Editorial: Wool's Back in the Black
OPINION: Confidence in the wool sector is rebounding as prices hit levels not seen in more than 15 years.
Wool Services International says this week’s slide was despite the weighted indicator for the main trading currencies being nearly 3% lower, this potential positive factor being “overruled” by current poor market conditions.
WSI marketing executive, Paul Steel, says that apart from Merino wools which had a mixed day with some categories easing slightly and others increasing marginally, the balance of the offering was cheaper, with a 70% clearance.
Mid Micron fleece, which was last offered at the December 1 sale, was 1-4% softer.
Fine crossbred, compared to last week’s sale, was 1.5-2% easier with the longer shears 2-3% weaker. The 2 to 4 inch shears eased between 3% and 5% but shorter types generally only 1% down.
Coarse crossbred fleece and shears, good and average style, were generally 2% easier with the poorer types 4-6% weaker. Long oddments were 5-7% down with the short types 3-5% cheaper.
While prices achieved were down, there was widespread competition at the auction, says WSI, with China and Australasia principals supported by United Kingdom and Europe.
The next sale is December 21 comprising about 9,950 bales from the North Island and 6,450 bales from the South Island.
