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CONCERNS OVER Europe’s economy has hit wool consumer and processor confidence, making many buyers stand out of the market, says Wool Services International.
That resulted in an average 4% easing in prices at yesterday’s (December 8) auction. With sellers reluctant to accept lower market levels 31% was passed in.
Currency played little part, the weighted indicator for the main trading currencies being just 0.14% up since last week’s auction.
WSI says fine crossbred full fleece as well as 3/5 and 3/4 inch shears were 3 to 4% softer with the shorter types discounted by 5 to 8%.
Coarse crossbred fleece was 3.5 to 5% easier with longer shears 3 to 6% cheaper and 2/4 and 2/3 inch shears 6 to 7% weaker.
Coarse combing oddments ranged from 5 to 8% cheaper. Clothing oddments 2/4 inch resisted the trend and increased by 1%, but shorter types were up to 4% softer.
China and Australasia dominated the buying.
The next sale, December 15, comprises approximately 6,600 bales from the North Island and 6,900 bales from the South Island, which is 9,000 bales less than the anticipated rostered quantities.
While wool returns continue in the doldrums, smart sheep farmers are looking for alternatives for a product that currently cost more to get off a sheep's back than it's worth. One such initiative is run by husband and wife team Hayden and Anastasia Tristram who farm at Wanstead in the Central Hawke's Bay. Mark Daniel reports.
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