Wednesday, July 6, 2022

Strength remains at wool auction

Steady demand and a general underlying strength to the market was evident at the South Island wool sale last week.

Of the 10,362 bales offered, which was considerably more than anticipated, 75% of the offering sold.  The passed-in wools were predominantly lots with inflated grower reserves.

The weighted indicator for the main trading currencies was unchanged compared to the last sale on November 1.

New Zealand Wool Services International general manager John Dawson said Merino fleece was firm to 4% cheaper. Mid Micron Fleece finer than 26 micron were firm to 3.5% dearer, 26.5 to 30 micron were up to 4% cheaper with 30.5 to 31.5 microns up to 6% dearer.

Fine crossbred Fleece generally remained firm. Longer fine crossbred shears were 1.5 to 4.5% dearer with shorter types firm. Coarse crossbred fleece were generally in buyers favour. Longer coarse shears were up to 1.5% easier with shorter types 1 to 3% cheaper. Oddments were 7%.

Dawson said there was good competition with China, India and Western Europe principals supported by Middle East and the United Kingdom.

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