Editorial: Wool's Back in the Black
OPINION: Confidence in the wool sector is rebounding as prices hit levels not seen in more than 15 years.
The finer crossbred wools were impacted the most. The weighted indicator for the main trading currencies lifted by 1.39% compared to the last sale on March 19. Of the 9700 bales on offer, 81% sold.
Steel says this week’s South Island prices came more into line with North Island levels in the finer wools as urgent shipments for Asia were completed. The price disparity between centres has now largely dissipated.
Fine crossbred full fleece eased 3- 5% with shorter shears 2-4% cheaper. Good and poor colour coarse crossbred full fleece remained firm with average style 1% easier.
Coarse shears were down 1-3%. First lambs were 1.5-2.5% cheaper. Long coarse oddments were 2% softer with good colour short oddments firm and average/poor styles 1-4% easier.
There was reduced competition, with Asia, Australasia and the Middle East most active, supported by Western Europe, India and the United Kingdom.
The next sale which will be held on Wednesday, April 1, due to the Easter break, comprises about 7800 bales from the North Island.
