Crossbred wool continue to see further slump in prices

Higher stock levels in the textile pipeline resulting from fashion changes mainly in Asian countries and a lower UK pound has resulted in a dramatic fall in crossbred prices the past six months. Crossbred wool prices continue to slump to a low unseen since the 2012/13 season as finer wools strike a rising market.

At the Christchurch wool sale last week, wool prices prices were mixed for a small offering compared with the last sale on November 17.

The limited offering of fine mid-micron and merino wools continued to fetch strong support and was at market highs not seen for several seasons.
Crossbred fleece 34 to 39 microns was back 3-5 percent, hogget fleece 30 to 34 microns was down 2-4 percent and second shear was 1-3 percent cheaper. Crossbred oddments were down 2-5 percent.

Mid-micron wools were generally dearer and merino fleece and oddments were up 3-6 percent.

Sales included: Crossbred – P Wilson, Otago, rom, 59 bales, 39.7 microns, 81.6 yield , 393 greasy cents 482 clean cents, Baltika farm, Cheviot, rom hog, 5, 35.6, 75.9, 356, 469, KG Farming, Rakaia, bor/d, 4, 34.0, 73.1, 340, 465, KA & NK Thelning, Akaroa, rom, 11, 37.3, 80.1, 361, 451, J Parr, Sth Canty, rom hog, 3, 32.6, 78.4, 344, 439.

Corriedale and halfbred – Teece Family Farms, Cheviot, cor hog, 5, 25.2, 68.6, 688, 1003, H & M Pain, Cheviot, cor, 5, 25.9, 67.6, 646, 956, D Mcaughtrie, Omarama, f half, 5, 26.7, 74.3, 640, 861.

Merino – Est I G Hamilton, Blenheim, mer, 9, 18.6, 70.9, 1335, 1883, G & M Ridgen, Greendale, mer, 4, 17.0, 68.0, 1190, 1849, Stronvar Station, Blenheim, sup fine mer, 1, 15.1, 70.4, 128, 1818.

About 25 percent of the offering was passed in after failing to reach reserve prices.