NZ wool market softer

08 Dec '11

1 min read

New Zealand Wool Services International Limited reports that the 12,400 bales of North Island wool this week saw a 69 percent clearance with a generally 4 percent softer market. The weighted indicator for the main trading currencies hardly altered compared to last week's South Island auction on 8th December with it strengthening only 0.14 percent.

The on-going uncertainty of the Euro-Zone economies has affected consumers and processors confidence, making many buyers stand out of the market at present. Many wool growers reluctance to accept lower market levels is reflected in the relatively high passing rate of 31 percent. Fine Crossbred Full Fleece as well as 3/5 and ¾ inch shears were 3 to 4 percent softer with the shorter types discounted by 5 to 8 percent.

Coarse Crossbred Fleece was 3.5 to 5 percent easier with longer shears 3 to 6 percent cheaper and 2/4 and 2/3 inch shears 6 to 7 percent weaker. Coarse Combing Oddments ranged from 5 to 8 percent cheaper. Clothing oddments 2/4 inch resisted the trend and increased by 1 percent, with the shorter types up to 4 percent softer. Restricted competition with China and Australasia dominating.

New Zealand Wool Services International Limited