Limited competition at wool sale

Prices eased slightly for all types at the South Island wool sale in Christchurch yesterday.

With a high percentage of lamb's wool on offer, buyers were selective based on length, Roger Fuller, of Elders Primary Wool, said.

Poorer coloured fleece saw competition softer compared with previous weeks, while better coloured fleece attracted good competition.

There was limited competition with Australasia, Western Europe, Middle East and United Kingdom principals, supported by India and China.

Rabobank's latest agribusiness monthly said New Zealand wool prices were able to hold ground through February.

The coarse crossbred indicator was able to make up the losses it experienced earlier in the month to finish the month at 491c/kg.

The fine crossbred indicator did not fare as well, losing 4c/kg to finish the month at 504c/kg.

Total wool exports for the current season (July 2013 to January 2014) have decreased 6% compared with the corresponding period last year.

However, the total value over the same period increased 3.7%, an indication of tightened supply and healthy international demand for stronger wool types, the report said.


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