Most wool prices ease at final sale of year

Prices for most types of wool finished cheaper than the previous sale a week ago, at the last wool sale for the year in Christchurch.

Due to continuing economic uneasiness in major wool-buying countries and bank funding restrictions, mills and buyers have delayed entering into longer-term contracts for greasy wool, said Dave Burridge, of PGG Wrightson Wool.

Buyers were operating on a more "hand-to-mouth" basis to fill orders until further stability resumed and, also, what interest could be generated from the carpet trade fairs in Germany and the United States next month.

There was a 76% clearance of the 16,500-bale offering, New Zealand Wool Services International general manager John Dawson said.

There was widespread competition with China, Australia, New Zealand and Europe principals supported by United Kingdom, Middle East and India sparingly.

Good-style fleece (31 to 35 micron) was 1%-2% cheaper, with an average clean price of 640c per kilogram. Good-style full-length crossbred fleece (35 to 39 micron) was 1%-2% cheaper, with an average clean price of 630c per kilo.

Second-shear fleece (75mm to 125mm) dropped 1% with an average clean price of 620c per kilo, while second-shear (50mm to 100mm) eased 2% with an average clean price of 540c per kilo.

Crossbred oddments and mid-micron wool were both 1%-2% cheaper.

The next auction on January 12 will comprise about 14,400 bales from the North Island and 9600 bales from the South Island.