Fine wool market loses more ground

Press, 25 September 1987, Page 7

Fine wool market loses more ground

The market for fine wools lost further ground at the combined Christchurch and Timaru wool sale in Christchurch yesterday, with 19 and 20 micron Merino fleece suffering most from the easing demand.

Compared with last week’s Dunedin sale, the finer Merinos yesterday were 7.5 per cent cheaper, 22 micron Merino was up to 4 per cent cheaper, and 21 and 23 micron fleece was firm.

In contrast, the prices of crossbred fleece generally remained steady, or were slightly cheaper in some places.

The market indicator, based on prices at Christchurch as well as yesterday’s North Island sale at Wellington, eased 5c a kilogram to 581 c clean- Since the peak of the market in August, the market indicator has fallen 107 c and is now back to the level it was at the opening of the season in July. Market observers suggested the consistent easing trend during the last month was a reflection of the rising value of the New Zealand dollar against United States currency. The wool market was still searching for a base level, and the currency relationship was one of the most important factors affecting the market.

The value of the New Zealand dollar has climbed almost 30 per cent since last year’s corresponding September sale in Christchurch. The market indicator has risen

40c over the same period. The recent easing in fine wool prices reflects a similar trend in the Australian wool market.

The Wool Board did not support the over-all market as strongly as it has in previous sales, although at Christchurch it bid on 46 per cent of the offering and bought, or had passed to it, 23 per cent, or 3800 bales. At Wellington, the board bid on 26 per cent and bought, or had passed to it, only 5 per cent, or 982 bales.

The board described crossbred fleece prices as tending to be slightly cheaper than at Dunedin; crossbred secondshear in the North Island was up to 2.5 per cent dearer and crossbred second-shear at Christchurch was slightly cheaper; Halfbred fleece was 3 per cent cheaper; skirtings were up to 2.5 per cent cheaper; and crossbred oddments were up to 5 per cent cheaper. The combined offering of 41,000 bales comprised 24 per cent crossbred fleece, 22 per cent crossbred second-shear, 18 per cent Halfbred fleece, 5 per cent Merino fleece, with the balance skirtings and oddments. The next sale will be at Dunedin on October 8 where 23,000 bales will be offered.

Price range A range of clean prices issued by the Christchurch Woolbrokers’ Association (short Merino wools are 50c to 80c lower than shown) is:—

Merino, 18 micron good to super to 3000; 19 micron good to super to 1809; good 1794 to 1804; 20 micron good to super to 1583; good 1518 to 1525; 21 micron, good 1186 to 1200; 22 micron good to super 1015 to. 1023; good 972 to 1006, good : to average 929 to 944.

Extra fine Halfbred and Corriedale, 25 micron, good to super to 702; good 677 to 697, good to average to 670. Fine, Halfbred and Corridale, 27 micron good to super 690 to 693, good 673 to 689, good to average 655 to 668.

. Medium Halfbred and Corriedale, 29 micron good to super to 657, good 640 to 654, good to average 620 to 636. Strong Halfbred and Corriedale, 31 micron, good 629 to 638, good to average 606 to 626. Fine crossbred, 32-33 micron, good 624 to 631, good to average 597 to 615. Medium crossbred, 35 micron, good 612 to 619, good to average 602 to 607. Strong crossbred, 37 micron, good 597 to 604, good to average 578 to 596. Shorn hogget Fine Halfbred, 25-26 micron, good 667 to 676. Halfbred, 27-28 micron, good 665 to 689. Fine crossbred, 30-31 micron 75-100 mm, good to super 620 to 642, good 584 to 613. Crossbred, 33-34 micron 75125 mm, good to super 609 to 628, good 583 to 608. Second shear Halfbred, 29 micron, good 653 to 660. Crossbred. 37 micron, good

to super to 597, good 566 to 578, good to average 563 to 565.

Crossbred, 37 micron 50100 mm, good to super to 572, good 556 to 567, good to average 538 to 554. Fine Halfbred, 15-26 micron, average to good 626 to 654. Fine crossbred, 32 micron, average to good 577 to 606. Pieces Fine Halfbred, 26mm, average to good 600 to 621, average 590 to 597. Halfbred, 17-28 micron, good 604 to 625, average to good 580 to 589, average 572 to 579. Crossbred, 35 micron, average to good 541 to 546. Bellies Halfbred, 27-28 micron, good 578 to 583, average to good 548 to 567. Medium crossbred, 35 micron, average to good 517 to 525, average 495 to 511. Crutchings Halfbred, 29-30 micron, good 476 to 483, average 450 to 464. Crossbred, 37 micron, good 499 to 526, average 455 to 486. Locks Halfbred, 28 micron, average to good 452 to 498. Crossbred, 35 micron, average to good 411 to 422. The order of sale of the Christchurch catalogue was Wrightson Dalgety 869 lots, 8170 bales; Elders Pastoral 61 lots, 478 bales; Pyne, Gould, Guinness 535 lots, 5176 bales. Total 1465 lots, 13,824 bales.