Fine fleece steady

Press, 29 January 1988, Page 10

Fine fleece steady

Fine fleece prices held up well at a small sale of Timaru wool in Christchurch yesterday in spite of a strengthening New Zealand dollar. Halfbred fleece prices of 30 micron and finer were 2 per cent dearer on last week’s Dunedin sale, but the most significant feature of the market was an easing in the price of crossbred and second-shear wool. The market indicator, based on sales of Timaru and Invercargill wool, fell 7c a kilogram (clean) from last week’s sale to finish at 567 c. A rise of 1.4 per cent in the value of the New Zealand dollar against United States currency was blamed for the indicator drop. Crossbred lambs’ wool of 30 and 31 micron was 2.5 per cent cheaper than at

Dunedin, and crossbred bulky skirtings and oddments were 2.5 to 5 per cent cheaper. The combined offering of 27,012 bales of Timaru and Invercargill wool was dominated by crossbreds which made up 52 per cent of the catalogues. Ten per cent was crossbred second-shear, 8 per cent lambs, and 2 per cent Halfbred. The Wool Board gave strong support to the market, bidding on 59 per cent of the offering and buying, or have passed to it, 29 per cent, or 7922 bales. The board’s support covered a wide range of wool types, focusing mainly on better coloured crossbred, lambs’, and bulky skirtings. Buyers showed limited demand for lambs’ wool, particularly the coarser types. Some lines would have been more attractive and could

possibly have commanded better prices if they had been better prepared, said brokers. Belly fribs and pieces should have been removed. The wools were drawn mostly from North Otago, and Mid and South Canterbury. Crossbred fleeces showed a marked decline in colour and style since the previous Timaru sale. Yellowing and tenderness of the staple was evident in some lines and there was a fair proportion of cotted wool. A limited offering of second-shears showed some yellowing and shortness of staple. The order of the Timaru catalogue was: Wrightson Dalgety 394 lots, 4928 bales; Pyne, Gould Guinness 105 lots, 1448 bales; total 499 lots, 6376 bales.