Official sale report

Press, 13 February 1986, Page 24

Official sale report

The firm New Zealand dollar depressed the wool market indicator yesterday to near its lowest point for the present season and once again forced the Wool Board to give moderate support to the market.

Competition at the sale of Timaru and Invercargill wool in Christchurch yesterday was widespread on a quieter tone, according to the official report. The market eased during the day and the indicator finished on 341 c a kilogram greasy, down 5c from the buoyant sale in Dunedin on February 7. In Christchurch the board bid on 7601 bales, or 26.9 per cent of the offering and had 3524 bales, or 12.4 per cent sold or passed to it. The board’s activity at recent sales has been minimal although in the first half of the season, to December 31, it was forced to buy large quantities to support the market against the effects of the strongly appreciating dollar. Compared with the Dunedin sale, the nominal quotations for fine wools were: extra-fine Halfbred, 26 micron, down 2.5 to 5 per cent; fine Halfbred, 27 mi-

cron, buyers’ favour; medium Halfbred, 28 micron, down 2.5 per cent. Also compared with Dunedin, fine crossbred, 33 micron, was in buyers’ favour; medium crossbred, 34 micron, in buyers’ favour; medium, 35 micron, B style, in buyers’ favour; B/C style was down 2.5 per cent; B style strong crossbred, 36-37 micron, was down as much as 2.5 per cent with the B/C style down fully 2.5 per cent; crossbred second-shear, autumn-shorn, was firm and spring-shorn in buyers’ favour; 29 micron lambs’ wool down as much as 2.5 per cent, while the 30 and 31 microns were in buyers’ favour; pieces and bellies were down 2.5 per cent; and clothing oddments down 5 per cent. The main buyers were from Eastern Europe, supported by Western Europe, the Far East, and New Zealand mills. The following is the official range of clean auction prices: Extra fine Halfbred and Corriedale, 25 micron: Good to 555. Fine Halfbred and Corriedale, 27 micron: Good average to 503.

Fine crossbred, 35 micron: Good to 486; good average to 479. Medium crossbred, 35 micron: Good to 486; good average to 479; poor 459 to 465. Strong crossbred, 37 micron: Good to 474; good average 461 to 464; poor 456 to Lambs’ wool Fine Halfbred, 26 micron: Good to 488. Fine crossbred, 29 micron: Good to 461; good average to 454. Crossbred, 31 micron: Good to 453; good average to 445. Second-shear Crossbred, 37 micron 75/ 125 mm: Good to 477; good average to 465. Crossbred, 37 micron 50/ 100 mm: Good to 470; good average to 465. Necks Fine crossbred, 32 micron: Average to good to 446. Pieces Crossbred, 35 micron: Average to 407. Bellies Medium crossbred, 35 micron: Average to 374. Locks Halfbred, 28 micron: Average to 339. Crossbred, 35 micron: Average to good to 322.