Friday, 02 December 2016 13:32

South Island wool sale eases

Written by Rural News Group

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The 4700 bales on offer saw a 74% clearance with mixed results.

The 4700 bales on offer saw a 74% clearance with mixed results, however all prices paid locally are still above last week’s North Island auction levels, NZ Wool Services International chief executive John Dawson reports.

The weighted currency indicator is up 0.91% having a slight negative impact .

Dawson advises the market continues to be dominated by very targeted buying with better style wools still attracting most attention.

Compared to the last similar South Island selection on November 17;

Merino fleece were 3.5 to 12% dearer.

Mid Micron fleece saw varied results with specific brackets targeted, ranging from 2% cheaper to 3.5% dearer.

Fine crossbred fleece were 4% dearer.

Coarse full fleece and shears were 1 to 4% easier, however compared to last week’s North Island sale were 1 to 7.5% dearer.

Oddments were 3 to 12% cheaper in the South, but compared to the north were 7 to 10% dearer.

Competition was limited with China principals supported by Western Europe, Australasia and the Middle East.

The next sale on December 8 comprises about 9200 bales from the North Island.

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