It was a smaller North Island sale this week, with just over 10,700 bales on offer - down 24% on the offerings at last week's South Island sale. This week's wool sale saw a much higher clearance rate of 85% and a high percentage of the offerings were second shear wool. Buyer competition came principally from China, India and the UK with support from Western Europe, Middle East and Australasia.
The NZ Weighted Currency Indicator for the main trading currencies came down by just half a percent this week with little impact on the market. The main market pressures keeping wool prices trading in a fairly narrow band are the very tight shipping schedules and buyer cautiousness.
The coarse crossbred wool section made up 26% of the offering this week. Course 2nd shear 3/5 to 2/4 inches were firm to 2.5% cheaper this week, with the shorter types up to 1.5% dearer. The coarse crossbred full fleece generally remained firm.
Fine crossbred wool was the majority on offer at 48% of the total offering. Fine crossbred long shears were well contested ranging from firm to 5% stronger. The shorter fine crossbred wool eased by 1 to 2.5% and this types full fleece were firm to 1.5% easier.
Nearly 20% of the offering was Crossbred clothing oddments and the price for this type was generally unchanged.
Next week's sale has just under 12,000 bales rostered in the South Island only.
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