18 Dec 2009

Wool prices ease for final sale of year

5:33 am on 18 December 2009

Prices eased at the final wool sale of the year, as a result of higher seasonal volumes and reduced pressure to process urgent orders before Christmas.

New Zealand Wool Services International says the New Zealand dollar remained unchanged compared to last week's sale against a weighted currency indicator, making supply and demand the driving forces behind the buying.

It was a combined North and South Island auction of 22,500 bales, and 84% of what was on offer sold.

Prices eased for most categories apart from some longer fine hogget wools destined for shipment before the Chinese New Year, which rose in price by up to 4%.

A nominal offering of finer mid micron fleece held firm, while finer short hogget shears were up to 3% cheaper, with the coarser end easing between 2% - 6%.

Good style coarse fleece dropped in price by between 1% - 2.5%, with poorer styles up to 6% softer.

Coarse shears ranged from firm to 6% easier, with the shorter types most affected.

Buyer interest came from Asia, Australasia the Middle East, and Europe.