Encouraging increase in wool prices

Press, 21 December 1985, Page 29

Encouraging increase in wool prices

The weakening value of the New Zealand dollar continued to have an encouraging effect for growers on prices at the Christchurch and Timaru combined wool sale in Christchurch yesterday.

The market indicator rose to 483 c clean and 359 c greasy, a jump of 41c clean and 30c greasy compared with the previous Christchurch sale earlier this month.

Prices for fine wools are starting to approach the levels set early in the season, before the value of the New Zealand dollar rose.

Fine wool prices were generally 5 to 7.5 per cent dearer compared with the Dunedin sale on December 13. Crossbred prices were mostly 2.5 per cent cheaper than Thursday's Invercargill sale, but this was attributed to a difference in wool quality rather than an easing in demand. The Invercargill wools were in very good order, but many of the Timaru crossbreds and some of the Christchurch crossbreds were showing the effects of the drought. The slightly lower crossbred prices .contributed to an easing in the market indicator set at the Invercargill sale of 491 c clean and 365 c greasy.

Another encouraging feature of the sale was the strong interest from wool S-ters. Because of the g New Zealand dollar, wool buyers were able to bid on most lines and the Wool Board was required to bid only 16.8 per cent of the offering, buying or having passed to it 3.7 per cent, or 797 bales.

Most of the board’s purchases were Merino wools and some Halfbreds.

The following list of leading prices is expressed in greasy terms with the dry yield in brackets.

Leading sales included:— Four bales of extra fine Merino woolly hogget from an undisclosed vendor easily topped the Christchurch prices at 948 c (71.2). Wilson Brothers (Waiau) sold two bales of fine Merino at 778 c (73.2) and two bales of medium shorn hogget at 741 c (71.4). Other leading Merino sales Included N. E. Giles (Blenheim) with 735 c (69.1) for four bales of extra fine and Clarence Reserve, Ltd (Kaikoura), with 690 c (62.5) for two bales of extra fine woolly hogget Halfbred reached 505 c (673). for 10 bales of extra fine woolly hogget from the bins of Wrightson N.M-A. Gibson Brothers (Lees •'’•Valley)-' received 431 c (70.4) for six bales of medium woolly hogget, and 425 c (68.2) and 407 c (69.4) for two lines of eight and 10 bales of fine woolly hogget. Six bales of fine Halfbred from B. M. Murray (Parnassus) reached 436 c (68.7) and M. W. Bayley (Little River) sold six bales of two-tooth at 418 c (69.5) B. W. Page (Ranglora) received 416 c (68.1) for seven bales of extra fine woolly hogget, G. W. Ryder (Waiau) was paid 414 c (68.3) for 11 bales of medium shorn hogget, and nine bales of strong hogget from* R. G. Watherston (Kaikoura) made 405 c (74.2). A few lines of Corriedale exceeded 400 c, including four bales of fine shorn hogget from J. R. Power (Ranglora) at 421 c (68.5) and seven bales from Waireka Holdings (Blenheim) at 420 c (69.9). - R. G. Abbott (Cheviot) received 410 c (66.8) for four bales of Corriedale shorn hogget and M. S. and G. M. Brown (Omihi) sold six bales of fine woolly hogget at 405 c (64.7). Extra fine Corriedale ewe from P. S. and T. Stewart (Methven) made 395 c (64.8) for five bales, and G. B. and M. A. Evans (Waikari) received 394 c (64.4) for six bales of fine. Otter Corriedale sales included six bales of woolly hogget from T. -M. Roberts (Culverden) at 393 c (68,1), 'five bales of find- from R. M. Butterick (Ashburton) at 392 c. (71.4) and six bales of medium shorn hogget from D. S. Latter (Cheviot) at 384 c (682). Among leading crossbred prices were several Chatham Islands farmers with lines Of shorn hogget D. L. Holmes received 425 c (82.9) for six bales, H. and P. Daymand 424 c (81) for 10 bales, J. Tuanui 418 c (81.1) for seven bales, A. Daymand 416 c (79.6) for 10 bales, and Estate M. Tuanui received 405 c (79.1) for 11 bales. Another Chathams farmer, C. H. Preece, sold six bales of crossbred at 404 c (80.3). J. J. Murdoch (Lincoln) received 420 c (83.5) for 20 bales of crossbred, Stone Jug Farm (Kaikoura) sold 24 bales of shorn hogget at 413 c (782), and the Lands and Survey Department (Pup, Nelson), sold 10 bales of shorn hogget at 421 c (83.9). Eight bales of fine crossbred shorn hogget from D. S. Edmondson (Takaka) was worth 407 c (80.1), and D. J. Wells «ora) received 403 c (79) ir bales of similar description. Romney sales included seven bales of shorn hogget 'from M. A. and T. A. Barnhill (Reefton) at 405 c (81.8), 13

bales of ewe fleece from B. A. Rogatski (Aliaura) at 405 c (81.8), four bales from R. K. and C. J. Farnell (Havelock) at 405 c (81.5), and four bales of shorn hogget from L E. Sunckell (Murchison) at 403 c (83.9). Leading lines of Coopworth included six bales of woolly hogget from R. J. Wright (Dunsandel) at 397 c (77.7) and four bales of early-shorn from R. J. and J. L Mulvay Partnership (Sheffield) at 391 c (802). B. J. Hunt (Barfield) sold eight bales of shorn hogget at 389 c (762) and Giggs Crossing Farm (Charing Ctosji) sold 20 bales at 387 c (77.1). Seven bales of Perendale shorn hogget from A. Hawke (Nelson) made 405 c (82.3) and G. Steele (Banks Peninsula) received 399 c (79.5) for 10 bales of medium ewe. Perendale shorn hogget from J. W. Thomson (Murchison) made 396 c (83.5) for six bales, and a line of five bales of similar description from C. J. Hatton (Barfield) made 395 c (78.1). Two vendors sold Borderdale wool at 389 c — T. G. Neal and Son (Blenheim) with six bales of shorn hogget (79.1), and J. D. and D. AT Caldwell (Cheviot) witlh 11 bales of early-shorn (77.7). Woodbourne Farm (Sefton) received 380 c S for fifteen bales of Bordersi ewe and Oakleigh Southbridge (Soutttridge) sold four bales of strong; shorn hogget at 380 c (74.3). Among a small offering of lambs’ wool, four bales of Coopworth from P. B. Goulter (Blenheim) made 426 c (81.7), five bales of fine crossbred from Kelso Downs (Amberley) sold at 416 c (822) and ten bales of fine crossbred from S. More (Tai Tapu) sold at 400 c (77.3).

Second-shear sales included fourteen bales of Romney from R. J. and C. K. Farnell (Havelock) at 408 c (80.9), four bales of Perendale shorn hogget from P. J. and A. K. Kennedy (Ahnura) at 404 c (812), and fourteen bales of crossbred from B. H. and W. H.

Monk (Ahaura) at 400 c (80.6). W. G. and M. C. McMillan (West Coast) sold twelve bales of Coopworth at 390 c (82.3). Timaru wool The top price in the Timaru section was 890 c (70.7) for six bales of fine Merino woolly hogget from-Birchwood Run, LtdfOmarama. Eight bales of extra fine from the same vendor made 820 c (772). Prices for a big offering of Merino from Dry Creek station (Fairlie) reached 885 c (73.4) for one bale of extra fine twotooth, and 836 c (69) for two bales. Other top sales from Dry Creek included three bales of fine woolly hogget at 823 c (682) and »09c (66.7) for a single bale of super fine. G. Innes (Omarama) sold seven bales of extra fine Merino woolly hogget at 825 c (66.6) and four bales at 798 c (66.5). Two bales of fine woolly hogget from Mt Aitken Run ComS(Waimate) made 829 c and Mt White station i) received 743 c (65.1) for 10 bales of extra fine and 725 c (65.5) for five bales of fine. Blue Mountain Run Company (Fairlie) sold five bales of fine Halfbred woolly hogget at 498 c (70.6), B. A. Turner (Rangitata) received 420 c (70.6) for seven bales of Halfbred ewe, and M. D. Ross Partnership (Albury) was paid 423 c (68.6) for nine bales of woolly hogget Corriedale sales included D. G. Ross (Burkes Pass) with seven bales of woolly hogget at 458 c (682) and J. D. and N. F. Small (Kurow) with five bales of extra fine at 456 c (65.4) and four bales of fine at 422 c (682). Crossbred wool sold to 409 c (80.9) for 15 bales from J. C. D. Abbott (Ashburton). Another 13 bales from the same vendor made 394 c (78.7). B. G. Butler (Waimate) received 401 c (80) for 27 bales of early shorn crossbred and J. T. and C. F. Brosnahan (Seadown) sold 13 bales at 391 c (78.7).

Five bales of crossbred shorn hogget from Hadleigh Partnership (Ashburton) made 393 c (76.3), W. A. and A. J. Shirtcliff (Ashburton) sold nine bales of crossbred at 390 c (752) and Nuipapa, Ltd (Oamaru) reeeiveu 390 c (74.7) for six bales of English Leices-ter-Romney cross shorn hogget Other crossbred sales included W. G. Burdon (Geraldine) with seven bales of twotooth at 387 c (77.6) and I. C. Somerville (Ashwick Flat) with 16 bales at 383 c (76.8). Seven bales of Romney two-tooth from D. R. Scott and Sons (Rangitata Island) made 387 c (77.1) N. L. and G. M. Carr (Mayfield) received 385 c (76.6) for six bales of Romney twotooth and 384 c (77.5) for 19 bales of Romney, and R. B. Trotter (Fairlie) was paid 422 c (79.9) for six bales of threequarterbred shorn hogget Perendale reached 378 c (76.1) for 10 bales from W. L. King (Fairlie). Two vendors were paid, 376 c — A. L. Jones (Maungati) for three bales (72.2) of Perendale cross shorn hogget and R. J. Lister (Temuka) for nine bales (76.5) of early shorn. The Coopworth section was led by Mahoe Farm, Ltd (Cave), with six bales of twotooth at 431 c (86.1), T. J. McKeown (Ashburton) was paid 391 c (79.1) for 14 bales of Coopworth, D. L. and J. A. Sargent (Taiko) received 388 c (74.8) for six bales of Borderdale shorn hogget and Riversdale Farming Company (Ashburton) sold eight bales of Borderdale shorn hogget at 387 c (75.6). Four bales of fine crossbred lambs’ wool from A. G. Paul (Totara Valley) sold at 412 c (83.4). The order of sale was: Timaru — 369 lots, 3719 bales. Christchurch.— Pyne, Gould, Guinness, 419 lots, 5107 bales; Wrightson N.M.A., 545 lots, 7268 bales; Dalgety Crown, 593 lots, 6627 bales.