Wool steady at Napier

Press, 27 May 1983, Page 3

Wool steady at Napier

PA Napier The Napier wool sale yesterday opened on a strong note but eased later, according to the official report. Good competition was seen from the Middle East,

mainly Iran, and from Eastern Europe and New Zealand carpet mills. Compared with the Timaru wool sale at Christchurch on May 13, fleece wool was unchanged, by second-shear, Jambs’ wool, and oddments were in sellers’ favour. Compared with the last Napier sale on April 21, most second-shear wool was in sellers’ favour, oddments were firm, while the limited offering of full fleece and lambs’ wool was unchanged. The 26,646 bales included 1169 bales of scoured wool and 4011 bales of Wanganui

wool sold by separation, as well as 4000 bales of Wool Board stock. The board was able to clear 90 per cent of this wool at satisfactory prices. The offering consisted of 80 per cent second-shear, most being in the shorterlength j*qnge because of the

prolonged summer drought. The balance was earlyshorn fleece and oddments. The Wool Board bid on only 0.2 per cent of the offering and bought 0.1 per cent. The adjusted weighted average sale price was 292.28 c a kilogram. Based on this, a Government supplementary payment of 9.5 per cent will apply to all wool sold at the sale and all wool sold privately from midnight on May 25 to midnight last night. The market indicator was 292 c. Official range of prices:— Second - shear, Long: Good-super 341 to 370 Good 325 t 0336 Average-good 300 to 324 Second - shear, Short Good-super — to 340 Good 301 to 330 Average-good 284 to 300 Second-shear Bellies and Pieces: Good 250 to 270 Average 230 to 240 Inferior 198 to 221 Early Shorn: Good-super — to 340 Good 290 ta.,310 . Average 265 tcf'2Bo