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THE WOOL SALE held in the South Island today (Thursday) comprised 10,334 bales of which 7, 587 reached market reserves or above, New Zealand Wool Services International Limited's general manager, John Dawson reports.
The weighted indicator for the main currencies was up 2.09% and 73.5% of the offering sold.
Increased demand coupled with continued grower resistance to further declining prices saw price levels resist the strong New Zealand dollar.
Compared to the North Island sale on May 31, 2012 Coarse Crossbred Fleece and Early Shorn types 3 to 5 inch and longer were 5% dearer. Coarse Crossbred Second Shears 2 to 4 inch and 3 to 4 inch were 4 % dearer. First Lambs were 1% dearer. Crossbred Oddments were 2% dearer.
A good spread of buyers was active including China, India, Western Europe and Australasia with support from United Kingdom and Middle East.
Compared to the last South Island sale on the May 24 prices were generally firm to buyers favour.
The next sale on June 14, 2012 comprises approximately 12,500 bales of North Island wool.
While wool returns continue in the doldrums, smart sheep farmers are looking for alternatives for a product that currently cost more to get off a sheep's back than it's worth. One such initiative is run by husband and wife team Hayden and Anastasia Tristram who farm at Wanstead in the Central Hawke's Bay. Mark Daniel reports.
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