The New Zealand wool market saw the first wool sale in South Island since the country went into lockdown on 19 March. Prices in New Zealand dollar terms fell 0.5% or 1 NZ cent to 189 NZ dollars and remained flat at 117 US cents.
Selections at this sale mostly saw wools that were available at the end of March as brokers work through the wools that have come into their stores during the lockdown period. As a consequence, there was a larger selection of crossbred shears on offer than usually seen at this time of year. While the market was trying to find a level, it was firm from last week’s sale in North Island. There were quite a large number of withdrawals prior to the sale with a final offering of 6,039 bales. Of these, 4,489 were sold, registering a clearance rate of 74% as against 65% in North Island last week.
The selection consisted of 30% fine crossbred, 24% coarse crossbred, 29% lambs fleece, 13% oddments, and 5% miscellaneous category.
Among the buyers, the major ones were NZWSI/JSB (1,500), Masurel (950), and Fuhrmann (700), among others.
Price movements in South Island compared to the North Island sale of 21 May were as follows: Fine crossbred early shorn good styles were 2-3% cheaper, coarse crossbred fleece average styles were firm, and average-to-poor styles were 2-3% dearer. Coarse crossbred early shorn and second shears of 3/5 inches were firm, and 3/4 to 2/3 inches were in buyers’ favour. Oddments were firm while crossbred lambs of 28.5 and finer were 3% cheaper. Meanwhile, 29-plus of 2/3 inches were firm, and 30-plus of 3 inches were 2% cheaper.
The next auction will be held in North Island on 4 June with an offering of 7,000 bales.
