Friday, March 29, 2024

Wool prices cause disbelief

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Buyers clearly had orders to fill as prices increased again at Thursday’s Napier wool sale.
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The volumes rose on the floor as buyers tried to outbid each other, PGG Wrightson North Island auctioneer Steve Fussell said. 

There was some disbelief about some of the price gains.

Buyers were especially keen on very good style, new, second-shear wool with prices 6% to 7% up on the May 3 sale in Napier.

A small amount of lambs’ wool was also strongly bid.

Active buyers came from the United Kingdom, Western Europe, Middle East, China, Australia and the New Zealand carpet mills.

The pass-in rate was just 1.5%.

Crossbred second-shear by micron level, cents per kg, clean: 35 micron, 2 to 3 inches, $3.46; 37, 2 to 3 inches, $3.18, up 11c; 39, 2 to 3 inches, $3.16, up 15.

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