Wool values rise on supply issues

Cancellation of the rostered South Island wool sale and an anticipated limited volume of wool proved influential at the first North Island wool sale of the year.

There was a 93 per cent clearance of the 12,500 bales on offer and wool values increased in line with recent South Island levels, says New Zealand Wool Services general manager John Dawson.

"Compared to the last sale on December 19, the currency indicator firmed by 0.45 per cent with minimal impact on the market," he said.

Fine crossbred fleece and shears of good and poor colour were firm to one per cent dearer with average styles lifting five per cent.

Coarse crossbred fleece of good and poor colour were up two to three per cent, with average styles five per cent stronger.

Coarse shears were generally one to two per cent firmer, except for average styles, three to five inches and better styles, three to four inches, which sold five to seven per cent dearer.

Short first lambs' fleece remain firm and long oddments were one per cent firmer with short oddments, firm to four per cent easier.

There was limited competition on the buying bench which was dominated by China and Australasian buyers, supported by Western Europe, the Middle East and India. The next sale on January 16 will comprise about 10,300 bales of wool from the North Island and 7600 bales from the South Island.

The Timaru Herald