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

A big win for wool!

State-owned social housing provider Kainga Ora is switching to wool carpet for its new homes.

Editorial: Making wool great again

OPINION: Otago farmer and NZ First MP Mark Patterson is humble about the role that he’s played in mandating government agencies to use wool wherever possible in new and refurbished buildings.

Featured

Top innovators announced

The Fieldays Innovation Award winners have been announced with Auckland’s Ruminant Biotech taking out the Prototype Award.

» Latest Print Issues Online

The Hound

Are they serious?

OPINION: The Greens aren’t serious people when it comes to the economy, so let’s not spend too much on their…

A hurry up!

OPINION: PM Chris Luxon is getting pinged lately for rolling out the old 'we're still a new government' line when…

» eNewsletter

Subscribe to our weekly newsletter