Confident demand as market tone rises

Press, 24 March 1988, Page 20

Confident demand as market tone rises

H' J -'J I ' A | confident demand ;tfor most fleece jaind lambs’ wools was [a feature of a’ successful wool sale in Christchurch yesterday! [ - ;|- "! 1..1 ' |j> The market indicator rose to; 596 c a kilogram (clean), the [highest level since midDecember and 9c above)!the previous sale (at Dunedin) last ‘week. I !■ || !. Much of the rising tone of the market was attributed to a slight; easing in ,the value of the [Kiwi dollar against Ijthe United [States' dollar since) the Dunedin sale; 1 ;. H; ■[ However, the demand from buyers, particularly those Representing Chinese interests, would - probably have been strong even jtf the dollar had remained unchanged! i [[ I Observers | |said the market did | not appqar to iiavejany weakness and nearly [all types. of wool drew good support. The i over-jail style of i the wools on offer yesterday; was not I quite as[ good as at) the previous Christchurch sale on February 26;|but the (fact [that the market iyas sound further underlined the strength of the demand. ■ ! i | I I Lambs’ wool of good staple length and the Halfbredsiand Corriedales sold freely, With the .Wool Board quoting Halfbred fleece of 28 to 31) micron and first lambs’ prices up 'to: 2.5 per cent dearer compared with Dunedin.

! !I- ! ■(! !-N ; .!-' Crossbred fleece |was up to 2 [ per I cent [ dearer, bulky skirting pieces were up to 2.5 per cent) dearer [and oddments were! generally unchanged. [Second lambs’ and second-shear; were slightly cheaper and soft cotts were 2.5 to 5 per cent cheaper. The offering coiriprised 336 per cent iambs’; wool, 19 per cent crossbred |second-shear, 13 per cent crossbred fleece, and 13 per cent! Halfbred fleece, iI [ ; .. -I i ' 'I. The board bid on 28 per cent of the offering: and had 8 per cbnt ‘(1548 bales) passed or sold to it. Most, of the board’s support was on crossbred iambs'. I . Most wool came 'from Canterbury, with good offerings from Nelson) and | the West Coast. The wools were generally well-grown although the quality !of many lines had suffered j frdm the recent weather [and were showing some colour.; I i.l I )|l [ The marked I indicators (with their level at Dunedin in brackets) were: Fine 1563 c medium 637 c (624 c cdarse 562 c i (556 c lambs’ 579 c (570 c II ! • [ The order of sale was Elders Pastoral 147 [lots, 12&4 bales; Wrightson Dalgety 1099 lots, 10(926' [bales; Pyne, Gould Guinness'663 lots, 7322 bales; total 1909 lots, 19,542 bales.' ■j - I I! [ ', ■\ ! ill ■ ! ■

Price range ! A range ' of clean [prices issued by the Christchurch Woolbrokers’ Association is:-Extra-fine Halfbred and Corriedale, ;25 micron: I Good, 355 to 862;: good to 1 average, 301 to 810.; !■; Fine Halfbred arid Cbrriedale, 27 micron: Good, 753 to 765. . - ‘ I . Medium i Halfbred and Corriedale,: 28 micron: Good, 715 to 725; good to average, 701 to 711.! [ Strong : Halfbred and Corriedale, 29-30 micron: Good to super, 698 to 711; good, 681 to 691; good to average, 668 to 680. . i Fine crossbred, 32-33 mi-: cron: Good to super, to 684; good, 664 'to 678; good to; average, 645 to .656. Medium crossbred, 35 micron: Good, 583 to; 596; good to average, 567 [to 579. Strong crossbred, 37 micron: Good to super, to 605; good; 579 I to 591; good to average, 568 to 1578. Lambs' |! Extra-fine Halfbred, 25 micron:! Good to super, 652 to 673; good, 634 to 648. Fine Halfbred, 26-27 mi-jj cron: Good ,to super, 7 655 to 661; good, 642 to 653; good to average, 633 to 641. I; Halfbred and fine crossbred, 29 micron: I Good to super, 595 to 612; good, 584 to 590; good to average, 575 to ' . ! ■ Ji. !r.

581” ’ / ' - Crossbred, 30-32 mic xm: Gooc to [super, 600 to 517; good 578 to 596; good to aver i ;e, 555 to 577. Second-shear Halfbred, [ 29-30 micron: Good, 621 to 633; good a zer- j agri, fBO to 596. :■ - I . j I Crossbred,' 37 micron 75-. 125 rim: Good to super, to:' 588; good, 566 t0[578; good to average! 555 to 565. 37 micron >O-100 mm: Good, 5(4 to 573; good to average, 552 to 56L ,j I j.' I [j I ' 7 1 ' - i Necks . "[' I red, ; 26-27 micron: ! [to good, 711 to 731. .Crossbred, 32-33 miferage to good, 560 to ' |L J. '!L J ' I | ■ Pieces j j ", | red, | [ 27 ? 28 I micron: ' ) Itb good, 633 to 646; 1 ,[591 to; 628. - bred, 33-35 micron !;to good, 524 to 533 [ , 510 t0![521. !!”■.[ [I ! Bellies red, 27 r 28 micron ■ Ito good, 635 to 644 ,1006 to [6lB. . >rpd, 11 33-35 micron ! Ito good, 510 :to 522 , | *492 to, [5OO. - I Locks red, 27-28 (nicron.' : to good, 435 [to! 453. GrlosSbred, 33-35 micron Average to good, 455 to 462. jn ■ H