Modest revival in wool prices

Press, 12 May 1984, Page 16

Modest revival in wool prices

Christchurch wool led a modest revival in auction prices at yesterday’s combined Christchurch, Timaru, and Southland wool sale, held in Christchurch. In the Christchurch section of the sale, most descriptions gained about 2.5 per cent on values at recent sales. In the morning, the Timaru offering had resulted in market quotations which were generally in sellers’ favour so the Christchurch quotations indicated a firming tendency during the day. The sale contained a sizeable section of Wool Board stock wool which, although much of it was over three years old, cleared substantially to the trade. Details of the market quotations are contained in the accompanying official reports, but in summary of the Christchurch section all types were up 2.5 per cent except medium Halfbred fleece which was in buyers’ favour. The auction was a typical end-of-season clearance sale, with very little fine wools and a big weighting of brokers’ combined, various, and binned lots. As has been the case in recent Christchurch sales, brokers had a firm idea of what they and their clients expected in the way of price and many lots were passed in. The late shearing Corriedale wools in particular often failed to meet reserves, with vendors obvi-

ously prepared to hang on in the expectation of better prices. Late in the day 12 lots in a row, mostly Corriedale, were passed and the thirteenth, which sold, brought an ironic cheer from the buyers. As the end of the selling season approaches, a review of the market during the last year discloses that it has never really attained the heights expected. Many hoped that supplementary prices would become no longer necessary — when the indicator was at 320 c per kilogram — but that mark was not reached. The adjusted weighted average sale price of yesterday’s sale was 301.72 c a kilogram. Based on this, a Government supplementary payment of 6.1 per cent will apply to all wool sold at the sale and all wool sold privately from midnight, May 10 to midnight, May 17. The market indicator was 301 c. Several lots of Merino wool from the bins of the three wool brokers sold for more than 500 c in the Christchurch section. Two bales of fine Merino from Wrightson NMA made 600 c, four bales of fine from Pyne, Gould, Guinness, sold at 560 c, and two bales of medium from Wrightson NMA made 551 c. Five bales of fine merino from the bins of Dalgety Crown sold at 521 c and three bales of medium from the same firm made 536 c. L. E. Fairhall, Wairau Valley, received 410 c for

five bales of fine Halfbred. Eight bales of Corriedale woolly hogget from R. E. McMillan, Amberley, sold for 421 c and two bales of fine Corriedale from J. C. Brooker, Kirwee, made 390 c. G. N. Dalzell, Culverden, received 382 c for 11 bales of woolly hogget, S. O. Irwin, Cheviot, 389 c for seven bales of fine, D. F. Johns, Culverden, 382 c for 11 bales of woolly hogget and Hui Hui Farm, Hawarden, 381 c for 14 bales of medium. Two vendors sold Corriedale wool at 380 c, P. J. Roberts, Waikari, for 10 bales of fine, and N. T. Ross, Ashburton, for five bales of woolly hogget. Fourteen bales of Romney four-tooth wool from Langminnan Holdings, Hororata, sold at 370 c, and Moore Barton, Ltd, Rangiora, received 366 c for nine bales of Romney cross woolly hogget. N. C. Holmes, Rakaia, sold six bales of crossbred woolly hogget at 364 c and Sherwood Parnership, Waiau, 13 bales of fine crossbred at 353. Medium Perendale wool from an undisclosed vendor sold at 367 c (10 bales), G. V. Maginness, Kaituna, sold 14 bales of Perendale at 352 c, and S. and C. McLeod, Whataroa, received 350 c for six bales of woolly hogget. A. M. Seaton, Aylesbury, was paid 385 c for four bales of Border-Merino woolly hogget and G. and B. Flintoft, Waiau, 374 c for 10 bales of Borderdale woolly hogget. A various lot of Perendale extra fine lambs’ wool from Wrightson NMA sold for 387 c and two other lots of similar description from Wrightson NMA’s bins made 375 c (seven bales) and 367 c (10 bales). R. G. Palmer, Springs Junction, sold nine bales of Perendale lambs’ wool at 371 c, Flora Downs Farm, Sheffield, eight bales of Romney cross at 365 c and H. R. Hammond, Culverden, 11 bales of Romney at 364 c. A price of 361 c was paid for 15 bales of crossbred lambs’ wool from C. A. Croft, Culverden, Fenderlyn Farm, Aylesbury, received 357 c for 14 bales of fine crossbred lambs’ and R. M. F. Robinson, Rangiora, 359 c for six bales of Perendale. Other sales of lambs’ wool included M. A. Maw, Methven, 355 c for five bales of Perendale, and W. and A.

Gray, Fox Glacier, 354 c for 12 bales of Perendale. Five bales of Corriedale lambs’ wool made 369 c for Clarendon Farm, Ashburton, and 14 bales of Corriedale from Fechney Partnership, Darfield, sold at 358 c. Two bales of Merino lambs’ wool made 450 c and six bales of Halfbred made 375 c for Mrs A. P. Bennett, Rangiora, 10 bales of three-quarter-bred from Pyne, Gould, Guinness’ bins sold at 370 c, and 20 bales of Border-Corriedale in a combined lot from Wrightson N.M.A. made 357 c. D. W. and O. J. Calder, Littler River, sold eight bales of Perendale secondshear at 374 c, S. G. Holland, Ltd, Greta Valley, received 370 c (10 bales) and 367 c (13 bales) for strong crossbred second-shear, and K. and N. Thelning, Le Bons Bay, were paid 364 c for 11 bales of crossbred. Fifteen bales of Perendale second-shear from the Lands and Survey Department, Kapitea Creek, Hokitika, made 361 c, a combined lot of 11 bales of Romney from Wrightson N.M.A. made 379 c and 10 bales of crossbred from the bins of Pyne, Gould, Guinness, sold at 366 c. The order of the Christchurch sale was Pyne, Gould, Guinness, Ltd, 2281 bales, 239 lots; Wrightson N.M.A., Ltd, 4627 bales, 419 lots; Dalgety Crown, Ltd, 3333 bales, 364 lots. Total, 10,241 bales, 1022 lots. Leading prices in the Timaru catalogues included J. A. Guerin, Burkes Pass, who received 493 c for five bales of fine Halfbred, 462 c for seven bales of medium, and 434 c for 22 bales of Halfbred. D. T. Lowe and Company, Ashburton, sold 27 bales of extra fine Halfbred at 456 c, 25 bales of fine at 422 c and 18 bales at 400 c, and Haldon station, Fairlie, sold 12 bales of fine Halfbred shorn hogget at 449 c and four bales of extra fine at 416 c. Seven bales of medium Merino from J. R. Innes, Waiohunga, made 490 c. D. J. and I. K. McLean, Kurow, sold 17 bales of crossbred at 360 c, P. D. White, Timaru, received 349 c for four bales of crossbred, and Mrs I. M. Butler, Maungati, sold five bales of Border Leicester-Romney cross at 352 c. Fine Perendale shorn hogget wool from P. S. McKeown, Pleasant Point, made 328 c (six bales), F. H.

Coles and Son, Otaio, received 346 c for four bales of two-tooth, and eight bales of similar description from A. A. and B. E. Turner. Geraldine, made 328 c. Forty bales of Coopworth from L. L. and N. L. Doyle, Ashburton, sold at 345 c, and 26 bales from B. R. Petrie, Ashburton, made 339 c. Several good sales of lambs’ wool were recorded. Among these were 372 c for five bales of Perendale from J. Rodgers and Son, Mayfield; 367 c for 16 bales of Coop worth from K. L. McConnell and Son, Ashburton; 365 c for 12 bales of Romney from W. Sinclair Junior, Oamaru; and 363 c for B. J. Palmer, Rangitata (four bales of fine crossbred) and J. M. Satterthwaite, Maungati (six bales of Perendale). Peter Hudson, Ltd, Otaio, received 362 c for 16 bales of Perendale lambs’ wool, J. Caird, Southburn, 360 c for six bales of Perendale, and two vendors were paid 359 c — A. J. Gibson, Herbert for four bales of fine crossbred, and K. L. McConnell and Son, for 10 bales of Romney. Other lambs’ wool sales included five bales of Romney from F. H. Coles and Son, Otaio, at 355 c, nine bales of crossbred from J. Mallinson, Geraldine, at 353 c, and eight bales of fine crossbred from K. B. Cooper and Son, Four Peaks, at 353 c. Grant Brothers, Geraldine, sold six bales of Corriedale lambs’ wool at 365 c and five bales of Borderdale at 349 c. J. A. Langdon, Ashburton, received 351 c for five bales of Borderdale. Ten bales of Romney second-shear from J. J. Ford, Maungati, made 366 c, four bales of strong Coopworth from R. G. Metcalf, Geraldine, made 385 c and K. P. Scannell, Waitawa, received 359 c for 14 bales of crossbred. Other secondshear prices included 358 c for 11 bales of Coopworth two-tooth from L. L. and N. L. Doyle, Ashburton, 357 c for five bales of crossbred from R. Salt, Ashwick Flat, 349 c for 18 bales of crossbred from A. K. Nolan, Geraldine, and 348 c for 13 bales of Perendale sold by Belmont Partnership, Cave. The order of the sale for the Timaru section was Pyne, Gould, Guinness, Ltd, 2099 bales, 221 lots; Dalgety Crown, Ltd, 5326 bales, 441 lots; Wrightson N.M.A., Ltd, 3853 bales, 363 lots. Total Timaru offering was 11,278 bales, and 1025 lots.