Related Keywords: auction, auction system's share of wool, ended with smallest volume sold, farmers attracted to premium prices, New Zealand wool season, NZ Merino, offered in private sales, protection from commodity price, Strong wool marketer, to shrink
New Zealand ended its 2014/15 wool season with smallest volume of the clip sold through auctions in at least seven years, as more farmers were attracted to the premium prices and protection from commodity price volatility offered in private sales.
According to Wool Services International executive Malcolm Ching, who is on the roster committee, the auction system's share of wool is likely to continue to shrink. An estimated 464,000 bales are expected to come up for auction in the 2015/16 year, down from 480,000 bales in 2014/15 and 493,000 bales in 2013/14.
