Friday, 25 November 2016 10:53

Wool continues to ease

Written by 
The 7250 bales of North Island wool on offer saw a 72% clearance with most types easing further. The 7250 bales of North Island wool on offer saw a 72% clearance with most types easing further.

The 7250 bales of North Island wool on offer saw a 72% clearance with most types easing further.

NZ Wool Services International Ltd’s marketing executive Malcolm Ching reports that some good colour types resisted this trend as buyers continue very focused buying with targeted better style wools getting more support.

The weighted indicator for the main trading currencies was 0.64% lower than last week’s sale, having minimal positive impact.

Ching advises that subdued demand and continued uncertainty around new market interest in coming weeks, is restricting buying activity.

Compared to the last similar North Island selection on November 10: Good colour fine crossbred fleece were 1 to 2% dearer with average/poor styles 3 to 7% cheaper. Good colour fine crossbred shears 3 / 5 and 3 / 4 inches were 2.5 to 5.5%t easier with 2 / 4 and 2 / 3 inches firm to 5% dearer. All poorer style fine crossbred shears were 3.5 to 7% cheaper.

Good colour coarse crossbred fleece were firm with poorer styles 7 to 8% cheaper. Coarse shears 3 / 5 to 2 / 4 inches were 1 to 5% cheaper with 2 / 3 inches 1.5% dearer.

Short oddments ranged from 7 to 13% cheaper.

Competition was limited with Australasia, Western Europe and China principals, supported by Middle East, India and the United Kingdom.

Next sale on December 1 comprises about 4550 bales from the South Island.

More like this

Govt invests in wool

The Government says it is investing to create new product categories and new international markets for strong wool and is calling on Kiwi businesses and consumers to get behind the environmentally friendly fibre.

Pillow talk takes action

A call from her daughter prompted well-known Hawke's Bay wool broker and enthusiastic wool promoter Philippa Wright to set up a new venture - making wool pillows.

Aussie's loss is NZ's gain

In a twist on the usual formula, Australia fears a shortage of shearers in that country after New Zealand shearers return home once our borders reopen.

» The RNG Weather Report

» Latest Print Issues Online

The Hound

No free ride!

OPINION: This old mutt is getting somewhat tired of multi-national, tax-dodging, fund-raising group Greenpeace always given front and centre mainstream…

How come?

OPINION: A mate of yours truly is questioning exactly why the Māori ag sector have been given special budget funding by…

» eNewsletter

Subscribe to our weekly newsletter