Prices remain steady at Invercargill wool sale

Press, 1 February 1983, Page 12

Prices remain steady at Invercargill wool sale

Wool prices were mostly steady on those of last week when 20.678 bales of Invercargill woo] were sold byseparation at Christchurch yesterday. The offering was mainly crossbred fleece wool, with a few lots of lamb fleece. The wools opened up showing continued good colour for December and January shorn wools, but the later lots deteriorated in colour because of the wetter conditions experienced in January. The lambs wool was generally well picked. The competition was general and well spread, with a good bidding tone. Western Europe and Eastern Europe were principal buyers.

The market, compared with the Auckland sale of January 28. can be described as:— Medium crossbred: B style, inclined in sellers’ favour: B C style, inclined in buyers' favour. Strong crossbred: B and B C style, buyers' favour; C style,’ firm. Crossbred lambs: Firm. The Wool Board gave moderate support to the market by bidding on 3814 bales. 18.6 per cent of the offering and having 1371 bales. 6.7 per cent, sold or passed to it. The market indicator was 233. Prompt date for this sale is February 18. The adjusted weighted

average sale, price w r as 256.75 c a kilogram. Based on this, a Government supplementary payment of 24.6 per cent will apply to all wool sold at the sale and all wool sold privately from midnight, January 30. to midnight. February 2. Ewe fleece. higher yielding Good io -W6 Average 284 to 299 Poor 265 to 279 Lower yielding: Good' to 290 Average 268 to 278 Poor 253 to 267 Lambs wool 2tn-3in: Good 276 to 282 Average 266 to 280 2in: Good 260 to 267 Average 248 to 259