Thursday, 19 April 2012 15:23

Wool continues to soften

Written by Pamela Tipa

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This week's North Island offering comprising 9,600 bales saw most sectors ease again except the finer lambs fleece, NZ Wool Services International Ltd's general manager, John Dawson says.

There was a 55% clearance with many farmers again refusing to sell at these lower levels.

The weighted indicator for the main trading currencies was down only 0.29% with limited market activity and high client stock levels again being the main market influencers.

Dawson advises Fine Crossbred Shears as well as the Coarse Fleece and Shears softened 3 to 5%.

Lambs Fleece 30 micron and finer went against the trend remaining firm to 3% stronger, however the Coarser types were firm to 1%easier. Second Lambs eased 2 to 3%.

Short Oddments also eased 2 to 3%.

There was restricted competition with China and Western Europe principals and limited support elsewhere.

Next sale on Friday, April 27 (due to the mid-week National holiday) comprises approximately 14,000 bales from the South Island.

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