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Thursday, 19 April 2012 15:23

Wool continues to soften

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Wool continues to soften

This week's North Island offering comprising 9,600 bales saw most sectors ease again except the finer lambs fleece, NZ Wool Services International Ltd's general manager, John Dawson says.

There was a 55% clearance with many farmers again refusing to sell at these lower levels.

The weighted indicator for the main trading currencies was down only 0.29% with limited market activity and high client stock levels again being the main market influencers.

Dawson advises Fine Crossbred Shears as well as the Coarse Fleece and Shears softened 3 to 5%.

Lambs Fleece 30 micron and finer went against the trend remaining firm to 3% stronger, however the Coarser types were firm to 1%easier. Second Lambs eased 2 to 3%.

Short Oddments also eased 2 to 3%.

There was restricted competition with China and Western Europe principals and limited support elsewhere.

Next sale on Friday, April 27 (due to the mid-week National holiday) comprises approximately 14,000 bales from the South Island.

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