Top wool advocate bales out
The conversion of productive farmland into trees has pretty much annihilated the wool industry.
Only lambs' fleece eased slightly and of the 20,000 bales on offer, 88% sold with growers not accepting current market levels for the balance.
Compared to the last South Island sale on February 27 the currency indicator was 1.15% higher but had minimal impact with demand and shipping requirements being the main market driver.
Dawson says fine crossbred fleece and shears were firm to 2% dearer. Coarse crossbred full fleece and shears were also firm to 2% dearer.
First lambs were firm to 2% cheaper. Oddments were firm to 2.5% stronger.
There was good competition with Australasia, Western Europe, United Kingdom and India principal, supported by China and the Middle East.
The next sale on March 13 comprises about 6600 bales from the South Island.
