Top wool advocate bales out
The conversion of productive farmland into trees has pretty much annihilated the wool industry.
New Zealand Wool Services International's chief executive John Dawson says the North Island auction received mixed support with the stronger NZ dollar having a limited impact in some areas.
Of the 6,500 bales on offer 97.5% sold.
The weighted indicator for the main trading currencies was up 1.35% compared to the last sale on 19th November, accounting for a corresponding local market reduction in some sectors.
Dawson advises that the finer end of the Fine Crossbred Fleece were up to 1.5% dearer with the stronger end buyer's favour.
Fine Crossbred Shears 3 to 5 and 3 to 4 inches were firm to 2.5% cheaper with the shorter lengths firm to 2% dearer.
Coarse Crossbred Full Fleece were 1.5% cheaper with Coarse Shears firm to 2% dearer.
Long Oddments remained firm with shorter oddments 3 to 7% cheaper.
Lambs Fleece were nominally unchanged.
Well spread competition with China and Australasia principals supported by Western Europe, Middle East, India and the United Kingdom.
Next sale on 3 December will comprise of approximately 5,000 bales from the South Island with the North Island sale cancelled due to weather affecting shearing.
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