Friday, March 29, 2024

Wool volumes, prices higher

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Sellers had the better of Thursday’s Christchurch wool auction when a large offering of 13,000 bales made good price gains. That applied especially to full-fleece though second-shear was mixed. Lambs’ wool was in good demand, especially for longer-combing wool, up by 2% to 5%.
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There was increased buying pressure on better prepared crossbred ewe wools up to 35 microns, PGG Wrightson’s South Island manager Dave Burridge said. 

The 31-to-35 microns range was up 3% to 5% and there were also positive results for wool above 35 microns.

Very small volumes of mid-micron wool were offered and sold strongly. The overall pass-in rate was 10%.

Thursday’s sale was a turn-around from a week earlier when an  offering of 9200 bales of end-of-season crossbred fleece encountered some price resistance. Some prices gained at the finer end of the crossbred wool section but were easier at the stronger end. The pass-in rate was also higher than the latest sale, despite the smaller volume.

Latest sale prices, all by micron level, price/kg clean: Full wool, good-to-average colour, 29 micron, $10.42, up 28c; 30, $8.63, up 17c; 32, $5.47, up 10c; 33, $4.58, up 15c; 34, $4.46, up 20c; 35, $3.62, up 15c; 36, $3.25, up 21c; 37, $2.95, up 1c; 38, $2.94, up 2c; 39, $2.94, up 1c. Crossbred second-shear: 33 micron, 3-to-4 inches, $4.47, up 5c; 35, 3-to-4 inches, $3.42, up 12c; 2-to-3 inches, $2.96, down 4c; 37, 3-to-4 inches, $2.97, down 1c; 2-to-3 inches, $2.90, down 4c; 39, 3-to-5 inches, $2.88, down 6c; 3-to-4 inches, $2.89, down 5c; 2-to-3 inches, $2.96, up 2c. Crossbred lambs’, first shear: 28 micron, $6.77, up 7c; 29, $6.38, down 20c; 30, $5.90, down 7c; 31, $5.08, up 4c; 32, $4.84, up 32c, 33, $4.65, up 25c.

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