Curtis Wool Direct

NZ Wool Market Report (29 August 2019)

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The market is currently experiencing very fluid movements responding to the global fallout from the two super powers in their trade standoff. The result, especially for the finer wools, has had a significant impact on buyer confidence with prices back as much as 15% since the last Christchurch sale two weeks ago.

The feature of the sale, however, were the best style Merino wools which defied the odds and held their ground to previous sales levels.

Compared to the previous Christchurch sale 15 August Xbd fleece 31 to 35 microns were 1 to 3% cheaper. Xbd fleece 35 microns and stronger were 1 to 3% cheaper. Xbd 2nd shear was 2% cheaper. Xbd oddments were unchanged. Mid-micron fleece was 5 to 12% cheaper. Merino fleece was 2 to 12% cheaper with the less stylish wools most affected. 23% was passed in failing to reach grower reserves. The next sale is scheduled for 12 September. NZ/US$ rate: 0.633 compared to last sale of 0.643 held 15 August.

Strong XB Market indicator this sale: 313c/kg COF

Strong XB Market indicator last sale: 335c/kg COF

Source: PGG Wrightson NZ

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