Wool quality margins widen
Wool prices at the North Island sale this week saw most types continue to weaken, with a wider price range developing between better and poorer styles.
New Zealand Wool Services International Ltd's marketing executive Paul Steel said 6200 bales were offered at the sale and a 66 per cent clearance was achieved.
"Some growers were unwilling to accept the sharp declines in some categories," he said.
The weighted indicator for the main trading currencies lifted by 0.67 per cent as the New Zealand dollar generally strengthened, compared with the last sale on December 5.
Crossbred fleece, finer than 34 microns, were 1-2 per cent cheaper, longer fine shears received the strongest support lifting by 1-2 per cent and shorter types eased by 4-6 per cent.
Good styles of crossbred fleece, 35 micron or coarser, were 5-8 per cent weaker, with significant discounts of 10-17 per cent for poorer styles as volumes of this type became readily available.
Coarse oddments were 6-9 per cent cheaper, with short oddments 4-12 per cent easier.
There was limited competition on the buying bench, with most markets currently inactive.
Current purchasing is for older contracts requiring shipment prior to the Christmas break.
The next sale on December 19 will offer about 7200 bales from the North Island and 7500 bales of South Island wool.
- The Timaru Herald