Wool prices dip after good start

The wool market opened up in promising fashion until prices slipped later in the morning at the Christchurch wool sale last week.

A strong upwards movement in the dollar took the heat out of trading and demand was fickle, especially for lambs’ wool as buyers focussed on wool types that could be shipped promptly. Finer micron wool types made better prices, reflecting Australian sales.

Crossbred fleece 31 to 34 microns, including hogget wools, was 1 to 2 per cent cheaper on a limited offering from the last sale on March 9. Crossbred fleece 35 microns and stronger was down 2 to 4 per cent and second shear eased 1 to 2 per cent. Lambs’ wool was 2 to 4 per cent cheaper and oddments were back 2 to 5 per cent.

About 30 per cent of the offering was passed after failing to reach reserve prices.

Much of the offering was poorer coloured fleece which struggled to reach the price levels of previously. Good colour and sound crossbred fleece met with good demand as did lambs wool.

In contrast, wool prices were up at the North Island wool sale with fine crossbred fleece and shears up 2 to 4 per cent from the last sale on March 2. Coarse crossbred fleece was firm to 7 per cent dearer.

Sales included: Crossbred - JR Oakley, Darfield, romney lambs, 6 bales, 31.5 microns, 80.6 yield, 356 cents greasy, 442 cents clean, Maw - KG Farming, Rakaia, bord/d, 22, 34.2, 72.2, 314, 435, Zino Holdings, Hawarden, cross lms, 11, 29.9, 76.7, 332, 433, Lambhill Station, Otago, cross, 24, 37.4, 77.0, 332, 431, Ngapara Farms, Otago, cross hog, 9, 34.3, 74.7, 322, 431, R&M Kingscott, Waiau, rom lms, 10, 29.8, 74.9, 322, 430, Foxdown Partnership , Amberley, 37, cross, 37, 36.7, 72.9, 311, 427, Hughes P/ship, Sth Canty, cross 2shr, 26, 38.9, 77.4, 300, 378.