Dunedin wool sale maintains firm tone

Press, 24 February 1987, Page 12

Dunedin wool sale maintains firm tone

PA- Wellington The uncertainty of the supply of good-length crossbred wools helped maintain a firm tone at the recent Dunedin wool sale.

A spokesman for buyers at the sale said the pattern of shearing had changed with more producers guided by financial considerations than management options. The traditional flows of wool on to the market had changed with an increasing quantity of second shear fleece.

He said good-length crossbred wools were wanted by manufacturers and generally were difficult to purchase outside New Zealand. The south of the South Island was the main producer of these wools, and there was a growing concern that the trend to more frequent shearing could reduce the quantity available.

He emphasised that good-length second-shear, about 3in to 4in, was still an acceptable product. But the 2in to 3in secondshear which often dominates North Island sales was discounted.

The heavy offerings at sales before Christmas were achieved by earlier shearing, and good weather. The result was a season which was almost four to six weeks ahead. The significant offerings of second-shear wools available in February sales were traditionally part of the late Marchearly April catalogues.

At the Dunedin sale buyers were purchasing the longer-length wools as a hedge against possible shortages later in the season. This was reflected in the good prices received for cotts which were still good-length wools.

The spokesman said the market remained firm ip spite of the strenghtening New Zealand dollar, which showed the aware-

ness of the trade that the opportunities to purchase good-length wools were certain.

The acting chairman of the Otago Woolbrokers’ Association, Mr David Allen, said there was a good, firm market for all types of wool, especially the poorer crossbred. He acknowledged the change in wool-flow patterns, which had seen more wool sold earlier in the season.

Buyers were making purchases now in anticipation of a shortage of good-length wools. It was difficult to predict the number of fanners moving into eight-monthly or six-monthly shearing. Financial considerations were now an important factor.

The sale was dominated by crossbred wools, with 50 per cent of the offering crossbred fleece, 20 per cent crossbred lambs’ wool, 5 per cent lambs’ wool oddments, and 11.59 per cent crossbred oddments.

Most wools showed good colour and preparation with cotted fleeces removed and some careful skirting evident. There were some excellent lines of lambs’ wool catalogued but pen stains were showing in some otherwise well presented lines. The official report notes that compared with the last wool sale in Christchurch on Febuary 13, Merino fleece was unchanged, with Halfbred fleece in buyers’ favour.

Crossbred fleece was inclined in buyers’ favour but crossbred cotts were up to 2 per cent dearer. Crossbred second-shear and skirtings were generally unchanged, while crossbred clothing oddments were firm. Crossbred second pieces and locks were up to 7 per cent dearer. Crossbred first lambs’ wool was firm, with second lambs’ wool improving up to 2.5 per cent.

There was keen and well spread competition from Eastern and Western Europe, with support from the Far East, and to a lesser extent from New Zealand mills. The Wool Board continued to give strong support to the market, especially crossbred lambs’ wool. The board bid on about 26 per cent of the market and purchased about 10 per cent Official prices:

Merino, 20 micron: Good to super, — to 984, good, — to 952.

Merino, 21 micron: Good to super, — to 896.

Fine Halfbred, 27 micron: Good to super, — to 628. Fine Halfbred, 28 micron: Good — to 600.

Medium Halfbred, 29 micron: Good to super — to 599, good — to 585, good to average — to 564.

Fine crossbred, 33 micron: Good — to 566.

Medium crossbred, 35 micron: Gpod — to 566, good to average — to 561. Strong crossbred, 37 micron: Good — to 566, good to average — to 558. Lambs’ fleece, fine crossbred, 29 micron: Good to super — to 572. Crossbred, 31 micron: Good to super — to 556, good — to 553.

Second-shear, crossbred, 37 micron, s(Moomm: Good — to 551.

Necks, fine crossbred, 32 micron: Average — to 557. Pieces: crossbred, 35 micron: Average — to 511. Locks, Halfbred, 28 micron: Average to good — to 459. Crossbred, 35 micron: Average — to 431.