Wool Board gives strong support to sale

Press, 11 August 1989, Page 23

Wool Board gives strong support to sale

Heavy support from the Wool Board prevented prices falling sharply at the first Christchurch wool sale of the 1989-90 season in Christchurch yesterday. The board bought 47 per cent of the offering, or 8160 bales, and was forced to bid on 75 per cent of the total offering to stabilise the market.

The market indicator fell 11c since the previous sale on August 3 to finish at 637 c a kilogram clean. The market appears to be following the easing trend in Australia where the Australian Wool Corporation has bought more than 50 per cent of the offering at recent sales.

Exporters say a lack of enthusiasm in world markets meant there were few orders coming in and buyers were waiting to see at what price the market will settle.

Most of the board’s support was given to the better quality Corriedale and Halfbred wools, leaving the trade to take the shorter, poorer types among the fine wools. Observers estimated the true market prices for the good style Corriedale .and Halfbreds were 4 to 6 per cent below the prices actually paid by the board at auction. Compared with the previ-

ous sale on August 3, 25 to 32 micron. Halfbred fleece was 2.5 per cent cheaper, bulky Halfbred skirtings were 2 per cent cheaper, Halfbred crutchings 1.5 per cent cheaper and Halfbred second pieces and locks were unchanged.

Among crossbreds, prices of 35 and 37 micron fleece of good to super style were 2.5 per cent cheaper, 37 micron of good style was 2 per cent cheaper, and good to average style 3.5 per cent cheaper. Second-shear of super style was down 2 per cent and other second-shears were up to 1 per cent cheaper. Clothing oddments of average and poor style were 3 per cent cheaper but average style crutchings, secondpieces and locks were 2.5 per cent dearer.

The offering of more than 18,000 bales comprised 41 per cent Halfbred fleece, 12 per cent second-shear, 12 per cent crossbred, 12 per cent bulky skirtings, 8 per cent crutchings and 2 per cent Merino fleece.

Brokers said the wool was in surprisingly good order considering most of its growth had occurred during the drought. The staples were sound and of good length, although weights were well down — some clips were up

to 25 per cent lighter than usual.

The Corriedale and Halfbred wools had come through the drought well, emphasising the ability of these sheep, particularly Corriedales, to handle dry conditions, said a broker.

Corriedale and Halfbred fleeces were one to two microns finer than usual, but the wool was sound and of a reasonable length. Some of the crossbreds showed greater signs of the stress from the drought in the form of tenderness and shorter staple lengths. Compared with the previous Christchurch sale in June, the price of 26 to 30 micron fleece was 3 to 5 per cent cheaper and crossbreds were 2.5 to 5 per Cent cheaper. The next sale of Christchurch wool will be on September 7. The order of sale was: Wrightson 979 lots, 10,177 bales; Elders Pastoral 128 lots, 1015 bales; Pyne, Gould, Guinness 7J2 lots, 7492 bales; total 1819 lots, 18,684 bales. Price range A range of clean prices issued by the Christchurch Woolbrokers’ Association is:— Fleece Merino, 18.4 micron: Good to super — to 2272. 18.8 micron: Good to super — to

2250. 20 micron: Good to super — 1760 to 1796; Good — 1591 to 1671. 21 micron: Good to super — 1419 to 1460. 22 micron: Good to super — 1231 to 1267; Good — 1195 to 1198; Good average — to 1149.

Extra fine Halfbred and Corriedale, 25 micron: Good — 900 to 928; Good average — 875 to 890.

Fine Halfbred and Corriedale, 27 micron: Good to super — to 850; Good — 836 to 846; Good average — 796 to 818.

Medium Halfbred and Corriedale, 28 micron: Good to super — to 844; Good — 818 to 830; Good average — 792 to 816.

Strong. Halfbred and Corriedale, 29 micron: Good to super — to 804; Good — 788 to 800; Good average — 769 to 771.

Fine crossbred, 32 micron: Good to super — 698 to 700; Good — 686 to 696; Good average — 676 to 683. Medium crossbred, 35 micron: Good — 641 to 652; Good average — 626 to 636.

Strong crossbred, 37 mi- - cron: Good — 635 to 645; Good average — 611 to 633. Early shorn (short) Fine halfbred, 25-26 micron: Good to super — 883 to 895; Good — 840 to 871. Haifbred, 27-28 micron: Good

to super — 833 to 836; Good — 800 to 830. Fine crossbred, 30-31 micron: Good — 728 to 751. Crossbred, 33-34 micron: Good to super — 668 to 697; Good — 642 to 660. Crossbred, 36-37 micron: Good — 633 to 653. Second-shear Fine halfbred, 26-27 micron: Good — 756 to 786; Good average — 667 to 694. Halfbred, 29-30 micron: Good — 637 to 666. Crossbred, 37 micron: 75-125 mm: Good to super — to 637; Good — 616 to 627; Good average — 603 to 609. Crossbred, 37 micron: 50-100 mm: Good — 604 to 615; Good average — 585 to 600. v Pieces Halfbred, 27-28 micron: Good — 736 to 766; Average — 716 to 728. Crossbred, 3335 micron: Good — 584 to 611; Average — 569 to 574. Bellies Halfbred, 27-28 micron: Good — 707 to 748; Average — 655 to 688. Crossbred, 3335 micron: Good — 576 to 591; Average — 543 to 568. Crutchings (short)

Fine halfbred, 27-28 micron: Good — 547 to 555; Average — 490 to 520. Halfbred, 29-30 micron: Good — 528 to 548; Average — 508 to 512. Crossbred, 35-37 micron: Good — 558 to 573; Average — 518 to 549.