Weakening market for Timaru wool

Press, 13 February 1986, Page 24

Weakening market for Timaru wool

Timaru wool sold freely early in a combined auction in Christchurch yesterday with Invercargill wools but the market weakened later in the day as the New Zealand dollar appreciated in value.

The market indicator dropped to 341 c a kilogram greasy, 5c down on last week and near to its lowest point for the season.

The Wool Board was forced to increase its purchasing and support activity during the day after being inactive during the Timaru catalogues. Over the whole sale it bid on 26.9 per cent and had 12.4 per cent sold or passed to it.

Good-style, second-shears and crossbred fleeces sold well in the Timaru wools with a sale peak of 444 c a kilogram greasy for a very highyielding second-shear crossbred two-tooth lot. A small amount of fine wools attracted little buyer interest and values were nominally down as much as 2.5 per cent compared with the last Dunedin sale, on February 7. In the Timaru catalogues I. P. Simpson (Albury) received 598 c (69.7 yield per centage) for two bales of extra-fine Merino fleece; R. G. and H. M. Patterson (Omarama) sold three bales of fine Merino at 541 c (65.6) and J. G. Whyte (Mount Somers) sold eight bales of extra-fine Halfbred fleece at 383 c (68.2). Among the crossbred and Romney fleece wools, J. C. Talbot (Ashburton) sold six bales of crossbred shorn hogget at 397 c (83.4); Tripp Bros (Orari Gorge) sold 16 bales of Romney two-tooth at 391 c (83.9), and another nine bales for 384 c (83.4); and C. J. and M. Charles (Morven) sold seven bales of crossbred

carding wool for 389 c (77.8). R. J. and E. A. Quigley (Mayfield) sold 15 bales of Romney at 384 c (80.2); K. L. McConnell and Son (Ashburton) sold eight bales of Romney two-tooth at 384 c (80.0) and eight bales of Coopworth two-tooth at 381 c (81.0); W. R. George and Son (Mayfield) sold 10 bales of Romney twotooth at 383 c (80.8); G. D. and I. N. Cooper (Geraldine) sold nine bales of crossbred at 376 c (81.1); and the Estate D. Robinson (Geraldine) sold 15 bales of crossbred at 375 c (81.0).

D. N. Wreford (Hadlow) sold six bales of Coopworth fleece at 377 c (81.0); S. J. and L. J. Sheen (Skipton) sold seven bales of Coopworth two-tooth at 376 c (81.6); J. McL. and S. M. Stafford (Geraldine) sold nine bales of Coopworth at 373 c (81.3); and J. J. Stevens Farm (Cave) sold 10 bales of Perendale at 370 c (80.0). The top of the second-shear fleece was 444 c (89.9), received by M. J. G. and E. A. Davie (Fairlie) for eight bales of crossbred two-tooth, followed by C. R. Jane and Son (Mayfield), who sold nine bales of Romney at 433 c (87.2) Gordons Valley station (Timaru), which sold 18 bales of medium crossbred at 406 c (83.2) A. R. R. Robertson and Sons (Waimate), who sold 19 bales of Coopworth at 398 c (81.5); and C. A. Henderson’ (Hunter), who sold 12 bales of crossbred at 391 c (80.4). At the top of the lambs’ wool prices was W. A. Little and Son (Cave) with 407 c (83.1) for four bales of Coopworth, followed by R. G. Coles (Maungati) with nine bales of fine crossbred at 396 c (85.8); A. R. and J. H. Chisholm (Geraldine) with

five bales of Perendale at 393 c (82.7); D. McCullough (Geraldine) with 11 bales of crossbred at 390 c (82.1); and a group of vendors at 388 c: B. J. McKeown (Maungati), with eight bales of medium crossbred (85.1), Craigmore Farming Company (Maungati) with 17 bales of mixed crossbred (84.5), and R. K. Patterson (Cave) with nine bales of Perendale (84.5).

On 387 c were three vendors: R. B. Baker (Timaru) for six bales of Perendale (83.1) D. F. and A. Morrison (Mayfield) for nine bales of crossbred (83.2); and Gliden and Sons (Taiko) for four bales of crossbred (82.9). J. J. Stevens Farm (Cave) sold four bales of Perendale at 385 c (83.2); K. F. and G. F. Nicol (Ashburton) sold nine bales of crossbred lambs’ wool at 385 c (81.0); Gordons Valley station (Timaru) sold 11 bales at 385 c (83.0) and 18 bales of medium crossbred at 384 c (82.6); Stoneleigh Farm (Maungati) sold six bales of Borderdale lambs’ wool at 384 c (81.9); D. Lundy and Sons (Pleasant Point) sold 11 bales of crossbred at 383 c (83.4); and S. J. and M. Hurle (Ruapuna) sold 14 bales of crossbred at 381 c (84.2). D. M. Gardner (Waimate) sold 17 bales of Corriedale lambs’ wool at 368 c (75.7); J. R. Gardner (Waimate) sold 12 bales of Corriedale at 367 c (75.2) and D. F. and H. M. Kaye (Hakataramea Valley) sold eight bales of Corriedale lambs at 356 c (73.6).

The order of the Timaru sale was Dalgety Crown, 230 lots, 2802 bales; Wrightson NMA 199 lots, 2054 bales; Pyne, Gould Guinness, 157 lots, 1674 bales. Prompt date for the sale is March 3.