Top wool advocate bales out
The conversion of productive farmland into trees has pretty much annihilated the wool industry.
Of the 6035 bales on offer, 90% sold. The weighted indicator for the main trading currencies was down 2.36% adding strength to local prices.
Dawson advises mid micron fleece were 2.5 to 3.5% cheaper. Fine crossbred fleece were up to 1.5% firmer with shorter types 2 to 4% dearer. Coarse crossbred full fleece were 2 to 3% stronger with shears firm to 2.5% dearer.
Long oddments were 3% stronger with shorter types up to 1.5% firmer.
There was limited competition with China, Australasia and United Kingdom most active, supported by Middle East and India. The next sale on August 29 comprises about 7600 bales from the South Island.
