Poor wools suffer an easier market

Press, 10 February 1989, Page 14

Poor wools suffer an easier market

Wool prices at yesterday’s Christchurch wool sale started to feel the full flow-on effects of the prolonged drought in Canterbury. Clips in a tender condition and those with short staple lengths as a result of the drought were severely discounted by buyers. Until yesterday, wool from the drought-affected areas had sold reasonably well as the wool market strengthened during the last month. Short wools, in particular, had found a ready market. But buyers were much more selective yesterday, and marked back wools which were discoloured, tender, cotted or short. The discount was generally two to three per cent, and in places five per cent. The market indicator fell 15c a kilogram (clean) to 687 c since last week’s Dunedin sale. The drop was more a reflection of the strengthening in the value of the New Zealand dollar against the United States currency rather than a significant drop in demand. The dollar had firmed 68 points since the Dunedin sale. Yesterday’s market started hesitantly, but the tone improved as the sale progressed and finished at its strongest level for the day. The Wool Board bid on 32 per cent of the offering, and bought, or had passed to it, 11 per cent. Early in the sale the board was bidding on more than 40 per cent. Compared with the Dunedin sale, Haifbred fleece of 25 to 27 micron was generally 2.5 per cent cheaper while 28 micron

fleece and coarser was one per cent cheaper, said the board. Crossbred fleece was quoted as being on a par to one per cent cheaper, crossbred cotts were two per cent cheaper, and crossbred second-shear up to 2.5 per cent cheaper. Bulky skirtings were unchanged to one percent cheaper, clothing oddments, second pieces and locks 7.5 per cent cheaper, lambs’ wool one per cent dearer and second lambs’ par to one per cent cheaper. The offering of about 13,000 bales comprised 20 per cent Halfbred/crossbred lambs’ wool, 19 per cent Half bred fleece, 16 per cent crossbred, and 16 per cent crossbred second-shear, said the board. The bulk of the wool was drawn from Canterbury, with some lines from Nelson and the West Coast. The contrast between the wools from different areas was marked, with the Canterbury drought wools being tender and short while many of the West Coast and Nelson offerings were badly discoloured and cotted. Brokers said the betterquality wools still drew good demand from buyers in spite of the over-all easing. Lambs’ wool generally had a good sale. Fine Halfbred and Corriedale (26 micron and finer) was 2.5 per cent cheaper, medium unchanged, and medium to strong two to three per cent cheaper. Crossbred tended to be in buyers’ favour. The order of sale was: Wrightson 850 lots, 8205 bales; Elders Pastoral 68 lots, 512 bales; Pyne, Gould, Guinness 453 lots,

4543 bales; total 1371 lot, 13.7.60 hales Price range A range of clean prices issued by the Christchurch Woolbrokers’ Association is (short-fleece prices would be 40-80 c below those listed): Merino, 19 micron: Good, 2522 to 2564. 20 micron: Good to super, 2026 to 2058. 21 micron: Good to super, to 1768; good, to 1696. Extra fine Halfbred and Corriedale, 25 micron: Good, 1087 to 1119. Fine Halfbred and Corriedale, 27 micron: Good to super, 982 to 988; good, 946 to 974; good to average, 907 to 932. Medium Halfbred and Corriedale, 28 micron: Good to super, 917 to 930; good, 890 to 907; good to average, 850 to 872. Strong Halfbred and Corriedale, 29 micron: Good, 866 to 885; good,to average, 848 to 862. Fine Crossbred, 32-33 micron: Good, 753 to 768; good to average, 730 to 739. Medium Crossbred, 35 micron: Good to super, to 728; good, 660 to 671; good to average, 648 to 658. Strong Crossbred, 37 micron: Good, 654 to 667; good to average, 642 to 651. Shorn Hogget (short) Fine Halfbred, 25-26 micron: Good to super, 1081 to 1108; good .1036 to 1051. Halfbred, 27-28 micron: Good, 933 to 944. Fine Crossbred, 30-32 micron: good, 824 to 841. Crossbred, 33-34 micron: Good, 693 to 745. Lambs Extra fine Halfbred, 25 micron: Good to super, to 736; good, 701 to 721. - fine Halfbred, 26-27 micron: Good to super, 738 to 743; good, 705 to 727. Halfbred-fine Crossbred, 29 micron: Good to super, 668 to 686; good, 650 to 662; good to average, 623 to 647. Crossbred, 30-32 micron: Good to super, 661 to 664; good, 647 to 660; good to average, 618 to 637. Second Shear Fine L Halfbred, 26-27 micron: Good, 775 to 793. Halfbred, 29-30 micron: Good, 812 to 842.

Crossbred, 37 micron, 75125 mm: Good, 645 to 653; good to average, 632 to 640. Crossbred, 37 micron, 50100 mm: Good, 636 to 647; good to average, 609 to 631. Necks Halfbred, 25 to 26 micron: Average to good, 975 to 1047. Fine Crossbred, 30 to 31 micron: Average to good, 712 to 742. Pieces Halfbred, 26 to 27 micron: Average to good, 835 to 848; average, 795 to 828. Crossbred, 31 to 33 micron: Average to good, 613 to 632; average, 582 to 609. Bellies Halfbred, 26 to 28 micron: Average, 790 to 800. Crossbred, 32 to 34 micron: Average to good, 602 to 614, average, 585 to 596. Price range The Wool Board’s report on prices for clean wool of the following descriptions is based on yesterday’s sale in Christchurch Micron Col mm Cents

Halfbred and Corriedale 25 fleece 3 90 — 27 fleece 3 95 950 29 fleece 3 100 870 31 fleece 3 105 820 28 pieces 6 75 — 28 bellies 6 75 — 28 lox 4 40 — 26 lambs 1.5 50 742 28 crutchings 3 Crossbred 50 — 35 fleece 4 125 682 35 fleece 7 110 — 37 fleece 4 125 659 37 fleece 7 125 — 37 cott 7 125 605 35 pieces 9 100 607 35 bellies 10 100 600 35 lox 10 50 463 37 crutchings 5 65 Second shear — 31 fleece 2.5 65 —— 33 fleece 2.5 65 — 37 fleece 2.5 100 655 37 fleece 5 100 —— 37 fleece 2.5 85 640 37 fleece 5 85 —- 37 fleece 2.5 75 634 37 fleece 5 75 —— 37 fleece 2.5 65 614 37 fleece 5 65 —— 37 Bls and Pcs 8 65 664 29 lambs 3 50 646 29 lambs 2 65 647 31 lambs 2 75 — 31 lambs 3 75 — 31 lambs 2.5 85 ——