Top wool advocate bales out
The conversion of productive farmland into trees has pretty much annihilated the wool industry.
The weighted indicator for the main trading currencies was 1.63% stronger than the last sale on December 6 which accounted for the lower levels, however in foreign currency terms the market was generally very firm.
Continued demand for quick shipment from the Chinese market kept the finer types under steady pressure, with the seasonally higher volumes of coarser types due on the market and stronger currency combining to impact on this sector.
Steel advises fine crossbred fleece and longer shears were firm with shorter types 1% to 2% easier. Full length coarse crossbred fleece was firm to 1.5% softer.
Coarse Shears were generally 1 to 2.5% cheaper with the shorter end affected the most.
Long oddments came under solid demand, lifting up to 4%. The shorter types ranged from 1.5 to 4% cheaper.
China was the principal, supported by India, Western Europe, United Kingdom and Australasia.
The next sale on Wednesday, December 19 comprises about 8200 bales from the North Island and 9800 bales from the South Island.
