Shifting half of New Zealand’s crossbred wool clip to higher value fine wool contracts could boost the economy by about $2 billion, says NZ Merino Company (NZM) chief executive John Brakenridge.
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.