Wool support cut

Press, 12 October 1985, Page 3

Wool support cut

PA Dunedin The Wool Board reduced its intervention levels at the Dunedin wool sale yesterday, in a move aimed at making New Zealand’s fine wools more competitive. For buyers there were ’falls In the Merino section of 10 to 12.5 per cent, and in finer halfbreds reductions of 7.5 per cent. But in a predominately fine-wool sale, where the board could have bought most of the offering, it ended up with 37.7 per cent.

Growers will find that all prices have been supplemented to rates about the same as those ruling at recent sales, the money coming from. the growers own “minimum prices funding account” The level of supplements seems to be about oOc to $1 for Merino wool, 10c to 50c for Halfbred wools and up to about 10c for crossbred. Supplements yesterday cost growers $660,000, and the wool bought cost nearly $5 million. The market indicator was 475 c clean and 353 c greasy. The range of prices Included.— z, J Merino, 19 micron: Good to 1122. Good to average 1114. Merino, 21 micron: Good 812 to 841. Good to average 774 to 810. Merino, 22 micron: Good to average 758. „ 7 Halftred, 25 micron: Good 633. Average to good 595 to 619. Average 572 to 595. Halfbred, 27 micron: Good to 569. Good to average 541 to 558. Halfbred, 29 micron: Good to average 510 to 520. Average 487 to 501. Halfbred, 31 micron: Good 506 to 516. Good to average 506 to 512. „ J Crossbred, 33 micron: Good to average to 511. Crossbred, 35 micron: Good to 506. Good to average to 497. Average to 483. ■

Crossbred, 37 micron: Good to 503. Good to average to 498. Average to 485. Pieces Merino, 21 micron: Average to 693. Halfbred, 27/28 micron: Average 483 to 490. Crossbred, 35 micron: Average to poor to 451. Crutchlngß Halfbred, 30 micron: Average to poor 379 to 391. Crossbred, 37 micron: Average to 438. Average to poor to 420. Poor to 384.