Wool prices up at Chch sale

Press, 12 February 1982, Page 10

Wool prices up at Chch sale

Prices for fine crossbred lambs' wool moved ahead strongly at a combined Christchurch and Invercargill wool sale in Christchurch yesterday, and Halfbred fleece wool continued a strong upward movement evident at the Timaru sale last Friday. Fine crossbred lambs' wool was quoted at fully 2.5 per cent dearer, or between 7 and 10c a kilogram more.

Halfbred fleece wool reached prices 2.5 to 3 per cent dearer than the combined Timaru and Dunedin sale last week. The Halfbred fleece wool sold at Timaru was up to 2.5 per cent dearer than the same description sold at the Christchurch - Invercargill sale in Christchurch on February 1.

This means that since the last Christchurch sale on Monday last week Halfbreed fleece wool has increased in price by over 5 per cent, or around 20c a kilogram. Some 17 per cent of the Christchurch part of yesterday’s offering was Halfbred fleece wool.

Apart from the welcome continued movement in Halfbred fleece wool prices the strong buying pressure was yesterday most evident in the fine crossbred lambs’ wool lots, with some outstanding individual prices being registered. Top price in this description was 347 c a kilogram for 13 bales of crossbred lambs’ wool in a various lot from Dalgety New Zealand, Ltd. This is 50c a kilogram, or 15.8 per cent, dearer than the top price for crossbred lambs’ wool, a Perendale lot, at the last Christchurch sale. It is a substantial 77c a kilogram, or 28.5 per cent better than the top price for crossbred lambs’ wool at the last big sale in Christchurch, on January 22. It was certainly evident at yesterday’s sale that the lamb wool clip is displacing the fine wool clip in Christchurch sales, as is to be expected at this time of the season. The crossbred lambs’ wool demand was only strongly evident at the fine end of the description, however, and the official quote for coarse crossbred lambs’ wool was “erratic, and up to 2.5 per cent cheaper.” The only other categories to register good rises were Halfbred skirtings (necks and pieces) which were quoted at nominally 5.5 to 7 per cent dearer and poorer styles of crossbred fleece which were up to 1.5 per cent dearer.

The general quotation for crossbred fleece was in sellers' favour and it was the same quotation for crossbred second shear. Crossbred fleece wool made up 43 per cent of the Christchurch offering and second shear 9 per cent. There was 7 per cent skirtings and clothing oddments.

Activity by the Wool Board was very limited at the sale. The board bid on 63 lots. 1062 bales or 10.7 per cent.

It bought or had passed to it only one per cent of the offering. Its activity was more pronounced in the Invercargill section of the sale where it bid on 15.8 per cent and had passed to it or bought 4.3 per cent.’ 4 Market sources said yesterday that the strong demand for fine crossbred lambs' wool and Halfbred fleece wool was probably due to the need to cover forward commitments on the part of buyers.'

The prices for Australian fine wools are going up and buyers have been receiving increased orders for New Zealand wool. The Wool Board has advised that the adjusted weighted Average sale price (A.W.A.S.P.) for the combined sale was 258.23 c.

This A.W.A.S.P. gives a 23.9 per cent government supplement which will apply to all wool sold at the sale or privately from midnight February 10 to midnight February 11. The market indicator was 254 c and the Wool Board’s supplement was payable on crossbred lambs’ wool, crossbred clothing oddments and some of the crossbred fleece wool. Prices for crossbred and fine lambs’ wool regularly exceeded 300 c a kilogram. A various lot of 13 bales of crossbred lambs' wool from the catalogue of Dalgety New Zealand, Ltd, was sold for 347 c and a various lot of 15 bales from the same catalogue reached 343 c. Twelve bales of fine crossbred lambs’ wool from T. F. Davison (Culverden) sold for 340 c and a combined lot of 17 bales from Pyne, Gould, Guiness, Ltd, of Perendale lambs' wool sold for 320 c. '.

For 21 bales of Halfbred lambs’ wool, the Foxdown Partnership (Scargill) received 336 c. Two combined lots of 23 and 13 bales of Borderdale iambs' wool from P.G.G. sold for 328 c and 318 c and M. J. Pascoe (Nelson) received 326 c for 12 bales of fine Perendale lambs' wool. Ten bales of Corriedale lambs' wool from I. M. Ferguson (Hawarden) and a combined lot of 19 bales of Corriedale lambs'

wool from the catalogue of •Wrightson N.M.A.. Ltd. reached 315 c and 27 bales of Corriedale wool from the Lands and Survey Department (Tiromoana) sold for 312 c.

P. R. and S. R. Harris (Waiau) sold 10 bales of three-quarter-bred lambs' wool at 316 c. For 10 bales of Halfbred wool. T. and J. Barrett (Lewis Pass), received 392 c and ,N. A. Reid (Motunau) sold 11 bales of Halfbred woolly hogget wool for 355 c.

G. A. Heard and Son (Kaikoura)-sold 12 bales of Halfbred shorn hogget wool for 354 c and A. C. H. Weavers (Oxford) received 352 c for 10 bales of fine Halfbred wool. Eleven bales of Merino wool from E. W. Rentoul (Wairau Valley) sold for 476 c and 17 bales of Merino wool from the same vendor reached 470 c. J. G. and D. A. Crawford (Oxford) sold 10 bales of fine Merino wool for 448 c.

Crossbred shorn hogget wool reached 334 c for 10 bales from D.S.A. Bates (Glenroy). Mrs V. M. Tuanui (Chatham Islands) sold 14 bales of fine crossbred shorn hogget wool for 332 c and B. M. Inch (Oxford) received 320 c for 12 bales of fine crossbred shorn hogget wool. I. C. McMillan (Amberley) sold 12 bales ot medium crossbred wool at 318 c and the Lands and Survey Department (Ahaura) received 318 c for 15 bales of crossbred shorn hogget wool. The top price in the Corriedale section was obtained by an undisclosed vendor who sold nine bales of fine wool for 377 c and 11 bales of strong wool for 363 c. The Clifton Farming Group (Waiau) sold 11 bales of 348 c and D. L. Wright (Waiau) received 345 c for nine bales of fine wool.

A price of 341 c was obtained for 12 bales of medium Corriedale wool from Miss L. Dalzell (Culverden) and 19 bales of fine Corriedale wool from the Windale Trust (Ashburton). B. A. Barnes (Cheviot) sold 11 bales of fine Borderdaie wool for 319 c and nine bales for 315 c. P. R. Jebson (Sheffield) received 310 c for 11 bales of Borderdale shorn hogget wool, and W. D. Graydon (Oxford) sold 17 bales at 306 c.

Coopworth wool made to 282 c for 30 bales from A. J. and R. A. Willis (Methven) and the Birch Hill Station (Rangiora) sold 42 bales of Perendale wool at 313 c. A various lot of 12 bales of second shear Corriedale wool from the Dalgety catalogue sold for 304 c and 10 bales of second shear Corriedale wool from the Winterslow Station (Methven) sold at 297 c. J. and B. Liddell (Greymouth) received 290 c for 10 bales of second shear crossbred wool.

The details of the catalogues were: Invercargill brokers, 11,265 bales: Christchurch; N.Z. Farmers Co-op Association, Ltd, 1130 bales. 68 lots; Dalgety New Zealand. Ltd. 3648 bales. 233 lots; Wrightson N.M.A., Ltd, 2235 bales. 132 lots Pyne. Gould, Guiness. Ltd, 2976 bales, 165 lots; Total 21,254 bales. To<al Christchurch offering. 9989 EJes.

The next sale in Christchurch will be on March 3.