The crossbred market became very challenged again after several weeks of relatively stable sales, PGG Wrightson South Island sales manager Dave Burridge said.
Wool needed good colour and style to secure buyer interest.
Exporter group New Zealand Wool Services International (WSI) reported 11,700 bales on offer including a high proportion of wool re-offered after failing to sell previously.
However, only 5326 bales were sold, for a pass-in rate significantly above 50%, with many growers unwilling to accept market prices.
The high pass-in rate was at odds with the last few sales in Christchurch and Napier, which achieved 80%-plus sale rates. Currency couldn’t be blamed for the weak market because the kiwi dollar had eased slightly against the United States dollar since the previous sale.
There had been a fall-off in buying activity, especially from Chinese traders who had been the main buyers.
Widespread lower prices had affected buyer confidence, the WSI report said. Most exporters who were buying were covering for old orders for China, Australia, Western Europe and the Middle East.
Burridge said lamb wool and oddments were under considerable pricing pressure, especially any lots showing fault. First-shear lamb wool made up about a quarter of the offering, with a much smaller offering of second lamb shear.
Price were lower across the board with28 micron fetching $4.65/kg clean, down 23c on the March 23 Christchurch sale; 29 micron was $4.26/kg clean, down 31c; 30 micron $4/kg clean, down 31c; 31 micron $3.60/kg clean, down 20c; 32 micron $3.60/kg clean, down 23c and 33 micron $3.62/kg, down 25c, according to the Wrightson numbers.
Good to average crossbred full wool also had a significant easing in price, with second shear only slightly lower in comparison.
Full wool sales (all in clean measure) were: 32 micron steady at $4.34/kg; 33 micron $4.39/kg, up 1c; 34 micron steady at $4.37/kg; 35 micron $4.05/kg, down 21c; 36 micron $4.04/kg, down 25c; 37 micron $3.97/kg, down 39c; 38 micron $3.91/kg, down 35c; and 39 micron $3.89/kg, down 29c.
For crossbred second shear, prices (clean) were mostly easier, with one of two classes steady to firm: 33 micron 3 to 4 inches was at $4.08/kg down 13c; 35 micron 3 to 4 inches was $3.88/kg, down 10c, 2 to 3 inches $3.66/kg, up 1c; 37 micron 3 to 4 inches at $3.86/kg, down 11c, 2 to 3 inches $3.64/kg, down just 2c; 39 micron 3 to 5 inches $3.88/kg, down 10c, 3to 4 inches down 6c at $3.84/kg, and 2 to 3 inches steady at $3.65/kg.
