Confident note for wool at Chch sale

Press, 25 June 1983, Page 6

Confident note for wool at Chch sale

The 1982-83 wool selling season in Christchurch ended yesterday on a confident note with widespread competition from buyers and a rising tone throughout the auction. The mixed end-of-season offering, with a healthy component of early prelamb shorn crossbred fleece wools, was the last chance for buyers to fill this season’s orders for many types. Prices for some of those types firmed during the day. The remaining sale in the North Island, next Thursday, will consist mainly of second-shear but these types, too, were in sellers’ favour to firm yesterday compared with the Auckland sale earlier this week. Compared with Auckland,

the better length and style second-shear was in sellers’ favour and the shorter types generally firm. Crossbred oddments were 5 to 7.5 per cent dearer for the better styles and firm for the shorter and poorer styles. Compared with the Wellington sale on June 10, crossbred fleece was 5 to 7.5 per cent dearer for medium and course wools. Compared with the Dunedin sale on May 27, fine Halfbred fleece was 2.5 per cent dearer. The medium to strong types opened in buyers’ favour but firmed during the day. In the total offering of about 20,000 bales the Wool Board found a ready sale for more than 5000 bales of its stockpile. A feature of

this selling season has been the ability of the board to dispose of more than 150,000 bales, reducing its stockpile to less than 300,000 bales. This has been a strong indication of the depth of world interest in crossbred wools as the international recession eases. The adjusted weighted average sale price at the sale was 291.66 c a kilogram, only slightly down on the season’s high point reached soon after the devaluation of the New Zealand dollar. Based on yesterday’s A.W.A.S.P., a Government supplementary payment of 9.7 per cent will apply to all wool sold at the auction and all wool sold privately from midnight, June 23 to midnight, June 29.

The market indicator was 292 c. Comparison of yesterday’s prices with those at the last Christchurch sale of the 1981-82 selling year, exactly one year ago, shows a welcome improvement in the 12 months. The A.W.A.S.P. last June was 258 c, indicating a lift of 30c a kilogram during the year to now. Not all of this rise can be attributed to devaluation and may be taken as confirmation of the lift in recession. After the Napier sale next week, the wool auction system will go into recess. Activity will resume with the first sale in Christchurch on August 11. Among the leading prices for yesterday’s sale were: Merino wool sold to 521 c for two bales of fine from P. A.

Gullidge (Ward). Other good Merino prices included 484 c and 482 c for two lots of two bales each of fine wool from the bins of Wrightson NMA, Ltd, and 489 c for three bales of fine from J. and D. Crawford (Oxford). Seven bales of fine Halfbred woolly hogget from C. F. and C. N. McKenzie (Motunau) sold for 459 c, and five bales of similar wool sold on behelf of the Wool Board made 449 c. E. McLaughlin (Blenheim) received 422 c for eight bales of extra fine Halfbred. The Wool Board recorded several good sales of Corriedale, including four bales of fine wooly hogget at 450 c, and' five bales of shorn hogget at 422 c. The Lands and Survey Department (Eyrewell) received 421 c for 11 bales of fine ewe fleece, and Mendip

Hills station (Parnassus) sold eight bales of fine woolly hogget at 438 c and 24 bales of medium at 406 c. Eight bales of crossbred two-tooth wool from A. R. R. Robertson (South Canterbury) sold at 396 c, G. Marshall (Duvauchelle) sold five bales of crossbred at 391 c, and two vendors received a price of 383 c — D. Drummond (Wakefield) for six bales and Horswood Downs (Rangiora) for 10 bales. Sherwood Partnership (Waiau) sold 28 bales of crossbred at 380 c, Ferguson Farms (West Coast) sold four bales at 375 c, and W. F. Kolkman (Rangiora) received 371 c for four bales of fine shorn hogget. R. J. H. Coop (Kaituna Valley) was paid 370 c for 11 bales of Romney two-tooth wool and E.

E. Spencer (Parnassus) sold 51 bales of Romney at 369 c. Six bales of Coopworth twotooth wool from R. G. and S. G. Bell (Teddington) sold for 392 c, Kelson Downs Farm (Scargill) received 371 c for 16 bales of similar wool, and M. and S. Fowler (Hinds) were paid 368 c for 36 bales of Coopworth. I. THorn (Nelson) sold six bales also at 368 c. Perendale wool from G. V. Maginness (Kaituna Valley) sold for 358 c for 17 bales, and K. T. Vogan (Duvauchelle) received 357 c for five bales. Other leading prices included 345 c for 10 bales of medium wool from the bins of Wrightsons and 344 c for four bales of second shear from B. Moffitt (Nelson). Ten bales of Borderdale woolly hogget from A. C. Riddle (Amberley) made 403 c,

and K. D. Stevenson (Flaxton) received 362 c for four bales of Border Leicester. Other Borderdale sales included 352 c for 16 bales from R. and B. Hewett (Cheviot), and 351 c for seven bales of two-tooth wool from J. D. and D. A. Caldwell (Cheviot). L. A. Moore (Wairau Valley) sold six bales of Polwarth woolly hogget at 463 c. The Wool’Board received 370 c for four bales of quarterbred, and the Lands and Survey Department (Cheddar Valley) sold 60 bales of three-quarterbred wool at 325 c. Five bales of Halfbred lambs’ wool from J. and D. Crawford (Oxford) made 380 c. R. and R. Adams (West Coast) received 344 c for four bales of crossbred lambs' wool, and Percival Farms (Hanmer Springs) sold 24 bales of Coop-

worth lambs' wool at 336 c. D. Dennehy (Whataroa) sold four bales of Perendale lambs’ wool at 327 c. Several vendors received 375 c for second-shear crossbred wool — S. and G. Wallace (Lake Haupiri) for four bales, I. Wallace Haupiri) with 19 bales, and Renegat Partner-, ship (Banks Peninsula) with 11 bales. Five bales of Romney second-shear from the bins of Dalgety New Zealand. Ltd. made '372c and A. Martin (Oxford) received 360 c for five bales of crossbred. . The order of the sale was: Dalgety New Zealand. Ltd. 572' lots. 5731 bales; Wrightson NMA. Ltd. 969 lots. 8991 bales; Pyne. Gould Guinness Ltd, 554 lots, 5608 bales. Total: 2095 lots, 20,330 bales.