Prices continued to strengthen across all categories at the
South Island wool sale in Christchurch yesterday.
A combination of cancelled sales, less volume,and good demand
created good competition in the auction room, Roger Fuller,
of Elders Primary Wool, said.
Lambs wool was strongly sought after, while Chinese types,
finer than 35 micron, showed strong competition among
Good and poorer style fleece wools were 2% to 5% dearer,
crossbred hogget and crossbred finer ewe fleece (34 micron
and finer) lifted 3% to 4% on a limited volume, Dave
Burridge, of PGG Wrightson Wool, said.
Lambs wool was up 2% to 4%, crossbred second-shear fleece
lifted 2% to 3% and oddments were up 2% to 5% dearer.
The main interest came from China, Australasia and India,
supported by the Middle East, Western Europe and the United
Westpac's latest agri update said coarse wool prices had
stabilised over the past few weeks, after trending lower in
the early part of the year.
Tight supplies globally, combined with the gradually
improving outlook for growth in developed countries, such as
the EU and United States, should see a period of relative
stability in prices.