Top wool advocate bales out
The conversion of productive farmland into trees has pretty much annihilated the wool industry.
There was an 88% clearance. The weighted indicator for the main trading currencies strengthened 0.68% with market demand overriding this potentially negative influence.
Dawson says merino fleece followed the Australian market trend over recent sales, increasing 10% to 15%. Mid micron fleece 24.5 to 26 micron was less in demand, easing by 1% to 2% with 26.5 to 31.5 micron firm to 3% stronger.
Fine crossbred full fleece came under strong competition with prices generally 5% to 7.5% dearer. Fine Crossbred 3/5 and 3/4 inch shears were also strongly contested, lifting 6% to 10%. The shorter types barely changed.
Good colour coarse crossbred fleece were 3% to 5% dearer with average styles firm to 2% dearer. Coarse Long Second Shears were 3% to 5% firmer with shorter types generally 5% to 9% stronger.
Strong competition from China and India was supported by Western Europe, Middle East, United Kingdom and Australasia.
The next sale on November 1 comprises a reduced volume of about 6800 bales of North Island wools.
