Interviews
Wool prices lax due to weak Intl demand
15 Feb '08
1 min read
Prices fell by up to 3 percent for most of the hogget, fine and coarse crossbred fleece wools on offer.
Absence of Chinese demand because of the intervening New Year was a major factor in declining prices.
Price trend differed significantly, between North and South Island with the latter showing a more intense softening.
While prices remained firm for a large offering of lamb's wool in the North Island, they fell by up to 1.5 percent in the South Island.
However, finer lines of a small offering of merino wool at the Christchurch sale gained between 3- 6 percent on the previous merino sale in December.
Besides, there was strong competition for a nominal offering of mid micron wools which saw prices surge by up to 3 percent.
Absence of Chinese demand because of the intervening New Year was a major factor in declining prices.
Price trend differed significantly, between North and South Island with the latter showing a more intense softening.
While prices remained firm for a large offering of lamb's wool in the North Island, they fell by up to 1.5 percent in the South Island.
However, finer lines of a small offering of merino wool at the Christchurch sale gained between 3- 6 percent on the previous merino sale in December.
Besides, there was strong competition for a nominal offering of mid micron wools which saw prices surge by up to 3 percent.
New Zealand Wool Services International Limited
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