New Zealand’s wool offering not entirely sold
In the week of July 16 the offering of 10500 bales (from South Island) offered by the New Zealand Wool Services International Ltd was absorbed by the market only to 55 percent
The weighted indicator for the main trading currencies remained unchanged thus having a minimal impact. Nearly 50 % of the offering comprised long pre lamb shorn fleece and coarse shears and at a time when Western European markets are on annual leave and others are reluctant to buy, but the lower levels came by surprise.
The past South Island sale on June 28, Mid Micron Fleece finer than 218 microns resisted the downward trend and gained 4 % whereas 28.5 to 30.5 micron lost 1.5 %.
The last sale on July 12, 2012 showed Fine Crossbred Fleece and Early Shorn 33 to 35 micron declining by 3.5 to 5.5 %. Coarse Crossbred Fleece and Early Shorn Wools ended up five to eight percent weaker and with limited competition. Coarse Second Shears ¾ inches and shorter enjoyed firm to slightly easier price levels. First Lambs 30.5 micron and finer were unchanged or up to one percent cheaper. Coarser types lost one to four percent. Combing Oddments were up to five percent down with clothing types loosing up to three percent.