Wool Prices Waiver

Wool Prices Waiver

New Zealand Wool Services International Limited reports that the 12,400 bales of North Island wool this week saw a 69 percent clearance with a generally 4 percent softer market.

The weighted indicator for the main trading currencies hardly altered compared to last week’s South Island auction on 8th December with it strengthening only 0.14 percent

The on-going uncertainty of the Euro-Zone economies has affected consumers and processors confidence, making many buyers stand out of the market at present. Many woolgrowers reluctance to accept lower market levels is reflected in the relatively high passing rate of 31 percent.

W.S.I. advises that Fine Crossbred Full Fleece as well as 3/5 and 3/4 inch shears were 3 to 4 percent softer with the shorter types discounted by 5 to 8 percent. Coarse Crossbred Fleece was 3.5 to 5 percent easier with longer shears 3 to 6 percent cheaper and 2/4 and 2/3 inch shears 6 to 7 percent weaker.

Coarse Combing Oddments ranged from 5 to 8 percent cheaper. Clothing Oddments 2/4 inch resisted the trend and increased by 1 percent, with the shorter types up to 4 percent softer.

Restricted competition with China and Australasia dominating.

Next sale on 15th December comprises approximately 6,600 bales from the North Island and 6,900 bales from the South Island, which is 9,000 bales less than the anticipated rostered quantities.

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