Top wool advocate bales out
The conversion of productive farmland into trees has pretty much annihilated the wool industry.
Most wool types saw lower prices than at the previous South Island sale held on November 7. The weighted indicator for the main trading currencies moved only slightly in the week.
Fine crossbred fleece 33 to 35 micron was up to 5% cheaper. Crossbred full-fleece 37 micron and coarser saw a 5% decline. Finer crossbred early shorn and second shear types 32 to 35 micron were generally 2.5 to 5% cheaper. Combing oddments were 5% cheaper, while carding oddment types were par to 2.5% cheaper.
The principal buyers were China and Australasian carpet mills, supported by Western Europe.
The next sale on November 21 comprises 5890 bales from the South Island.
