Top wool advocate bales out
The conversion of productive farmland into trees has pretty much annihilated the wool industry.
The trade weighted market indicator strengthened from 0.7070 to 0.7163 but prices still remained solid. The higher than normal pass rate reflected mainly Merino types not meeting grower reserves.
Compared to September 112014 Merino fleece 17 and 18 micron was 3 to 4% dearer, 18.5 to 21 micron seller's favour and 22 and 23 micron were 2 to 3% cheaper.
Compared to the wool sale on September 25 2014 Mid Micron fleece 24.5 to 30 micron was 5 to 9% dearer.
Compared to the South Island sale on the October 2, 2014 fine crossbred fleece 32 to 36 micron was firm to 2.5% dearer.
Coarse crossbred fleece remained firm. Fine crossbred early shorn and second shear 32 to 36 micron 3 to 5 inch was generally firm to buyers favour, 3 to 4 and 2 to 4 inch was 2% cheaper.
Coarse crossbred early shorn and second shear 3 to 5 inch remained firm while 2 to 4 inch and 2 to 3 inch were 3 to 5% dearer.
A limited offering of crossbred combing oddments were 2% dearer while crossbred clothing oddments were 1 to 2% dearer.
The next sale on the October 16 comprises about 6,600 bales from the North Island.
