price for Merino wool at Chch sale

Press, 31 October 1981, Page 12

Record price for Merino wool at Chch sale

The slide in. wool values, which has been going on since the beginning of the month, was arrested to some extent at the Christchurch wool sale yesterday. Although values eased further for some types, the sale had a fairly good tone.about it and the adjusted weighted average price, at 261.36 c per kilogram, showed an improvement .of just- under three cents bn Thursday’s

Auckland sale. Prices will still be commanding a 22.4 per cent supplement from the Government and over the offering of almost 26,000 bales of Christchurch and Otago wools put up for sale yesterday it was estimated that the taxpayer could be contributing about $2.7 million to growers’ returns. In addition, many growers will also be receiving a sup-

plement of from 1c to 10c per kilogram from the Wool Board’s price stabilisation scheme. This was a reflection of the fact that about 25 per cent of the offering did not reach levels equivalent to the board’s minimum price of 250 c a kilogram. Wools in this situation comprised mainly crossbred short oddments and crutchings, but also included some fine crossbred fleece, Half-

bred crutchings. oddments and skirtings and some of the coarser Halfbred - fleece.

The sale trailed quite a long way behind the second day of the last Christchurch sale on October 2. Compared with values on that occasion Halfbred fleece was mainly, about 20c to 25c cheaper, with some of the heavier condition wools possibly showing an even bigger decline. Crossbred fleece was also back by 20c to 25c and fine to strong Merino was down by 10c to 15c.

However, Merino' wools again sold well and the sale saw the establishment of a new New Zealand record for these. Five bales of extra fine woolly hogget out of the Grassmere clip of D. L. Harcourt (Cass), of 17.5 micron fibre diameter was knocked down for 596 c per kilogram, which was five cents better than the top price recorded for Timaru wool last week.

The buyer was Mr J. T. Gillies, of G. Modiano (N.Z.), Ltd, who said the wool would be going to Genoa, in Italy, for use in a “specialised product.”Another nine bales of hogget wool from Grassmere brought from 570 c to 581 c. Compared with last week’s sale of Timaru wools at Invercargill, the extra fine, medium and strong Merino wools gained ground slightly, but the fine wools were quoted in buyers' favour. The main weight of these wools brought from about 400 c to 500 c„ with a fair sprinkling of sales over 500 c. A number of sales of large

clips were made- at very good money. These included Mesopotamia Station (Rangitata Gorge) with 77 bales making from 500 c to 540 c and another 136 bales topping 460 c; Craigieburn Station had 19 bales ranging from 501 c to 586 c and another 432 bales selling upwards from 461 c; and the Muller Station (Seddon) realised from 541 c to 559 c for 33 bales with another 84 selling over 450 c.

Merino necks and pieces on several occasions topped the 400 c mark and Merino bellies sold between 300 c and 400 c.

Compared with a year ago Merino wool was bringing about 70c to 110 c more. Halfbred wools were not quite up to Timaru rates but values were still at fairly good levels with the bulk of sales falling between about 270 c and 360 c and with a number of sales at better than 400 c.

Murchison Bros (Lake Coleridge), who had one of the best sales in this section at 495 c, sold. 32 bales between 460 c and 495 c, and Glynn Wye Station (Lewis Pass) sold 37 bales of. Halfbred wool from 419 c to 468 c. While the Halfbred wools were also still selling better than at this time, last year, the crossbred wools, bringing mainly fron about 280 c to 310 c, were closer to last year’s levels. The better length fine crossbred fleece was slightly dearer than at Auckland on Thursday and the market for the shorter length wools tended to be irregular and slightly easier. The medium and coarser

qualities showed a similar trend.

Second-shear wools, selling mainly between 260 c and 290 c, were also barely steady. The sale was again a j protracted one with selling going oh until early evening. At the end of the offering of the third catalogue of Christchurch wools the Wool Board had put in a bid on 2172 bales, or 15.2 per cent of the offering, and had 971 bales, or 6.8 per cent, sold or passed to it The sale held up well during the day, with the main buying * competition coming from Western Europe and China, with support from Eastern Europe, Japan, and local mills. The Christchurch offering comprised 20.754 bales of current season’s wool and 752 bales of Wool Board stock wools. Prior to the Christchurch sale three Otago brokers offered 4401 bales, which brought up to 494 c for Merino, 462 c for quarterbred wool, 482 c for Halfbred and 331 c for crossbred. For the finer crossbreds in the Otago selection the market moved upwards slightly compared with Auckland, but was easier for other classes.

There ’’was also an easier trend for the finer wools, with the coarser Halfbreds and Corriedales being 2 l 's per cent cheaper than at last week’s Timaru wool sale.

Apart from the Grasmere wool, which topped the market. Merino sold to 586 c for four bales of extra fine woolly hogget from F. and L. Westenra (Craigieburn). J. W. and T. J. Wadworth (Blenheim) received 581 c for four bales of fine woolly hogget. The same venodr had another four bales of medium hogget at 568 c. G. Evans (Blenheim) was paid 575 c for six bales of woollyhogget., Ramshead Run Ltd (Blenheim) received 567 c for 12 bales of fine Merino and sales at 566 c were made by A. E. van Asch (Seddon) for two bales of woolly hogget and by J. F. Cooper (Blenheim) for six bales of medium hogget. Murchison Bros (Lake Coleridge) headed the Halfbred section with 19 bales of extra fine woollyhogget selling at 495 c. Lees Valley Estate (Oxford) had eight bales of extra fine woolly hogget at 479 c and W. R. Russell and Company (Lees Valley) sold seven bales of fine woolly hogget for 478 c. The Calder Farming Company (Hawarden) had six bales of woolly hogget at 476 c and four bales of woolly hogget at 474 c. Glynn Wye Station (Lewis Pass) realised 468 c for 13 bales of Woolly hogget. Corriedale wool made to 457 c for five bales of woolly hogget from A. J. Smith (Rangiora). P. Brown (Waiau) received 440 c for

four bales of shorn Corriedale hogget. V. W. Reid (Amberley) had seven bales of woolly hogget at 434 c and Sir Robin Campbell (Scargill) sold 11 bales bf shorn hogget at 432 c. D. Reveley (Hororata) sold 13 bales of Romney two-tooth wool at 337 c and another 21 bales of Romney at 334 c. Ferniehurst Estate ’(Parnassus) received 329 c for 22 bales of shorn crossbred tiogget and C. A. McGregor (Kaikoura) sold 10 bales of shorn hogget at 328 c. P. H. Schunnk (Oxford) had another seven bales of shorn hogget at 325 c. P and D. Parkinson (Kaituna) sold 22 bales of Perendale ewe wool at 321 c and O. A. H. and N. B. Tripp (Darfield) received 320 c for nine bales of Perendale woolly hogget. For Coopworth shorn hogget J. F. Gallagher (Okuku) received 342 c for 11 bales and C. Si Stringer (Whitecliffs) realised 324 c tor 10 bales of shorn hogget. J. M. L. Dillon (Blenheim) sold 11 bales of Borderdale shorn hogget at 325 c and H. C. and J. W. Studholme (Te Pirita) realised 314 c for 14 bales of similar wool. ■ For 13 bales of Suffolk wool in the bins of Wrightson NMA, Ltd. the price was 319 c and for another seven bales of Down cross wool in the same catalogue the price was 318 c. Details of catalogues, in order of sale, were — Pyne, Gould. Guinness. Ltd. 6763 bales; Wrightson NMA. Ltd. 4774 bales: New Zealand Farmers’ Co-opera-tive Association. 3309 bales; Dalgety New Zealand. Ltd, 6660 bales; total, 21.506 bales.