“We think this correction is more of just a breather.”
The mid micron prices were down 3% to 5% on a day when Merino wools continued their rise and crossbred fleece also firmed.
There’s still big international interest in mid micron wools. There’s more demand than supply for the type as well as for Merino wool.
The crossbred wools up to 35 microns were 3% to 4% better and above 35 microns were 1% to 2% better. That market was helped by a reduction in volumes as much of the very good quality pre-lamb wool has passed through the ring.
Prices were encouraging but there is a long way to go for the recovery in crossbred fleece, Burridge said.
Volumes from the stockpile left from last season are still coming out and though the fibre does not deteriorate the colour does fade and farmers are being advised to meet the market for wool that is more than 12 months off the sheep.
All buyers are active in the crossbred market with the Chinese back fully and especially keen on the 30 to 33 micron wools.
As severe drought curtails Australian production, New Zealand Merino growers continue to reap windfall prices, especially at the finer end where prices were up about 6%.
The lower NZ dollar is also underpinning the market.
Thursday’s yarding was 11,800 bales across all the wool types. The 12% pass-in rate was all on the crossbred offer, which dominates the supply volumes.
Sales: micron level in price per kg/clean: full wool (good-to-average colour) 25 micron, $17.46kg/clean, down 74c; 26, $14.57, down 83c; 27, $12.10, down $1.14; 28, $9.30, down 70c; 29, $8.21, down 46c; 30, $7.63, down 3c; 31, $6.10, up 35c; 32,$5, up 18c; 33, $4.65, up 5c; 34, $4.42, up 2c; 35, $4.18, up 35c; 36, $3.72, up 14c; 37, $3.64; up 4c; 38, $3.60, up 6c; 39, $3.59, up 2c.
Crossbred second shear: 33 micron, 3 to 4 inches, $4.54, up 30c; 35, 3 to 4 inches, $3.72, up 12c; 2 to 3 inches, $3.26, up 2c; 37, 3 to 4 inches, $3.45, down 3c;v2 to 3 inches, $3.34, up 14c; 39, 3 to 5 inches, $3.39, down 9c; 3 to 4 inches, $3.47, up 1c; 2 to 3 inches, $3.28, up 10c.
Merino fleece (best to good topmaking): 16 micron, $36, up 20c; 17, $34.30, up $2.73; 18, $30.60, up $2.23; 19, $27.10, up 24c; 20, $20.10, down 60c; 21, $24,16, up 41c; 22, $22.80, down 70c.
