Record N.I. price for wool

Press, 26 February 1983, Page 3

Record N.I. price for wool

PA Napier A North Island record price of 501 c a kilogram was paid at the Napier wool sale yesterday for a bale of extra-fine, quality Merino wool. ' ■ The G. Modiano woolbuying company paid the record price for the 20.7 (64/70s quality). 75.2 per cent yielding wool. The single bale lot will be sent with South Island wool to Italy where it will be made up into men's suits. The Modiano buyer, Mr Leon Horne, said the price was "reasonable for a beautiful line of well grown wool." It. was grown on a small flock of Merinos bought in the South Island by Maurice Beeby, of Crownthorpe. Generally, fleece lines were slightly dearer and all other types firm on prices set at Thursday's Dunedin sale, said the official report. A strong bench of buyers produced animated bidding. Eastern Europe and the Continent being the main buyers. Limited support came fu m Japan and China. '

The 35,000-bale offering was made up of main-shear lines of ewe wool plus a big offering of lambs wool. Much of the wool showed discoloration and dust. The Wool Board bid on 1 per cent of the offering and had 0.5 per cent passed to it. in its lowest participation of this season. The adjusted weighted average sale price was 256.83 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 on February 24 to midnight on March 1. The market indicator was 249 c. Full-length fleece: Good — to 307 Average. 255 to 269 Early-shorn: good ’ ■ —to 292 Average to good 265. to 280 Average 250 to 264 Second-shear good to 286 Average to good 250 to 27(1 Average 235 to 249 Pieces Average to good 195 to 215 Average 185 to 194