Support keeps prices steady

Press, 12 September 1987, Page 18

Support keeps prices steady

Strong buying support from the Wool Board kept prices of crossbred and Halfbred fleece generally steady at the second Christchurch wool sale of the season yesterday. The board bld on 51 per cent of the offering of almost 21,000 bales and bought, or had passed to it, 20 per cent (4101 bales), adding to the 2400 bales bought, at Thursday’s Timaru-Invercargill sale. Just one month ago, the board had given only nominal support to the

market (at the previous Christchurch sale in August it had bought only 27 bales), but the general decline in wool prices since then has seen the . board become much more active. The board was particularly active during the early stages of yesterday’s sale, bidding on a wide range of wool types. The market indicator rose 1c on the level set at Thursday’s sale to finish at 598 c a kilogram clean, down 90c on the season’s peak on August 14. The

indicator price at last season’s corresponding Christchurch sale was 540 c. The general strength of the New Zealand dollar, not only against the United States dollar but the currencies of other trading partners, and uncertainty surrounding the dollar’s movement had’ made the market hesitant, according to market observers. The sale contained 32 per cent of Halfbred fleece and 19 per cent of crossbred fleece, 13 per cent crossbred second-

shear, and 4 per cent Merino fleece. v Brokers said the wools, drawn mainly from Canterbury and Marlborough with some lines from Nelson and the West Coast were of a good standard, reflecting the excellent growing conditions, and were generally of good colour. Compared with Thursday’s sale, crossbred fleece of 34 to 35 mlcrpn was up to 2 per cent dearer and crossbred fleece of 37 micron was firm, according to the Wool Board. Crossbred second-shear was generally unchanged, Halfbred fleece of 26 to 28 micron was up to 2 per cent cheaper, and Halfbred fleece of 29 to 31 micron and Merino fleece were firm. Crossbred skirtings were up to 2.5 per cent cheaper, Halfbred skirtings were firm, crossbred crutchings of good colour and length and oddments were up to 2.5 per cent dearer, crossbred locks were 2.5 to 5 per cent cheaper, and Halfbred crutchings and oddments were 5 to 7.5 per cent cheaper. The order of sale was: Elders Pastoral, 67 lots, 623 bales; Pyne, Gould, Guinness, 597 lots, 7063 bales; Wrightson Dalgety, 1210 lots, 13,210 bales; total 1874 lots, 20,896

bales. A range of clean prices, in cents a kilogram, issued by the Christchurch Woolbrokers Association is: Merino, 19 micron, good to super (short), 1990 c. Merino, 20 micron, good to super, 1694 c; 20.5 micron, good, 1450 c to 1466c x Merino, 21 micron, good to super, 1277 c to 1294 c; good, 1261 c to 1276 c. Merino, 22 micron, good to super, 1096 c to 1116; good, 1075 c to 1091 c; good to average, 1051 c to 1070 c. Extra fine Halfbred, and Corriedale, 215 micron, good, 765 c to 777. Fine Halfbred and Corriedale, 27 micron, good to super, 752 c to 765 c; good, 730 c to 748 c; good to average, 720 c to 729 c. Medium Halfbred and Corriedale, 29 micron, good to super, 726 c to 746 c; good, 693 c to 702 c; good to average, 680 c to 692 c. Strong Halfbred and Corriedale, 31 micron, good to super, to 678 c; good, 662 c to 671 c; good to average, 649 c to 658 c. Fine crossbred, 32/33 micron, good to super, 653 c to 660 c; good, 639 c to 645 c; good to average, 622 c to 632 c. Medium crossbred, 35 micron, good to super, 623 c to 629 c; good, 611 c to 621 c. Strong crossbred, 37 micron, good to super, 610 c to 613 c; good, 602 c to 609 c; good to average, 587 c to 599 c. Shorn hogget Fine halfbred, 25-26 micron, good, 734 c to 739 c. Halfbred, 27/28 micron, good, 717 c to 745 c. Fine crossbred, 30/31 mi-

cron, good, 651 c 'to 657 c. Croobred, 33/35 micron, good to super, 621 c to 640 c; 75/125mm, good, 591 c to 613 c. ‘' SecMd-ekear Halfbred, 29 micron, good, 658 c to 665 c. Crossbred, 37 micron, good to super, 588 c to 600 c; 75/125 : mm, good, 579 c to 586 c; good to average, to 570 c. Crossbred, 37 micron, good to super, 583 c to 593 c; 50/100 mm, good, 571 c to 582 c. • Necks Fine Halfbred, 26 micron, average to good, 717 c to 722 c. Halfbred, 27 micron, average to good, 701 c to 717 c. Fine crossbred, 32 micron, average to 580 c to 587 c. Fine Halfbred, 26 micron, average to good, 651 c to 662; average, 627 c to 631 c. Halfbred, 27/28 micron, good, 636 c to 647 c; average to good, 628 c to 633 c; average, 607 c to 624 c. Crossbred, 35 micron, good, to 587; average to good, 552 c to 566 c; average, 533 c to 541 c. Bellies Haifbred,' 27/28 micron, average to good, 615 c to 627; average, 602 c to 609 c. Medium crossbred, 35 micron, good, 542 c to 565 c; average to good, 523 c to 537 c; average, 517 c to 521 c. Crutchings Halfbred, 29/30 micron, good, 515 c to 521 c; average, 476 c to 502 c. Crossbred, 37 micron, good, 543 c to 556 c; average, 503 c to 533 c. Locks Halfbred, 28 micron, average to good, 510 c to 546 c. Crossbred, 35 micron, average to good, 451 c to 458 c.