China absent, wool prices ease

The growing influence of China as a buyer of New Zealand wool was illustrated last week when prices eased, due in part to China's absence as it marked New Year.

The exchange rate has also strengthened since the previous sale two weeks earlier, and the market reacted to recent sharp lifts in price, but still the 12,700 bales offered were almost all sold.

New Zealand Wool Services International general manager John Dawson said fine crossbred fleece and shears eased 2%, coarse crossbred fleece and long second shears by up to 2% and short shears by up to 4%.

Oddments eased by up to 5% but lambs wool rose by up to 2%.

Wool Partners International auctioneer Dave Burridge said mid-micron wool attracted strong demand and rose by up to 2% on limited volumes.

 

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