Wool Prices Retrench

Wool Prices Retrench

NZ Wool Services International Limited’s Marketing Executive, Mr Paul Steel reports that the combined North and South Island auction this week saw a 70 percent clearance with most types 2 to 4 percent cheaper.

Despite the weighted indicator for the main trading currencies being 2.91 percent lower this potential positive factor was overruled by the current poor market conditions.

Mr Steel advises that apart from Merino wools which had a mixed day with some categories easing slightly and others increasing marginally the balance of the offering was cheaper.

Mid Micron fleece compared to the last time sold on 1st December were between 1 and 4 percent softer. Compared to the sale on 8th December Fine Crossbred Fleece was 1.5 to 2 percent easier with the longer shears 2 to 3 percent weaker. The 2 to 4 inch shears eased between 3 and 5 percent with the shorter types generally 1 percent down. Coarse Crossbred Fleece and shears, Good and Average Style were generally 2 percent easier with the poorer types 4 to 6 percent weaker. Long Oddments were 5 to 7 percent down with the short types 3 to 5 percent cheaper.

Wide spread competition with China and Australasia principals supported by United Kingdom and Europe.

Next sale on 21st December comprises approximately 9,950 bales from the North Island and 6,450 bales from the South Island.

ENDS

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