Uncertainty brings down prices

Prices for most styles of wool finished cheaper again at this week's combined sale of North Island and South Island wool in Christchurch.

While the New Zealand dollar eased slightly overnight at 86.3c against the greenback, it was still having significant impact on wool exporters' buying power on the bench, PGG Wrightson Wool auctioneer Dave Burridge said.

There was also a certain amount of uncertainty about writing over new business from a number of overseas customers until the US could provide some further clarity over servicing its debt levels.

There were also a number of wool manufacturers still on holiday in the northern hemisphere that have also not entered the market for new business.

Compared with last week's sale, good style full-length crossbred fleece (31 to 39 micron) dropped 1%-2%, second shear fleece (75mm to 125mm) was up to 2% cheaper and second shear (50mm to 100mm) was 2%-4% cheaper.

Long crossbred oddments were unchanged, while short crossbred oddments were 5% to 7% cheaper.

Thirty percent failed to reach grower reserves.

Australia and New Zealand provided most competition at the sale, while interest from India, China, Western Europe and the United Kingdom was limited, New Zealand Wool Services International general manager John Dawson said.

A range of prices:

C. J. Robertson (Outram), 11 bales crossbred AA, 36.4 micron, 74.6% yield, 498c/kg greasy, 641c/kg clean; P. B. and A. Johnston (Roxburgh), 27 bales Perendale AA, 35.5 micron, 76.1% yield, 486 greasy, 639 clean; Korkscrew Partnership (Lawrence), 30 bales Perendale AA, 36.2 micron, 77.8% yield, 500 greasy, 643 clean; G. D. Davidson (Lawrence), 22 bales crossbred second shear AA, 40 micron, 80.2% yield, 480 greasy, 599 clean; L. E. and G. R.

Ruddenklau (Oamaru), 11 bales Perendale 2-tooth AA, 33.6 micron, 82.7% yield, 536 greasy, 648 clean; K. G. and F. A. Thompson (Ranfurly), 9 bales crossbred hogget AA, 33.7 micron, 77.6% yield, 520 greasy, 670 clean.

 

 

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