Wool Prices Down In New Zealand
New Zealand Wool Services International Ltd reported this week on the northern island.
wool
The auction provided 12400 packages and 69% turnover.
market
Down 4%.
Major trade
currency
The index is almost unchanged from the auction in southern island in December 8th, with a mere appreciation of 0.14%.
The uncertainty of the euro zone economy has affected the confidence of consumers and processing factories, leaving many buyers far away from the market.
Many shepherds are unwilling to accept low market level, which is reflected by the 31% non turnover rate.
The price of fine shearing and 3/5 and 3/4 inch shearing decreased by 3-4%, and the price of shorter type wool decreased by 5-8%.
The price of coarse crosscut shearing decreased by 3.5-5%, the price of long shearing decreased by 3-6%, and the price of shearing of 2/4 inches and 2/3 inches decreased by 6-7%.
The price of combed wool dropped by 5-8%.
The 2/4 inch fabric shattered the downward trend, up by 1%, and the shorter type dropped by 4%.
Limited competition is dominated by buyers from China and Australia.
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